Presented below is information related to Alligator Corporation for 2019.1. On March 1, Alligator Corporation issued 95,000 shares (authorized to issue 1,000,000 shares of $10 par value, Issued 100,000 shares till February, 2019) of common stock at $30 per share.2. A dividend is declared on May 1, 2010, and paid on May 27, 2019, in equity held as an investment. The equity have a book value of $150,000 and a fair value of $190,000.3. On June 1, Alligator Corporation replaced one of its’ used machines costed $200,000 with an accumulated depreciation of $110,000 with Labor company and received additional $27,000 cash. Fair value of Alligator’s machine at the time of exchange was $105,000. The cost, accumulated depreciation and fair value of Labor Company’s machine at the time of exchange were $125,000, $45,000 and $78,000 respectively. The exchange lacks commercial substance for both the parties.4. On September 4, Alligator Corporation sold the 1,000 treasury shares that they had purchased on August 10 at $22 per share. The purchase price of the shares was $25 per share. There is no previous balance in the paid-in-capital from treasury stock account (journalize both purchase and resale).5. On September 20, Alligator Corporation declared & issued a 20% stock dividend on the outstanding common stock when the stock is selling for $50 per share.6. On December 31, a 3-for-1 stock split is declared and issued.7. On December 31, Alligator Corporation declared a $0.90 per share liquidating dividend on the common stock outstanding.InstructionsJournalize the following transactions from the perspective of Alligator Corporation. 1) Presented below is information related to Alligator Corporation for 2019.1. On March 1, Alligator Corporation issued 95,000 shares (authorized to issue 1,000,000shares of $10 par value, Issued 100,000 shares till February, 2019) of common stock at $30per share.2. A dividend is declared on May 1, 2010, and paid on May 27, 2019, in equity held as aninvestment. The equity have a book value of $150,000 and a fair value of $190,000.3. On June 1, Alligator Corporation replaced one of its' used machines costed $200,000 withan accumulated depreciation of $110,000 with Labor company and received additional$27,000 cash. Fair value of Alligator's machine at the time of exchange was $105,000. Thecost, accumulated depreciation and fair value of Labor Company's machine at the time ofexchange were $125,000, $45,000 and $78,000 respectively. The exchange lackscommercial substance for both the parties.4. On September 4, Alligator Corporation sold the 1,000 treasury shares that they hadpurchased on August 10 at $22 per share. The purchase price of the shares was $25 pershare. There is no previous balance in the paid-in-capital from treasury stock account(journalize both purchase and resale).5. On September 20, Alligator Corporation declared & issued a 20% stock dividend on theoutstanding common stock when the stock is selling for $50 per share.6. On December 31, a 3-for-1 stock split is declared and issued.7. On December 31, Alligator Corporation declared a $0.90 per share liquidating dividend onthe common stock outstanding. InstructionsJournalize the following transactions from the perspective of Alligator Corporation.

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Presented below is information related to Alligator Corporation for 2019.

1. On March 1, Alligator Corporation issued 95,000 shares (authorized to issue 1,000,000 shares of $10 par value, Issued 100,000 shares till February, 2019) of common stock at $30 per share.

2. A dividend is declared on May 1, 2010, and paid on May 27, 2019, in equity held as an investment. The equity have a book value of $150,000 and a fair value of $190,000.

3. On June 1, Alligator Corporation replaced one of its’ used machines costed $200,000 with an accumulated depreciation of $110,000 with Labor company and received additional $27,000 cash. Fair value of Alligator’s machine at the time of exchange was $105,000. The cost, accumulated depreciation and fair value of Labor Company’s machine at the time of exchange were $125,000, $45,000 and $78,000 respectively. The exchange lacks commercial substance for both the parties.

4. On September 4, Alligator Corporation sold the 1,000 treasury shares that they had purchased on August 10 at $22 per share. The purchase price of the shares was $25 per share. There is no previous balance in the paid-in-capital from treasury stock account (journalize both purchase and resale).

5. On September 20, Alligator Corporation declared & issued a 20% stock dividend on the outstanding common stock when the stock is selling for $50 per share.

6. On December 31, a 3-for-1 stock split is declared and issued.

7. On December 31, Alligator Corporation declared a $0.90 per share liquidating dividend on the common stock outstanding.

Instructions
Journalize the following transactions from the perspective of Alligator Corporation.

1) Presented below is information related to Alligator Corporation for 2019.
1. On March 1, Alligator Corporation issued 95,000 shares (authorized to issue 1,000,000
shares of $10 par value, Issued 100,000 shares till February, 2019) of common stock at $30
per share.
2. A dividend is declared on May 1, 2010, and paid on May 27, 2019, in equity held as an
investment. The equity have a book value of $150,000 and a fair value of $190,000.
3. On June 1, Alligator Corporation replaced one of its' used machines costed $200,000 with
an accumulated depreciation of $110,000 with Labor company and received additional
$27,000 cash. Fair value of Alligator's machine at the time of exchange was $105,000. The
cost, accumulated depreciation and fair value of Labor Company's machine at the time of
exchange were $125,000, $45,000 and $78,000 respectively. The exchange lacks
commercial substance for both the parties.
4. On September 4, Alligator Corporation sold the 1,000 treasury shares that they had
purchased on August 10 at $22 per share. The purchase price of the shares was $25 per
share. There is no previous balance in the paid-in-capital from treasury stock account
(journalize both purchase and resale).
5. On September 20, Alligator Corporation declared & issued a 20% stock dividend on the
outstanding common stock when the stock is selling for $50 per share.
6. On December 31, a 3-for-1 stock split is declared and issued.
7. On December 31, Alligator Corporation declared a $0.90 per share liquidating dividend on
the common stock outstanding.

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