Franco Corporation Cash

General Journal 10-Jan $ 320,000

1-Mar $ 525,000
Date Account Titles Ref Debit Credit 1-May $ 360,000
10-Jan Cash $ 320,000 1-Sep $ 50,000
Common Stock $ 160,000 1-Nov $ 109,000
Paid-in Capital In Excess of Stated Value-Common Stock $ 160,000 $ 1,364,000
1-Mar Cash $ 525,000
Preferred Stock $ 500,000 Preferred Stock
Paid-in Capital in Excess of Par Value-Preferred Stock $ 25,000
1-Apr Land $ 85,000
Common Stock $ 48,000
Paid-in Capital In Excess of Stated Value-Common Stock $ 37,000
1-May Cash $ 360,000 Common Stock
Common Stock $ 160,000
Paid-in Capital In Excess of Stated Value-Common Stock $ 200,000
1-Aug Organization Expense $ 30,000
Common Stock $ 20,000
Paid-in Capital In Excess of Stated Value-Common Stock $ 10,000
1-Sep Cash $ 50,000
Common Stock $ 20,000
Paid-in Capital In Excess of Stated Value-Common Stock $ 30,000 Paid-in Capital in Excess of PV-PS J5
1-Nov Cash $ 109,000
Preferred Stock $ 100,000
Paid-in Capital in Excess of Par Value-Preferred Stock $ 9,000

Paid-in Capital in Excess of SV-CS J5

 Cash Franco Corporation
Balance Sheet (Partial)
December 31st 2010

Stockholders Equity
Paid-In Capital
Capital Stock
8% Preferred Stock, $100 Par Value,
Preferred Stock J5 10,000 Shares Authorized,
1-Mar $ 500,000 6,000 Shares Issued and Outstanding $ 600,000
1-Nov $ 100,000 Common Stock, No Par, $2 Stated Value,
$ 600,000 500,000 Shares Authorized,
204,000 Shares Issued and Outstanding $ 408,000
Common Stock J5 Total Capital Stock $ 1,008,000
10-Jan $ 160,000 Additional Paid-in Capital
1-Apr $ 48,000 In Excess of Par Value-Preferred Stock $ 34,000
1-May $ 160,000 In Excess of Stated Value-Common Stock $ 437,000
1-Aug $ 20,000 Total Additional Paid-in Capital $ 471,000
1-Sep $ 20,000 Total Paid In Capital $ 1,479,000
$ 408,000 Total Stockholders' Equity $ 1,479,000

n Capital in Excess of PV-PS J5

1-Mar $ 25,000
1-Nov $ 9,000
$ 34,000

n Capital in Excess of SV-CS J5

10-Jan $ 160,000
1-Apr $ 37,000
1-May $ 200,000
1-Aug $ 10,000
1-Sep $ 30,000
$ 437,000
 Jacobsen Corporation Cash
General Journal 1-Jun
1-Sep
Date Account Titles Ref Debit Credit 1-Dec
1-Mar Treasury Stock $ 45,000
Cash $ 45,000
1-Jun Cash $ 12,000
Treasury Stock $ 9,000 Common Stock
Paid-in Capital from Treasury Stock $ 3,000
1-Sep Cash $ 20,000
Treasury Stock $ 18,000 Paid-In Capital in Excess of
Paid-in Capital from Treasury Stock $ 2,000
1-Dec Cash $ 6,000
Paid-in Capital from Treasury Stock $ 3,000 Retained Earnings
Treasury Stock $ 9,000
Closing Entry:
31-Dec Net Income $ 30,000
Retained Earnings $ 30,000
Paid-in Capital from T
1-Dec

$ 2,000

Treasury Stock
1-Mar

$ 9,000
 Cash J1 Jacobsen Corporation
$ 12,000 1-Mar $ 45,000 Balance Sheet (Partial)
$ 20,000 December 31st 2010
$ 6,000
$ 38,000 Stockholders Equity
$ 7,000 Paid-in Capital
Capital Stock
Common Stock J10 Common Stock, $5Par Value
1-Jan $ 500,000 Additional Paid-in Capital
In Excess of Par Value-Common Stock $ 200,000
Paid-In Capital in Excess of PV-PS J10 From Treasury Stock $ 2,000
1-Jan $ 200,000 Total Additional Paid-in Capital
Total Paid-in Capital
Retained Earnings J10 Retained Earnings
1-Jan $ 100,000 Total Paid-in Capital and Retained Earnings
1-Dec $ 30,000 Treasuty Stock
$ 130,000 Total Stockholders' Equity

Paid-in Capital from TS J10

$ 3,000 1-Jun $ 3,000
1-Sep $ 2,000
$ 5,000
$ 2,000

Treasury Stock J10

$ 45,000 1-Jun $ 9,000
1-Sep $ 18,000
1-Dec $ 9,000
$ 36,000
$ 9,000
$ 500,000

$ 202,000
$ 702,000
$ 130,000
$ 832,000
$ (9,000)
$ 823,000
 Neer Corporation
General Journal

