Print by: Diana Urresta Waith AB116: Accounting II / 116_Unit 07 Assignment *Problem 13-1A DeLong Corporation was organized on January 1, 2014. It is authorized to issue 14,800 shares of 8%, $100 par value preferred stock, and 497,600 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,400 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,600 shares of preferred stock for cash at $109 per share. Apr. 1 Issued 23,400 shares of common stock for land. The asking price of the land was $90,800. The fair value of the land was $90,000. May 1 Issued 79,400 shares of common stock for cash at $4.70 per share. Aug. 1 Issued 10,400 shares of common stock to attorneys in payment of their bill of $43,900 for services performed in helping the company organize. Sept. 1 Issued 11,900 shares of common stock for cash at $5 per share. Nov. 1 Issued 2,580 shares of preferred stock for cash at $110 per share. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 10 Mar. 1 Apr. 1 May 1 Aug. 1 Sept. 1 Nov. 1 Post to the stockholders’ equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref Debit Credit Balance J5 J5 Common Stock Date Explanation Ref Debit Credit Balance J5 J5 J5 J5 J5 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref Debit Credit Balance J5 J5 Paid-in Capital in Excess of Stated Value-Common Stock Date Explanation Ref Debit Credit Balance J5 J5 J5 J5 J5 Prepare the paid-in capital section of stockholders’ equity at December 31, 2014. (Enter the account name only and do not provide the descriptive information provided in the question.) DELONG CORPORATION Balance Sheet (Partial) December 31, 2014 $ $ $ Question Attempts: 0 of 5 used Copyright © 2000-2014 by John Wiley & Sons, Inc. or related companies. All rights reserved. Print by: Diana Urresta Waith AB116: Accounting II / 116_Unit 07 Assignment *Problem 13-6A Irwin Corporation has been authorized to issue 20,800 shares of $100 par value, 10%, noncumulative preferred stock and 981,000 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At December 31, 2014, the ledger contained the following balances pertaining to stockholders’ equity. The preferred stock was issued for land having a fair value of $142,900. All common stock issued was for cash. In November, 1,500 shares of common stock were purchased for the treasury at a per share cost of $14. In December, 500 shares of treasur.

1. Print by: Diana Urresta Waith
AB116: Accounting II / 116_Unit 07 Assignment
*Problem 13-1A
DeLong Corporation was organized on January 1, 2014. It is
authorized to issue 14,800 shares of 8%, $100 par value
preferred stock, and 497,600 shares of no-par common stock
with a stated value of $2 per share. The following stock
transactions were completed during the first year.
Jan. 10 Issued 75,400 shares of common stock for cash at $4 per
share.
Mar. 1 Issued 5,600 shares of preferred stock for cash at $109
per share.
Apr. 1 Issued 23,400 shares of common stock for land. The
asking price of the land was $90,800. The fair value of the
land was $90,000.
May 1 Issued 79,400 shares of common stock for cash at $4.70
per share.
Aug. 1 Issued 10,400 shares of common stock to attorneys in
payment of their bill of $43,900 for services performed in
helping the company organize.
Sept. 1 Issued 11,900 shares of common stock for cash at $5 per
share.
Nov. 1 Issued 2,580 shares of preferred stock for cash at $110
per share.
Journalize the transactions. (Credit account titles are
automatically indented when amount is entered. Do not

2. indent manually.)
Date Account Titles and Explanation Debit Credit
Jan. 10
Mar. 1
Apr. 1
May 1
Aug. 1
Sept. 1

3. Nov. 1
Post to the stockholders’ equity accounts. (Post entries in the
order of journal entries presented in the previous
part.)
Preferred Stock
Date Explanation Ref Debit Credit Balance
J5
J5
Common Stock
Date Explanation Ref Debit Credit Balance
J5
J5
J5

4. J5
J5
Paid-in Capital in Excess of Par-Preferred Stock
Date Explanation Ref Debit Credit Balance
J5
J5
Paid-in Capital in Excess of Stated Value-Common Stock
Date Explanation Ref Debit Credit Balance
J5
J5
J5

