E12-2 Garza Co.
Not what you're looking for?
Garza Co. had the following transactions during the current period. Mar. 2 Issued 5, 000 shares of $1 par value common stock to attorneys in payment of a bill for $30, 000 for services provided in helping the company to incorporate. June 12 Issued 60, 000 shares of $1 par value common stock for cash of $375, 000. July 11 Issued 1, 000 shares of $100 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2, 000 shares of treasury stock for $80, 000.
See attached file for full problem description.
Purchase this Solution
Solution Summary
This solution is comprised of a detailed explanation to answer the request of the assignment in excel file.
Solution Preview
Please see attachment.
Mar. 2 Attorneys Expense 30,000
Common Stock 5,000
Additional ...
Purchase this Solution
Free BrainMass Quizzes
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.