Date Account Titles Ref Debit Credit

1-Feb Cash $ 120,000
Common Stock $ 25,000
Paid-in Capital in Excess of Stated Value-Common Stock $ 95,000
14-Apr Cash $ 33,000
Treasury Stock-Common $ 30,000
Paid-In Capital from Treasury Stock-Common $ 3,000
3-Sep Cash $ 35,000
Common Stock $ 5,000
Paid-in Capital in Excess of Stated Value-Common Stock $ 30,000
10-Nov Treasury Stock-Common $ 6,000
Cash $ 6,000
Closing Entry:
31-Dec Net Income $ 452,000
Retained Earnings $ 452,000
 Cash
1-Feb $ 120,000 10-Nov $ 6,000
14-Apr $ 33,000
3-Sep $ 35,000
$ 188,000
$ 182,000

Preferred Stock J5
1-Jan $ 400,000

Common Stock J5
1-Jan $ 1,000,000
1-Feb $ 25,000
3-Sep $ 5,000
$ 1,030,000

Paid-in Capital in Excess of PV-PS J5

1-Jan $ 100,000

Paid-in Capital in Excess of SV-PS J5

1-Jan $ 1,450,000
1-Feb $ 95,000
3-Sep $ 30,000
$ 1,575,000

Retained Earnings J5
1-Jan $ 1,816,000
31-Dec $ 452,000
$ 2,268,000

Treasury Stock-Common J5
1-Jan $ 50,000 14-Apr $ 30,000
10-Nov $ 6,000
$ 56,000
$ 26,000

Paid-In Capital from TS-Common J5

14-Apr $ 3,000
 Neer Corporation
Balance Sheet (Partial)
December 31st 2010

Stockholders Equity
Paid-In Capital
Capital Stock
8% Preferred Stock, $50 Par Value,
Cumulative, 10,000 Shares Authorized,
6,000 Shares Issued and Outstanding $ 400,000
Common Stock, No Par, $1 Stated Value,
2,000,000 Shares Authorized,
30,000 Shares Issued, 1,969,000 Shares Outstanding $ 1,030,000
Total Capital Stock $ 1,430,000
Additional Paid-In Capital
In Excess of Par Value-Preferred Stock $ 100,000
In Excess of Stated Value-Common Stock $ 1,575,000
From Treasury Stock $ 3,000
Total Additional Paid-In Capital $ 1,678,000
Total Paid In Capital $ 3,108,000
Retained Earnings $ 2,268,000
Total Paid-In Capital and Retained Earnings $ 5,376,000
Treasury Stock (5,000 Shares) $ (26,000)
Total Stockholders' Equity $ 5,350,000
 Vargas Corporation
General Journal

Date Account Titles Ref Debit Credit

1-Feb Land $ 125,000
Preferred Stock $ 100,000
Paid-in Capital in Excess of Par Value-Preferred Stock $ 25,000
1-Mar Cash $ 65,000
Preferred Stock $ 50,000
Paid-in Capital in Excess of Par Value-Preferred Stock $ 15,000
1-Jul Cash $ 112,000
Common Stock $ 48,000
Paid-in Capital in Excess of Par Value-Common Stock $ 64,000
1-Sep Organization Expense (Patent) $ 28,000
Preferred Stock $ 20,000
Paid-in Capital in Excess of Par Value-Preferred Stock $ 8,000
1-Dec Cash $ 60,000
Common Stock $ 24,000
Paid-in Capital in Excess of Par Value-Common Stock $ 36,000
Closing Entry:
31-Dec Net Income $ 260,000
Retained Earnings $ 260,000
 Cash
1-Mar $ 65,000
1-Jul $ 112,000
1-Dec $ 60,000
$ 237,000

Land
1-Feb $ 125,000

Organization Expense (Patent) J2

1-Sep $ 28,000

Preferred Stock J2
1-Jan $ 500,000
1-Feb $ 100,000
1-Mar $ 50,000
1-Sep $ 20,000
$ 670,000

Common Stock J2
1-Jan $ 210,000
1-Jul $ 48,000
1-Dec $ 24,000
$ 282,000

Paid-in Capital in Excess of PV-PS J2

1-Jan $ 75,000
1-Feb $ 25,000
1-Mar $ 15,000
1-Sep $ 8,000
$ 123,000

Paid-in Capital in Excess of PV-PS J2

1-Jan $ 700,000
1-Jul $ 64,000
1-Dec $ 36,000
$ 800,000

Retained Earnings J2
1-Jan $ 300,000
31-Dec $ 260,000
$ 560,000
 Vargas Corporation
Balance Sheet (Partial)
December 31st 2010

Stockholders Equity
Paid-In Capital
Capital Stock
10% Preferred Stock, $50 Par Value,
20,000 Shares Authorized,
3,400 Shares Issued and Outstanding $ 670,000
Common Stock, $3 Par Value,
125,000 Shares Authorized,
24,000 Shares Issued and Outstanding $ 282,000
Total Capital Stock $ 952,000
Additional Paid-In Capital
In Excess of Par Value-Preferred Stock $ 123,000
In Excess of Par Value-Common Stock $ 800,000
Total Additional Paid-In Capital $ 923,000
Total Paid In Capital $ 1,875,000
Retained Earnings $ 560,000
Total Paid-In Capital and Retained Earnings $ 2,435,000
Total Stockholders' Equity Err:522