contestada

On January 1, 2016, Bartov Company issues 7,000 shares of $100 par value preferred stock at $350 cash per share. On March 1, the company repurchases 7,000 shares of previously issued $1 par value common stock at $86 cash per share.Use the financial statement effects template to record these two transactions.

Respuesta :

Answer:

                 Balance Sheet

Details                   Assets                            =   Equity                       + Liabilities

                           Cash    +   non_Cash        = Capital    + Earned

                                                                         issued        Capital

Preferred       $2,450,000  +  0                    = $700,000 + $1,750,000 + 0

stock issued

Common      -$602,000     + 0                      = -$7000         -$595,000    +0

Stock

Explanation:

Asset CASH = Shares * share price

Capital Issued   = Shares * Par value

Earned Capital= Asset Cash - Capital issued

Otras preguntas