helpwithaccting 494706

Exercise 13-4 Jake Corporation issued 2,600 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $8 per share and was issued for a total of $54,200. (b) The stock had a stated value of $8 per share and was issued for a total of $54,200. (c) The stock had no par or stated value and was issued for a total of $54,200. (d) The stock had a par value of $8 per share and was issued to attorneys for services during incorporation valued at $54,200. (e) The stock had a par value of $8 per share and was issued for land worth $54,200. No. Account Titles and Explanation Debit Credit (a) (b) (c) (d) (e) Exercise 13-5 Laci Co. had the following transactions during the current period. Mar. 2 Issued 5,200 shares of $6 par value common stock to attorneys in payment of a bill for $35,600 for services provided in helping the company to incorporate. June 12 Issued 55,400 shares of $6 par value common stock for cash of $402,500. July 11 Issued 2,200 shares of $110 par value preferred stock for cash at $130 per share. Nov. 28 Purchased 2,300 shares of treasury stock for $77,800. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 2 June 12 July 11 Nov. 28 Exercise 13-7 On January 1, 2012, the stockholders’ equity section of Joshua Corporation shows: Common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,066,200; and retained earnings $1,191,500. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 47,000 shares for cash at $15 per share. July 1 Sold 10,400 treasury shares for cash at $17 per share. Sept. 1 Sold 9,310 treasury shares for cash at $14 per share. (a) Journalize the treasury stock…