Goldman inc. was organized on june 1, 2014. it was authorized to issue 500,000 shares of $10 par common stock and 100,000 shares of 4 percent cumulative class a preferred stock. the class a stock had a stated value of $50 per share. the following stock transactions pertain to goldman inc.: 1. issued 40,000 shares of common stock for $16 per share. 2. issued 20,000 shares of the class a preferred stock for $52 per share. 3. issued 60,000 shares of common stock for $20 per share. required prepare the stockholders’ equity section of the balance sheet immediately after these transactions have been recognized.

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.