Top Tech, Inc. Stockholders' Equity Section at the end of last year was as follows:Paid In capital:Preferred Stock, 200,...

Get help with any kind of assignment - from a high school essay to a PhD dissertation

Top Tech, Inc. Stockholders' Equity Section at the end of last year was as follows:
Paid In capital:
Preferred Stock, 200,000 Shs. Authorized, 20,000 Outstanding, $15 Par,% dividend rate 300,000
Common Stock, 60,000 Shs. Issued and Outstanding, No Par 2,200,000
Total Paid in Capital 2,500,000
Retained Earnings 554,300
Total Stockholders' Equity 3,054,300
Req. #1, give general journal entries for the following transactions that took place this year:
1 Bought back 1,000 shs of the common stock that were outstanding. Paid $22/Sh.
2 Sold 800 of the shares bought back in prior transaction. Received $16/Sh.
3 Sold 4,000 shares of Pfd. Stock for $20/Sh.
4 Give 3rd closing enrty with the corp. losing 31,000 for the year.
Req. #2 prepare Top Tech, Inc. Stockholders' Equity Section at the end of this year.
Req. #3 calculate common stock book value per share at the end of last year and at the end of this year.

Prepare a classified Balance Sheet, dated 12­31­14, for these 3 situations:
Situation 1
12­31­14 Assets:
Cash ………………………………. 83,000
Accounts Rec. ………………...…..…… 274,000
Inventory ………………...………………. 225,000
Equipment, Net of Accum. Depr. …….. 601,000
12­31­14 Liabilities:
Accounts Pay. ………………...…..…… 5,000
Short­Term Notes Payable …...…..…… 95,200
Long­Term Notes Payable …...…..… … 271,000
12­31­14 Equity:
Business is named Happy Productions and is owned solely by Harry Happy.
(You will have to determine the equity amount)
Situation 2
Business is named Aztec Partners and is owned by Judy Smith and Al Topp
Assets and Liabs. are the same as situation 1.
Equity­
Capital as of 1­1­14:
Judy ………………………………………. 200,000
Al, ……………………………………….. 325,000
Capital Contributed in 2014:
Judy …………………………………….. ­
Al ………………………………………… ­
Drawings ,2014:
Judy ……………………………………. 71,000
Al ……………………………………….. 90,000
Share of Profits , every year
Judy …………………………………… 0.4
Al …………………………………….. 0.6
Situation 3
Business is a corporation named Aztec, Inc.
Assets and Liabs. are the same as situation 1.
Equity­
Paid in Capital(Common Stock) as of 12­31­14 is ………………. 425,000










OUR SERVICE CHARTER







  • Excellent Quality Work

    Grammar is one of the elements that we take seriously in our service delivery. Beside the use of spell checkers, we progressively take our writers through the essentials of a quality paper that features information clarity. Importantly, we encourage our writers to avoid coming up with a paper that deviates from the elements that appear on the client’s instruction brief. It means that the papers that we deliver denote well researched information that is rich in details. Additionally, the papers usually contain exhaustive details on any instruction that a client submitted. It is the tireless application of our writers’ efforts that makes us stand out when it comes to the delivery of excellent quality work. Notably, our writers use quality resources when digging up information that a paper requires. They are usually aware of the sources that contain rich information. Our past clients have proved that we give nothing short of quality work through giving us a positive feedback.
  • 100% Confidentiality

    We mind about the interests of our clients holistically. It is for this reason that we maintain high-level confidentiality in regard to our clients’ personal information. Importantly, we use the information for purposes that relate with our services only. The only information that we require relates to our clients’ writing needs. It is also important to note that our clients’ payment information is secure with us. If there is any query in regard to the payment information, then our support team is always willing to provide any clarifications in a prompt manner. Confidentiality extends to the fact that a client made use of our services. It means that we hold our relationship with our clients in secrecy. Importantly, our confidentiality measures beat any advanced security measure that can identify any information regarding our relationship with our clients. It means that our clients transact with us freely without any fear of information leakage.
  • Free Revisions

    The papers that we deliver usually reflect a high quality level. However, there is always a room for any additional fine-tuning touch in line with a client’s preference without any additional charges. To begin with, a client has discretion to make a choice on their preferred top writer from our team. Such a writer could have handled past work for the client and received a positive review from the same. It means that the client has confidence of the quality of service that the writer delivers. Secondly, a client has an option of making use of our editing services. Our editors are always on standby to revise the paper and ensure that it matches with the expectations of a client that the instruction brief had detailed. The revision covers content adjustment that removes off-topic details, addition of sources, removal of language style errors, and assessment of the referencing style in order to enhance compliance.
  • Professional Academic Writers

    An academic degree is one of the qualifications that our writers hold. This is only a minimum requirement that we ask from our writers, but the team also has writers who possess higher educational credentials. It means that the team comprises of competent writers who have gone through institutions of higher learning and passed their exams. Subsequently, the writers have a good grasp of what our clients require. It is notable that our writers not only want to apply their acquired knowledge, but they are also willing to help our clients to outperform them. This is a clear indication of a team that is willing to walk an extra mile. We uphold professionalism in our operations, and our clients should look forward to receive services from a team of experts. It is the spirit of value addition that makes us to scale any heights in order to deliver and outperform our clients’ expectations.