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(solution) Please answer these two Accounting II questions for me


Please answer these two Accounting II questions for me


AC 330 INTERMEDIATE ACCOUNTING

 

WEEK 6 INDIVIDUAL ASSIGNMENTS Chapter 16 Problems:

 

SEE EACH TAB AT THE BOTTOM OF THE PAGE FROM LEFT TO RIGHT

 

Tabs are labeled by problem number.

 

Complete all yellow boxes for assignments.

 

SAVE THIS FILE AS AN EXCEL FILE WITH AN .XLS EXTENTION

 

BEFORE COMPLETING ANY WORK.

 

This file will open as a web page in BlackBoard.

 

If you do not save this file before beginning work,

 

you will lose any work not saved. Q16-5

 

What is the meaning of the following terms:

 

Yellow boxes indicate work due this week.

 

(a) authorized capital stock

 

(b) issued capital stock

 

(c) outstanding capital stock

 

(d) treasury stock? What is the difference between the umber of issued and outstanding capital shares? (a)

 

(b)

 

(c)

 

(d) E16-3

 

Sale of stock with bonds.

 

Yellow boxes indicate work due this week.

 

Kelly Company issues 12% bonds with a face value of $10,000 and 600 shares of $10 par common stock in a combined sale, receiving total proceeds of $23,000. Required: Record the transaction for each independent assumption shown:

 

1. The common stock has a current market value of $21 per share; the market value of the bonds is not known.

 

2. The common stock has a current market value of $24.50 per share; the bonds are selling at 98. 1 Cash

 

Premium on Bonds Payable

 

Bonds Payable

 

Common Stock, $10 par

 

Additional Paid-in Capital on Common Stock

 

Computations 2 Cash

 

Discount on Bonds Payable

 

Bonds Payable

 

Common Stock, $10 par

 

Additional Paid-in Capital on Common Stock

 

Aggregate fair value

 

Common stock: Bonds payable: Week 6 Grading Rubric

 

Q16-5 Total Point Available

 

5 points E16-3 Total

 

*requirement 1

 

*requirement 2 20 points

 

10 points

 

10 points Total Score Points Earned

 


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