1. Business
2. Accounting
3. Financial Accounting & Bookkeeping
4. Journal Entries
5. 111895

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

A - Journalize the transactions and the closing entry for net income.

B - Enter the beginning balances in the accounts and post the journal entries to the
stockholder's equity accounts. (Use J1 as the posting reference.) (I assume this to be T-accounts?)

C - Prepare a stockholder's equity section at December 31, 2006

D - Compute the book value per share of common stock at December 31, 2006.

See attached file for full problem description.