ACC 423 Intermediate Financial Accounting III WEEK 5 FINAL EXAM

Question 1

Buttercup Corporation issued 300 shares of $10 par value common stock for $4,500.

Prepare Buttercup’s journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)

Question 2

Wilco Corporation has the following account balances at December 31, 2014.

Prepare Wilco’s December 31, 2014, stockholders’ equity section. (Enter account name only and do not provide descriptive information.)