5. J5
J5
Prepare the paid-in capital section of stockholders’ equity at
December 31, 2014. (Enter the account name only and do
not provide the descriptive information provided in the
question.)
DELONG CORPORATION
Balance Sheet (Partial)
December 31, 2014
$
$

6. $
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Copyright © 2000-2014 by John Wiley & Sons, Inc. or related
companies. All rights reserved.
Print by: Diana Urresta Waith
AB116: Accounting II / 116_Unit 07 Assignment
*Problem 13-6A
Irwin Corporation has been authorized to issue 20,800 shares of
$100 par value, 10%, noncumulative preferred stock
and 981,000 shares of no-par common stock. The corporation
assigned a $2.50 stated value to the common stock. At
December 31, 2014, the ledger contained the following balances
pertaining to stockholders’ equity.
The preferred stock was issued for land having a fair value of
$142,900. All common stock issued was for cash. In
November, 1,500 shares of common stock were purchased for
the treasury at a per share cost of $14. In
December, 500 shares of treasury stock were sold for $15 per
share. No dividends were declared in 2014.
Preferred Stock $119,000
Paid-in Capital in Excess of Par—Preferred Stock 23,900
Common Stock 981,000
Paid-in Capital in Excess of Stated Value—Common Stock
1,781,300
Treasury Stock (1,000 common shares) 14,000

7. Paid-in Capital from Treasury Stock 500
Retained Earnings 81,600
Prepare the journal entries for the: (Credit account titles are
automatically indented when amount is entered. Do
not indent manually.)
(1) Issuance of preferred stock for land.
(2) Issuance of common stock for cash.
(3) Purchase of common treasury stock for cash.
(4) Sale of treasury stock for cash.
No. Account Titles and Explanation Debit Credit
1.
2.
3.
4.
Prepare the stockholders’ equity section at December 31, 2014.

8. (Enter the account name only and do not provide the
descriptive information provided in the question.)
IRWIN CORPORATION
Balance Sheet (Partial)
December 31, 2014
$
$
:
$
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Copyright © 2000-2014 by John Wiley & Sons, Inc. or related

9. companies. All rights reserved.
Print by: Diana Urresta Waith
AB116: Accounting II / 116_Unit 07 Assignment
*Problem 13-3A
The stockholders’ equity accounts of Castle Corporation on
January 1, 2014, were as follows.
During 2014, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
No dividends were declared during the year.
Preferred Stock (8%, $49 par, cumulative, 10,400 shares
authorized) $ 416,500
Common Stock ($1 stated value, 1,935,100 shares authorized)
1,447,400
Paid-in Capital in Excess of Par—Preferred Stock 145,400
Paid-in Capital in Excess of Stated Value—Common Stock
1,449,800
Retained Earnings 1,784,500
Treasury Stock (10,200 common shares) 51,000
Feb. 1 Issued 25,500 shares of common stock for $123,800.
Apr. 14 Sold 5,900 shares of treasury stock—common for
$32,900.
Sept. 3 Issued 5,000 shares of common stock for a patent valued
at $35,600.

10. Nov. 10 Purchased 1,000 shares of common stock for the
treasury at a cost of $6,000.
Dec. 31 Determined that net income for the year was $482,500.
Journalize the transactions and the closing entry for net income.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Feb. 1
Apr. 14
Sept. 3
Nov. 10
Dec. 31
Enter the beginning balances in the accounts, and post the
journal entries to the stockholders’ equity accounts. (Use J5 for
the posting reference.) (Post entries in the order of journal

11. entries presented in the previous part.)
Preferred Stock
Date Explanation Ref Debit Credit Balance
Balance √
Common Stock
Date Explanation Ref Debit Credit Balance
Balance √
J5
J5
Paid-in Capital in Excess of Par—Preferred Stock
Date Explanation Ref Debit Credit Balance
Balance √

12. Paid-in Capital in Excess of Stated Value—Common Stock
Date Explanation Ref Debit Credit Balance
Balance √
J5
J5
Paid-in Capital from Treasury Stock
Date Explanation Ref Debit Credit Balance
J5
Retained Earnings
Date Explanation Ref Debit Credit Balance
Balance √
J5

