Act325 Module 2 Critical Thinking: Stock and Share Accounting

ACT325 Module 2 Critical Thinking: Stock and Share Accounting

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Complete the following exercise. Fill in the Excel spreadsheet provided via the link below to provide your answers to parts a, b, and c. Then paste the Excel data into a Word document on which you can also write the answer to part d.

Label each exercise or problem clearly. Use APA formatting and citation if needed.

|Uzi Company received a charter granting the right to issue 200,000 shares of $1 par value common stock and 10,000 shares of 8% cumulative and |

|nonparticipating, $50 par value preferred stock that is callable at $80 per share. Selected transactions are presented below. 2011 |

|Feb. |19 |Issued 45,000 shares of common stock at par for |

| | |cash. |

|22 |Gave the corporation’s promoters 30,000 shares of common stock for their |

| |services in getting the corporation organized. The directors valued the |

| |services at $50,000. |

|Mar |30 |Exchanged 100,000 shares of common stock for the |

| | |following...