PROBLEM 18B-1 (CONTINUED)
PREFERRED STOCK
ACCOUNT NO. 310
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Jun.
1
Balance
√
552
0
0
0
00
1
GJ3
285
2
0
0
00
837
2
0
0
00
Jul.
2
GJ3
469
2
0
0
00
1,306
4
0
0
00
PAID-IN CAPITAL IN EXCESS OF PAR-PREFERRED
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Jun.
1
Balance
√
100
0
0
0
00
1
GJ3
55
8
0
0
00
155
8
0
0
00
Jul.
2
GJ3
51
0
0
0
00
206
8
0
0
00
COMMON STOCK
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Jun.
1
Balance
√
580
0
0
0
00
2
GJ3
205
9
0
0
00
785
9
0
0
00
15
GJ3
232
0
0
0
00
1,017
9
0
0
00
Jul.
18
GJ3
49
3
0
0
00
1,067
2
0
0
00
PAID-IN CAPITAL IN EXCESS OF PAR-COMMON
ACCOUNT NO. 313
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Jun.
1
Balance
√
165
0
0
0
00
2
GJ3
92
3
0
0
00
257
3
0
0
00
15
GJ3
88
0
0
0
00
345
3
0
0
00
Jul.
18
GJ3
66
7
0
0
00
412
0
0
0
00
PROBLEM 18B-1 (CONCLUDED)
(2)
Paid-in Capital:
Preferred Stock, $92 par, authorized 21,000 shares, 14,200 shares issued
and outstanding
$1,306
4
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
206
8
0
0
00
Common Stock, $29 par, authorized 51,000 shares, 36,800 shares issued
and outstanding
1,067
2
0
0
00
Paid-in Capital in Excess of Par Value-Common
412
0
0
0
00
Total Paid-in Capital
$2,992
4
0
0
00
PROBLEM 18B-2
2011
2012
2013
2014
2015
Total Dividends
$0
$14,175
$42,525
$0
$75,000
a)
PREFERRED
0
$14,175
$14,175
0
$14,175
COMMON
0
0
$28,350
0
$60,825
b)
PREFERRED
0
$14,175
$28,350
0
$28,350
COMMON
0
0
$14,175
0
$46,650
c)
PREFERRED
0
$14,175
$28,350
0
$34,450
COMMON
0
0
$14,175
0
$40,550
PROBLEM 18B-3
HELIUM CORPORATION
STOCKHOLDER’S EQUITY
July 31, 201X
Paid-in Capital
Preferred Stock, 15%, $48 par, authorized 8,000
shares, 5,900 shares issued and outstanding
$283
2
0
0
00
Paid-in Capital in Excess of Par Value-Preferred
110
0
0
0
00
Total Paid-in Capital by Preferred Stockholders
$393
2
0
0
00
Common Stock, $10 par, authorized 85,000
shares, 58,000 issued and outstanding
580
0
0
0
00
Common Stock Subscribed at par
165
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
17
0
0
0
00
Total Paid-in Capital by Common Stockholders
762
0
0
0
00
Total Paid-in Capital
1,155
2
0
0
00
Retained Earnings
206
0
0
0
00
Total Stockholders’ Equity
$1,361
2
0
0
00
PROBLEM 18B-4
(1)
TROPP CORPORATION
GENERAL JOURNAL
PAGE 6
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Sep.
8
Land
16
0
0
0
00
Building
17
7
5
0
00
Common Stock
18
0
0
0
00
Paid-in Capital in Excess of Par-Common
15
7
5
0
00
13
Subscriptions Receivable-Common Stock
258
0
0
0
00
Common Stock Subscribed
180
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
78
0
0
0
00
19
Cash
129
0
0
0
00
Subscriptions Receivable-Common Stock
129
0
0
0
00
25
Cash
88
0
0
0
00
Common Stock
60
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
28
0
0
0
00
27
Cash
129
0
0
0
00
Subscriptions Receivable-Common Stock
129
0
0
0
00
27
Common Stock Subscribed
180
0
0
0
00
Common Stock
180
0
0
0
00
PROBLEM 18B-4 (CONCLUDED)
(2)
TROPP CORPORATION
STOCKHOLDERS’ EQUITY
Paid-in Capital:
Common Stock, $10 par, authorized 150,000 shares,
25,800 shares issued and outstanding
$258
0
0
0
00
Paid-in Capital in Excess of Par Value-Common
121
7
5
0
00
Total Paid-in Capital
$379
7
5
0
00
FINANCIAL REPORT PROBLEM SOLUTION—2013 Kellogg’s Annual Report
2013
$6,749 million for Retained Earnings
Par Value is $0.25 per share of common stock