13. Treasury Stock
Date Explanation Ref Debit Credit Balance
Balance √
J5
J5
Prepare a stockholders’ equity section at December 31, 2014,
including the disclosure of the preferred dividends in arrears.
(Enter the account name only and do not provide the descriptive
information provided in the question.)
CASTLE CORPORATION
Balance Sheet (Partial)
December 31, 2014
$

14. $
:
$
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Copyright © 2000-2014 by John Wiley & Sons, Inc. or related
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Print by: Diana Urresta Waith
AB116: Accounting II / 116_Unit 07 Assignment
*Problem 13-2A
Fechter Corporation had the following stockholders’ equity
accounts on January 1, 2014: Common Stock ($5 par)
$528,650, Paid-in Capital in Excess of Par—Common Stock
$216,590, and Retained Earnings $117,330. In 2014, the
company had the following treasury stock transactions.

15. Fechter Corporation uses the cost method of accounting for
treasury stock. In 2014, the company reported net income of
$28,690.
Mar. 1 Purchased 6,560 shares at $9 per share.
June 1 Sold 1,140 shares at $13 per share.
Sept.1 Sold 1,330 shares at $10 per share.
Dec. 1 Sold 1,430 shares at $6 per share.
Journalize the treasury stock transactions, and prepare the
closing entry at December 31, 2014, for net income. (Credit
account titles are automatically indented when amount is
entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Mar. 1
June 1
Sept. 1
Dec. 1

16. Dec. 31
Open accounts for Paid-in Capital from Treasury Stock,
Treasury Stock, and Retained Earnings. Post to these accounts
using J10 as the posting reference. (Post entries in the order of
journal entries presented in the previous part.)
Paid-in Capital from Treasury Stock
Date Explanation Ref Debit Credit Balance
J10
J10
J10
Treasury Stock
Date Explanation Ref Debit Credit Balance
J10

17. J10
J10
J10
Retained Earnings
Date Explanation Ref Debit Credit Balance
Balance √
J10
Prepare the stockholders’ equity section for Fechter Corporation
at December 31, 2014. (Enter the account name only
and do not provide the descriptive information provided in the
question.)
FECHTER CORPORATION
Balance Sheet (Partial)
December 31, 2014

18. $
$
:
$
Question Attempts: 0 of 5 used
Copyright © 2000-2014 by John Wiley & Sons, Inc. or related
companies. All rights reserved.
1. A large hydroelectric dam built in the 1950s and 60s created
a 1-million acre impoundment, and it has been a major means of
both producing electricity and flood control for many decades.
In early spring each year, the water level above the dam is
lowered to allow a reservoir for upstream snow melt and runoff
later released downstream in a controlled fashion. This annual
event has drawn no notice until this past spring, when a Native
American tribe whose reservation borders on the impoundment
came forward to claim that an ancient burial ground had been
revealed less than a mile above the dam when the water level
was lowered. To them, this was sacred ground and disturbing
the bones of their ancestors was tantamount to desecration.
Citing both 19th century treaty agreements and contracts with
the U.S. government at the time the dam was built concerning

19. the sanctity of holy grounds, the tribe insists that the burial
grounds cannot be submerged again and that the water level
must be maintained at its present, lower level. They also say
that their culture does not permit the removal and reburial of the
remains and that the federal government has recognized the
rights of Native Americans to protect their holy places.
Anthropologists have surveyed the site and report that indeed it
is an ancient burial ground, but that the people may be from a
much older group than those presently claiming ancestry.
There are a number of problems presented. One, with no
reservoir to hold snowmelt and runoff, there is likely to be
major flooding downstream. Second, the lower level will mean
less hydroelectric productive potential, and third, the lower
water level will have a major impact on the recreation industry
all along the impoundment apart from the reservation. Can this
situation be resolved, and if so, how? Are we dealing with a
cultural issue or one of race or ethnicity? How do the factors of
economics and political power enter into the matter? Create a
plan to bring this situation to resolution.
2. You have been asked to look into a company's promotion
policy. Maria, a person of Latino ancestry, has filed a complaint
that she was unfairly eliminated for consideration for a
promotion because of her distinctive accent. She is a second
generation native-born American citizen with a graduate degree,
and has been with the company for 10 years and in her current
position for 7. Alex, the person who received the promotion, is
an Anglo, also has a graduate degree, but has less time either
with the company or in the position. He is, however, considered
to be an "up and comer" and has better job evaluations than
Maria. Maria points out that she is not only the only Latina, she
is the only person of color and the only woman in the
department. She claims that her lower evaluations reflect a
built-in bias on the part of her White male supervisors. She also
states that she was told by her supervisor that she was not being

