Franco Corporation Cash General Journal 10-Jan $ 320,000

1-Mar $ 525,000 Date Account Titles Ref Debit Credit 1-May $ 360,000 10-Jan Cash $ 320,000 1-Sep $ 50,000

Common Stock $ 160,000 1-Nov $ 109,000 Paid-in Capital In Excess of Stated Value-Common Stock $ 160,000 $ 1,364,000

1-Mar Cash $ 525,000 Preferred Stock $ 500,000 Preferred Stock J5 Paid-in Capital in Excess of Par Value-Preferred Stock $ 25,000

1-Apr Land $ 85,000 Common Stock $ 48,000 Paid-in Capital In Excess of Stated Value-Common Stock $ 37,000

1-May Cash $ 360,000 Common Stock J5 Common Stock $ 160,000 Paid-in Capital In Excess of Stated Value-Common Stock $ 200,000

1-Aug Organization Expense $ 30,000 Common Stock $ 20,000 Paid-in Capital In Excess of Stated Value-Common Stock $ 10,000

1-Sep Cash $ 50,000 Common Stock $ 20,000 Paid-in Capital In Excess of Stated Value-Common Stock $ 30,000 Paid-in Capital in Excess of PV-PS J5

1-Nov Cash $ 109,000 Preferred Stock $ 100,000 Paid-in Capital in Excess of Par Value-Preferred Stock $ 9,000

Paid-in Capital in Excess of SV-CS J5

Cash Franco CorporationBalance Sheet (Partial)

Stockholders Equity Paid-In Capital Capital Stock 8% Preferred Stock, $100 Par Value,

Preferred Stock J5 10,000 Shares Authorized, 1-Mar $ 500,000 6,000 Shares Issued and Outstanding $ 600,000 1-Nov $ 100,000 Common Stock, No Par, $2 Stated Value,

$ 600,000 500,000 Shares Authorized, 204,000 Shares Issued and Outstanding $ 408,000

Common Stock J5 Total Capital Stock $ 1,008,000 10-Jan $ 160,000 Additional Paid-in Capital1-Apr $ 48,000 In Excess of Par Value-Preferred Stock $ 34,000

1-May $ 160,000 In Excess of Stated Value-Common Stock $ 437,000 1-Aug $ 20,000 Total Additional Paid-in Capital $ 471,000 1-Sep $ 20,000 Total Paid In Capital $ 1,479,000

$ 408,000 Total Stockholders' Equity $ 1,479,000

Paid-in Capital in Excess of PV-PS J51-Mar $ 25,000 1-Nov $ 9,000

$ 34,000

Paid-in Capital in Excess of SV-CS J510-Jan $ 160,000 1-Apr $ 37,000

1-May $ 200,000 1-Aug $ 10,000 1-Sep $ 30,000

$ 437,000

December 31st 2010

Jacobsen Corporation Cash J1General Journal 1-Jun

1-SepDate Account Titles Ref Debit Credit 1-Dec

1-Mar Treasury Stock $ 45,000 Cash $ 45,000

1-Jun Cash $ 12,000 Treasury Stock $ 9,000 Common Stock J10 Paid-in Capital from Treasury Stock $ 3,000

1-Sep Cash $ 20,000 Treasury Stock $ 18,000 Paid-In Capital in Excess of PV-PS J10 Paid-in Capital from Treasury Stock $ 2,000

1-Dec Cash $ 6,000 Paid-in Capital from Treasury Stock $ 3,000 Retained Earnings J10 Treasury Stock $ 9,000

Closing Entry:31-Dec Net Income $ 30,000

Retained Earnings $ 30,000 Paid-in Capital from TS J10

1-Dec

$ 2,000

Treasury Stock J101-Mar

$ 9,000

Cash J1 Jacobsen Corporation $ 12,000 1-Mar $ 45,000 Balance Sheet (Partial)

$ 20,000 $ 6,000 $ 38,000 Stockholders Equity

$ 7,000 Paid-in Capital Capital Stock

Common Stock J10 Common Stock, $5Par Value1-Jan $ 500,000 Additional Paid-in Capital

In Excess of Par Value-Common Stock Paid-In Capital in Excess of PV-PS J10 From Treasury Stock

1-Jan $ 200,000 Total Additional Paid-in Capital Total Paid-in Capital

Retained Earnings J10 Retained Earnings1-Jan $ 100,000 Total Paid-in Capital and Retained Earnings1-Dec $ 30,000 Treasuty Stock

$ 130,000 Total Stockholders' Equity

Paid-in Capital from TS J10 $ 3,000 1-Jun $ 3,000

1-Sep $ 2,000 $ 5,000

$ 2,000

Treasury Stock J10 $ 45,000 1-Jun $ 9,000

1-Sep $ 18,000 1-Dec $ 9,000

$ 36,000 $ 9,000

December 31st 2010

Jacobsen CorporationBalance Sheet (Partial)

$ 500,000

$ 200,000 $ 2,000

$ 202,000 $ 702,000 $ 130,000

Total Paid-in Capital and Retained Earnings $ 832,000 $ (9,000) $ 823,000

December 31st 2010

Neer CorporationGeneral Journal

Date Account Titles Ref Debit Credit 1-Feb Cash $ 120,000

Common Stock $ 25,000 Paid-in Capital in Excess of Stated Value-Common Stock $ 95,000

