Cash operating expenses

Homework Essay Help: Cash operating expenses|: Davis Corporation was authorized to issue 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 6 percent, cumulative preferred stock. Davis Corporation completed the following transactions during its first two year of operation.

2012

Jan 2 Issued 5,000 shares of $10 par common stock for $28 per share 

Jan 14 Issued 1,000 shares of $50 par preferred stock for $70 per share

Feb 14 Issued 15,000 shares of $10 par common stock for $30

Dec 31 During the year, earned $170,000 of cash service revenue and paid $110,000 of cash operating expenses. 

Dec 31 Declared the cash dividend on outstanding shares of preferred stock for 2012. The dividend will be paid on Jan 31 to stockholders of record on January 15, 2013

2013

Jan 31 Paid the cash dividend declared on December 31, 2012

Mar 1 Issued 2,000 share of $50 par preferred stock for $58 per share 

Jun 1 Purchased 500 shares of common stock as treasury stock at $43 per share 

Dec 31 During the year, earned $210, of cash service revenue and paid $175,000 of cash operating expense 

Dec 31 Declared the dividend on the preferred stock and a $0.60 per share dividend on the common stock 

A. Organize the transaction data in accounts under an accounting equation 
B. Prepare the stockholders’ equity section of the balance sheet at December 31, 2012
C. Prepare the balance sheet at December 31, 2013

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Australia Assessments has gained an international reputation of being the leading website in custom assignment writing services. Once you give us the instructions of your paper through the order form, we will complete the rest.

Essays

Essay Writing Services

As we work towards providing the best custom assignment services, our company provides assignment services for any type of academic essay. We will help you develop professionally written essays that are rich in content and free from plagiarism.

Admissions

Admission and Business Papers

Our skilled team of professional writers will ensure that we help you craft a remarkable admission essay for your desired Master's program in your institution of choice. We won't stop there. Once you enter the job market, we will be available to secure you a position at your desired worksite by creating an outstanding portfolio or resume.

Editing

Editing and Proofreading

Our editorial team is always available for all editing and proofreading services. They check completed papers by our writers and also provide professional opinions to papers completed by our clients.

Coursework

Technical papers

We harbor professional academic writers with different qualifications in diverse academic fields. As such, we are capable of handling both simple and technical papers. Ensure that you provide us with correct and complete instructions in the order form.