CALCLATOR TER V Problem 11-1A (Part Level Submission) Sruce Corp. was organized on January 1, 2017. It is authorized to issue 20,700 shares of 5%, $51 par value preferred stock and 473,000 shares of no-par common stock with a stated value of $3 per share The fot transactions were completed during the first year. Aan 10 Issued 66,100 shares of common stock for cash at $5 per share. 1 Issued 1,175 shares of preferred stock for cash at $56 per share. 1 Issued 121,500 shares of common stock for cash at $5 per share. Sept. 1 Issued 6,300 shares of common stock for cash at $9 per share. 1 Issued 4,300 shares of preferred stock for cash at $58 per share. Mar. May Nov.

During its first year of operations, Cupola Fan Corporation issued 30,000 of $1 par Class B shares for $385,000 on June 30, 2024. Share issue costs were $1,500. One year from the issue date (July 1, 2025), the corporation retired 10% of the shares for $39,500. Required: 1. to 4. Prepare the journal entries to record the issuance of the shares, the declaration of a $2 per share dividend on December 1, 2024, the payment of the dividend on December 31, 2024, and the retirement of the shares. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 12,000 shares of $5 par common stock. On January 10, Peeler issued for cash 480 shares of preferred stock at $125 per share and 4,300 shares of common stock at $80 per share. On January 20, it issued 1,100 shares of common stock to acquire a building site at a time when the stock was selling for $68 per share. During 2017, Peeler established an employee benefit plan and acquired 540 shares of common stock at $60 per share as treasury stock for that purpose. Later in 2017, it resold 120 shares of the stock at $68 per share. On December 31, 2017, Peeler determined its net income for the year to be $41,400. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per share to the common stockholders. The dividends will be paid in 2018.…

Earle Corporation was organized on January 1, 2012. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first P13-1C Journalize stock transactions, post, and prepare paid-in capital section. year. (SO 3, 5, 6) Jan. 10 Issued 100,000 shares of common stock for cash at $3 per share. GLS Issued 10,000 shares of preferred stock for cash at $55 per share. Issued 25,000 shares of common stock for land. The asking price of the land was $90,000. The company's estimate of fair value of the land was $75,000. Issued 75,000 shares of common stock for cash at $4 Issued 10,000 shares of common stock to attorneys in payment of their bill for $50,000 for services provided in helping the company organize. Issued 5,000 shares of common stock for cash at $6 per share. Issued 2,000 shares of preferred stock for cash at $60 Mar. 1 Apr. 1 May 1…