Question

Date Debit Credit Account Titles and Explanation cash Jan. Jan. 10 489000 Common Stock T 244500 Paid-in Capital in Excess of Stated Value-Common 244500 Mar. Cash 462000T Preferred Stock 440000 LU T 22000 Paid-in Capital in Excess of Par-Preferred Stock Land Apr. 1 89000|| | Common Stock Paid-in Capital in Excess of Stated Value-Common 21500 Tcash 340000T FOTOMOTIINTINDIHTUIN HORROMENHENHALANGALOHN Common Stock 240000 Paid-in Capital in Excess of Stated Value-Common T 100000 Aug. 11 Organization Expense 395001 Common Stock 34500 Paid-in Capital in Excess of Stated Value-Common 5000 Sept. 805001 || cash Common Stock 34500 T 46000 Nov. 1 Paid-in Capital in Excess of Stated Value-Common Tcash Preferred Stock 330000 300000 2 Paid-in Capital in Excess of Par-Preferred Stock 30000

Answer 1

Common Stock
			Jan-10	By Cash	$244,500
			Apr-01	By Land	$67,500
			May-01	By Cash	$240,000
			Aug-01	By organization expenses	$34,500
			Sep-01	By Cash	$34,500
			Dec-31	By Closing balance	$621,000
Paid in capital in excess of stated value-Common Stock
			Jan-10	By Cash	$244,500
			Apr-01	By Land	$21,500
			May-01	By Cash	$100,000
			Aug-01	By organization expenses	$5,000
			Sep-01	By Cash	$46,000
			Dec-31	By Closing balance	$417,000
Preferred Stock
			Mar-01	By Cash	$440,000
			Nov-01	By Cash	$300,000
			Dec-31	By Closing balance	$740,000
Paid in capital in excess of Par value-Preferred Stock
			Mar-01	By Cash	$22,000
			Nov-01	By Cash	$30,000
			Dec-31	By Closing balance	$52,000