14-Apr Cash $ 33,000 Treasury Stock-Common $ 30,000 Paid-In Capital from Treasury Stock-Common $ 3,000

3-Sep Cash $ 35,000 Common Stock $ 5,000 Paid-in Capital in Excess of Stated Value-Common Stock $ 30,000

10-Nov Treasury Stock-Common $ 6,000 Cash $ 6,000

Closing Entry:31-Dec Net Income $ 452,000

Retained Earnings $ 452,000

Cash 1-Feb $ 120,000 10-Nov $ 6,000

14-Apr $ 33,000 3-Sep $ 35,000

$ 188,000 $ 182,000

Preferred Stock J51-Jan $ 400,000

Common Stock J51-Jan $ 1,000,000 1-Feb $ 25,000 3-Sep $ 5,000

$ 1,030,000

Paid-in Capital in Excess of PV-PS J51-Jan $ 100,000

Paid-in Capital in Excess of SV-PS J51-Jan $ 1,450,000 1-Feb $ 95,000 3-Sep $ 30,000

$ 1,575,000

Retained Earnings J51-Jan $ 1,816,000

31-Dec $ 452,000 $ 2,268,000

Treasury Stock-Common J51-Jan $ 50,000 14-Apr $ 30,000

10-Nov $ 6,000 $ 56,000

$ 26,000

Paid-In Capital from TS-Common J514-Apr $ 3,000

Neer CorporationBalance Sheet (Partial)

Stockholders Equity Paid-In Capital Capital Stock 8% Preferred Stock, $50 Par Value, Cumulative, 10,000 Shares Authorized, 6,000 Shares Issued and Outstanding $ 400,000 Common Stock, No Par, $1 Stated Value, 2,000,000 Shares Authorized, 30,000 Shares Issued, 1,969,000 Shares Outstanding $ 1,030,000 Total Capital Stock $ 1,430,000 Additional Paid-In Capital In Excess of Par Value-Preferred Stock $ 100,000 In Excess of Stated Value-Common Stock $ 1,575,000 From Treasury Stock $ 3,000 Total Additional Paid-In Capital $ 1,678,000 Total Paid In Capital $ 3,108,000 Retained Earnings $ 2,268,000 Total Paid-In Capital and Retained Earnings $ 5,376,000 Treasury Stock (5,000 Shares) $ (26,000) Total Stockholders' Equity $ 5,350,000

December 31st 2010

Vargas CorporationGeneral Journal

Date Account Titles Ref Debit Credit 1-Feb Land $ 125,000

Preferred Stock $ 100,000 Paid-in Capital in Excess of Par Value-Preferred Stock $ 25,000

1-Mar Cash $ 65,000 Preferred Stock $ 50,000 Paid-in Capital in Excess of Par Value-Preferred Stock $ 15,000

1-Jul Cash $ 112,000 Common Stock $ 48,000 Paid-in Capital in Excess of Par Value-Common Stock $ 64,000

1-Sep Organization Expense (Patent) $ 28,000 Preferred Stock $ 20,000 Paid-in Capital in Excess of Par Value-Preferred Stock $ 8,000

1-Dec Cash $ 60,000 Common Stock $ 24,000 Paid-in Capital in Excess of Par Value-Common Stock $ 36,000

Closing Entry:31-Dec Net Income $ 260,000

Retained Earnings $ 260,000

Cash 1-Mar $ 65,000

1-Jul $ 112,000 1-Dec $ 60,000

$ 237,000

Land 1-Feb $ 125,000

Organization Expense (Patent) J21-Sep $ 28,000

Preferred Stock J21-Jan $ 500,000 1-Feb $ 100,000 1-Mar $ 50,000 1-Sep $ 20,000

$ 670,000

Common Stock J21-Jan $ 210,000 1-Jul $ 48,000

1-Dec $ 24,000 $ 282,000

Paid-in Capital in Excess of PV-PS J21-Jan $ 75,000 1-Feb $ 25,000 1-Mar $ 15,000 1-Sep $ 8,000

$ 123,000

Paid-in Capital in Excess of PV-PS J21-Jan $ 700,000 1-Jul $ 64,000

1-Dec $ 36,000 $ 800,000

Retained Earnings J21-Jan $ 300,000

31-Dec $ 260,000 $ 560,000

Vargas CorporationBalance Sheet (Partial)

Stockholders Equity Paid-In Capital Capital Stock 10% Preferred Stock, $50 Par Value, 20,000 Shares Authorized, 3,400 Shares Issued and Outstanding $ 670,000 Common Stock, $3 Par Value, 125,000 Shares Authorized, 24,000 Shares Issued and Outstanding $ 282,000 Total Capital Stock $ 952,000 Additional Paid-In Capital In Excess of Par Value-Preferred Stock $ 123,000 In Excess of Par Value-Common Stock $ 800,000 Total Additional Paid-In Capital $ 923,000 Total Paid In Capital $ 1,875,000 Retained Earnings $ 560,000 Total Paid-In Capital and Retained Earnings $ 2,435,000 Total Stockholders' Equity Err:522

December 31st 2010