Complete the following problem. It brings together several different stockholders' equity transactions. Post your solution to part (b) only. On January 5, 2010, Phelps Corporation received a charter granting the right to issue 5,000 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 50,000 shares of $10 par value common stock. It then completed these transactions: Jan. 11 - Issued 20,000 shares of common stock at $16 per share Feb. 1 - Issued to Sanchez Corp. 4,000 shares of preferred stock for the following assets: machinery with a fair market value of $50,000; a factory building with a fair market value of $160,000; and land with an appraised value of $270,000. July 29 - Purchased 1,800 share of common stock at $17 per shared. (Use cost method.) Aug. 10 - Sold the 1,800 treasury shares at $14 per share. Dec. 31 - Declared a $0.25 per share cash dividend on the common stock and declared the preferred dividend. Dec. 31 - Closed the Income Summary account. There was a $175,000 net income. Instructions: Record the journal entries for the transactions listed above. Prepare the stockholders' equity section of Phelps Corporation's balance sheet as of December 31, 2010.

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

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