+
ACCT 220 Week 6 Homework Answers

ACCT 220 Week 6 Homework Answers

Rating:
Rating
(0)
Author: semona henkova
Description:

ACCT 220 Week 6 Homework Answers

http://homeworktimes.com/downloads/acct-220-week-6-homework-answers/

ACCT 220 Week 6 Homework Answers

Week 6

An accounting intern recently made the following entries.

 

May 2              Cash                            $140,000

Common Stock                        $140,000

(Issued 10,000 shares of common stock of $10 stated value at $12 per share.)

May 10            Cash                            $700,000

Preferred Stock                       $700,000

(Issued 10,000 shares of $50 par value preferred stock for $70 per share.)

May 15            Common Stock            $20,000

Cash                                        $20,000

(Purchased 1,000 shares of common stock for the treasury for $20 per share.)

May 31            Cash                            $12,500

Common Stock                        $10.000

Gain on Sale of Stock              $2,500

(Sold 500 shares of treasury stock at $25 per share

(more)
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

25 Sophia partners guarantee credit transfer.

221 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 20 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial