Prepare the issuer's journal entry for each of the following separate transactions. On March 1, Atlantic Co. issues 47,000 shares of $3 par value common stock for $311,000 cash. On April 1, OP Co. issues no-par value common stock for $79,000 cash. On April 6, MPG issues 2,900 shares of $20 par value common stock for $48,000 of inventory, $180,000 of machinery, and acceptance of a $98,000 note payable.

A. March 1

Dr Cash$ $311,000

Cr Common Stock

$ 141000

Cr To Paid in Capital in Excess of Par $ 170,000

B.April , 01

Dr Cash$79,000

Cr Common Stock $79,000

C. April, 06

Dr Inventory$48,000

Dr Machienary$180,000

Cr To Note Payable $98,000

Cr Common Stock $58,000

Cr Paid in Capital in excess of par (Balancing Figure) $72,000

Explanation:

Preparation of the issuer's journal entry for each of the separate transactions.

A. March 1

Dr Cash$ $311,000

Cr Common Stock

(47,000 Shares " $ 3) $ 141000

Cr To Paid in Capital in Excess of Par $ 170,000

(311,000-141,000)

B.April , 01

Dr Cash$79,000

Cr Common Stock $79,000

C. April, 06

Dr Inventory$48,000

Dr Machienary$180,000

Cr To Note Payable $98,000

Cr Common Stock $58,000

(2,900 Shares * $ 20)

Cr Paid in Capital in excess of par (Balancing Figure) $72,000

($48,000+$180,000-$98,000-$58,000)

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation: