Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 10.00

Delphian Corporation

Delphian Corporation has two classes of common stock. The company’s balance sheet includes the following:

DELPHIAN CORPORATION
Stockholders’ Equity
December 31, 2013

Paid-in capital:

 

Class A common stock, voting, $1 par value,

 

authorized and issued 1,200,000 shares

$ 1,200,000

Paid-in capital in excess of par—Class A common

2,000,000

Class B common stock, nonvoting, no par value,

 

authorized and issued 11,000,000 shares

55,000,000
 

58,200,000

Retained earnings

800,000,000

Total stockholders’ equity

$858,200,000

Requirements

1. Journalize the issuance of the Class A common stock.

2. Journalize the issuance of the Class B common stock.

3. What is the total paid-in capital of the company?

4. What was the average issue price of each share of Class B common stock?

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 10:07 PM My Price 10.00

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