1) The following are selected accounts for the Alpha Dog Company

1) The following are selected accounts for the Alpha Dog Company
after all Fiscal Year December 31, 2016, adjusting entries & closing entries have been posted. All balances are normal.
Account Amount
Common Stock, $5 par $150,000
Treasury Stock, at cost $10 per share 20,000
Dividends Payable 5,000
Paid in Capital in excess of par, Common Stock 30,000
Paid in Capital in excess of par, Preferred Stock 3,500
Retained Earnings 140,000
Bonds Payable 75,000
Preferred Stock, $100 par, 5% cumulative 35,000

On December 31, 2016, Common Stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the Stockholder’s Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.

2)
On January 2, 2016, Alpha Corporation procured new equipment with an issue of 5,000 shares of $4.00 par value common stock. The equipment had an MSRP of $65,000. Alpha’s stock was trading on the open market for $9.75 per share on January 2nd. Use this information to prepare the General Journal entry (without explanation) for the January 2

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