PROBLEM 18A-1 (CONCLUDED)
(2)
Paid-in Capital:
Preferred Stock, $96 par, authorized 23,000 shares, 14,200 shares issued and
outstanding
$1,363
2
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
180
2
0
0
00
Common Stock, $27 par, authorized 52,000 shares, 41,100 shares issued
and outstanding
1,109
7
0
0
00
Paid-in Capital in Excess of Par Value-Common
460
3
0
0
00
Total Paid-in Capital
$3,113
4
0
0
00
PROBLEM 18A-2
2011
2012
2013
2014
2015
Total Dividends
$0
$17,220
$51,660
$0
$88,980
a)
PREFERRED
0
$17,220
$17,220
0
$17,220
COMMON
0
0
$34,440
0
$71,760
b)
PREFERRED
0
$17,220
$34,440
0
$34,440
COMMON
0
0
$17,220
0
$54,540
c)
PREFERRED
0
$17,220
$34,440
0
$41,140
COMMON
0
0
$17,220
0
$47,840
PROBLEM 18A-3
ARGON CORPORATION
STOCKHOLDER’S EQUITY
JULY 31, 201X
Paid-in Capital
Preferred Stock, 13%, $52 par, authorized 8,000
shares, 6,000 shares issued and outstanding
$312
0
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
95
0
0
0
00
Total Paid-in Capital by Preferred Stockholders
$407
0
0
0
00
Common Stock, $8 par value, authorized 95,000
shares, 63,000 issued and outstanding
504
0
0
0
00
Common Stock Subscribed at par
240
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
23
0
0
0
00
Total Paid-in Capital by Common Stockholders
767
0
0
0
00
Total Paid-in Capital
1,174
0
0
0
00
Retained Earnings
210
0
0
0
00
Total Stockholders’ Equity
$1,384
0
0
0
00
PROBLEM 18A-4
(1)
LYNCH CORPORATION
GENERAL JOURNAL
PAGE 6
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Sep.
11
Land
15
5
0
0
00
Building
17
5
0
0
00
Common Stock
12
6
0
0
00
Paid-in Capital in Excess of Par Value-Common
20
4
0
0
00
16
Subscriptions Receivable-Common Stock
254
0
0
0
00
Common Stock Subscribed
123
6
0
0
00
Paid-in Capital in Excess of Par Value-Common
130
4
0
0
00
22
Cash
127
0
0
0
00
Subscriptions Receivable-Common Stock
127
0
0
0
00
28
Cash
80
0
0
0
00
Common Stock
44
4
0
0
00
Paid-in Capital in Excess of Par Value-Common
35
6
0
0
00
30
Cash
127
0
0
0
00
Subscriptions Receivable-Common Stock
127
0
0
0
00
30
Common Stock Subscribed
123
6
0
0
00
Common Stock
123
6
0
0
00
PROBLEM 18A-4 (CONCLUDED)
(2)
LYNCH CORPORATION
Copyright © 2016 Pearson Education, Inc.
18–16
SOLUTIONS TO SET B PROBLEMS
PROBLEM 18B-1
(1)
KODOKAN CORPORATION
GENERAL JOURNAL
PAGE 3
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Jun.
1
Cash
341
0
0
0
00
Preferred Stock
310
285
2
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
311
55
8
0
0
00
2
Cash
298
2
0
0
00
Common Stock
312
205
9
0
0
00
Paid-in Capital in Excess of Par Value-Common
313
92
3
0
0
00
15
Cash
320
0
0
0
00
Common Stock
312
232
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
313
88
0
0
0
00
Jul.
2
Cash
520
2
0
0
00
Preferred Stock
310
469
2
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
311
51
0
0
0
00
18
Building
61
0
0
0
00
Land
55
0
0
0
00
Common Stock
312
49
3
0
0
00
Paid-in Capital in Excess of Par Value-Common
313
66
7
0
0
00