20. promoted because he feared that their clients would have
trouble understanding her accent. She alleges that the company
is engaging in discriminatory practices.
The company argues that Maria is a good employee but is often
loud and aggressive in her approach to co-workers and
supervisors and has had some problems with attendance and
tardiness. She has been counseled twice by her supervisor for
tardiness, and once for absence. Each time she gave family
problems as reasons. She explained that in each case a family
member needed help and it was her duty to be there for the
family member. When the issue of accent was introduced, it was
acknowledged that it was a major consideration but was not
because of discrimination. Maria often spoke very rapidly, and
her accent made understanding difficult when she did. The
company alleges that the ability to communicate clearly was an
essential component of the job in question. Evaluate the
situation. Are there indications of structural or individual
discrimination involved or prejudicial attitudes? Is there any
indication that Maria was unfairly treated? Is the company
within its rights to expect its employees who communicate
directly with customers to speak in unaccented English?
Regardless of your findings, come up with a plan to avoid this
sort of thing from happening again.
3. According to the U.S. Justice Department, in 2003 about
10.4% of all African American men between the ages of 25 to
29 were incarcerated, as compared to 2.4% of Hispanic men and
1.2% of nonHispanic White men. What is going on here? Why
are Black men in this age group so much more likely to be in
jail than are people of White or Latino descent? Research the
incidents of criminal prosecution, convictions, prison sentences,
and time served by race and ethnicity for all three—African
American, Hispanic, and White men. What factors or variables
are associated with who gets involved in crime, why, and what
happens to them in the criminal justice system? Also look into

21. how many judges, lawyers, and lawmakers are White compared
with those who are African American. What does this tell us
about structured inequality?
4. Islam is a highly controversial and sensitive issue in today's
world, and there are many misconceptions about its beliefs,
values, and goals. For example, many Americans believe that
most Muslims live in the Middle East, while in reality Indonesia
has many more people of the Islamic faith. What this means is
that Islam, like Judaism and Christianity, is practiced in many
different cultures, and it both shapes and is shaped by those
cultures. For this assignment, research the teachings of Islam
and how they are interpreted and or practiced in different
countries and cultures, including the United States, Great
Britain, the Middle East, India, Pakistan, and other Asian
countries. Additionally, how is it contrasted with Christianity
and Judaism? How do these understandings impact the ways that
Muslims and non-Muslims interact and communicate with one
another?
Below are four scenarios pertaining to cultural diversity. For
this assignment, you will prepare a research paper that focuses
on one of these scenarios, analyzing what happened, what the
consequences either are or might be, and how the situation can
be corrected and or prevented in the future. These must be
concrete suggestions that could actually be implemented rather
than vague references or opinions. While the situations have
been fictionalized, there have been actual situations that are
very similar. You will submit the report in three sections
throughout the course, with a due date for each section. These
due dates are posted on the Course Schedule.

22. Category
Points
%
Description
Content
10
40
Discusses which topic scenario has been chosen and why, and
how the topic is important to the study of cultural diversity.
Research Goals and Plan
10
40
Describes what the student expects to find and or what the
students would be interested in learning; describes how the
student plans to go about his or her research.
Organization and Editing
3
12
Proposal is well written, well organized, and free from errors in
spelling, grammar, and punctuation.
Formatting
2
8
Proposal is in correct APA format, with a Title page.
Total
25
100
A quality paper will meet or exceed all of the above
requirements.