- B Prepare The Stockholders Equity Section Of Monty Corporation S Balance Sheet As Of December 31 2020 Enter Accoun 1 (28.03 KiB) Viewed 3 times
- B Prepare The Stockholders Equity Section Of Monty Corporation S Balance Sheet As Of December 31 2020 Enter Accoun 2 (29.47 KiB) Viewed 3 times
- B Prepare The Stockholders Equity Section Of Monty Corporation S Balance Sheet As Of December 31 2020 Enter Accoun 3 (39.64 KiB) Viewed 3 times
HW 1 Chapter 15 Question 7 of 19 Total Capital Stock Additional Paid-in Capital Total Paid-in Capital < Retained Earnings Total Stockholders' Equity eTextbook and Media List of Accounts Save for Later Last saved 3 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minuter 12.5/25 Attempts: 0 of 3 used Submit Answer
T-Chapter 15 Question 7 of 19 View Policies Show Attempt History Current Attempt in Progress Jan. 11 Feb, 1 < July 29 Aug. 10 Dec. 31 Dec. 31 (a) On January 5, 2020, Monty Corporation received a charter granting the right to issue 5,200 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,700 shares of $10 par value common stock. It then completed these transactions. > 12.5/25 E Your answer is correct. Issued 19,800 shares of common stock at $15 per share. Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value of $49,200; a factory building with a fair value of $160,000; and land with an appraised value of $297,000. Purchased 1,800 shares of common stock at $19 per share. (Use cost method.) Sold the 1,800 treasury shares at $15 per share. Declared a $0.50 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $163,800 net income. Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. B