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On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for...
Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par...
Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. resold 400 shares for $15 each. Which of the following is correct regarding the journal entry for the resold shares? O Debit Cash $15,000. O Credit Additional Paid in Capital $4,800. o crt: Treasury Stock $10,800. o Credit Additional Paid in Capital $5,200. Credit Treasury Stock $6,000. 3.75 pts Question 23 Question 25...
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for...
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each On December 20, Coley Corp. resold 400 shares for $30 each. Which of the following is correct regarding the effect of the reselling of shares on the accounting equation? Multiple Choice o Assets decrease o Liabilities decrease o Expenses increase o Stockholders' Equity increases
Common Stock - par $1, 10,000 shares = $10,000 Preffered stock 10% (par $1, 100,000 shares)...
Common Stock - par $1, 10,000 shares = $10,000 Preffered stock 10% (par $1, 100,000 shares) = $100,000 Paid in Capital in Excess of Par $500,000 What is the journal entry if the company resold 1,000 shares of treasury stock at $10 cash per share?
Ragle Corp. issues 1,000 shares of its $5 par value common stock in exchange for equipm...
Ragle Corp. issues 1,000 shares of its $5 par value common stock in exchange for equipm The book value of the equipment on the investor's books was $40,000, and its catalog list price was $45,000. The equipment could be purchased in the market for $42,000. The stock was not publicly traded. Which of the following entries will be included in the journal entry to record the issuance of the stock? Click the answer you think is right Debit equipment $42,000....
The day corp holds 1000 shares of it s $5 par value common stock as treasury...
The day corp holds 1000 shares of it s $5 par value common stock as treasury stock that the company purchased in 2020 for $150,000. Day corps resissued all 1000 shares for $160,000. under the cost method of accounting for treasury stock, the reissuance journal entry reissued a. credit to treasury stock for $160,000 b. none of above c. credit to gain on sale of $10k d. credit to common stock for $10k e. credit to paid in excess of...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per share and 6,000 shares of $53 par value, eight percent preferred stock at $61 per share. Later, the company purchased 3,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $29 per share. Prepare...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share....
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are made to a.Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000 b.Common Stock, $15,000, and Paid-In Capital in Excess of Par—Common Stock, $7,000 c.Common Stock, $22,000 2. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:...
When a company issues 38,000 shares of $2 par value common stock for $20 per share,...
When a company issues 38,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include: Multiple Choice A debit to Additional Paid-in Capital for $76,000. A debit to Cash for $76,000. A credit to Common Stock for $760,000. A credit to Additional Paid-in Capital for $684,000 < Prev 2 of 19 Next>
Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. resold 400 shares for $15 each. Which of the following is correct regarding the journal entry for the resold shares? O Debit Cash $15,000. O Credit Additional Paid in Capital $4,800. o crt: Treasury Stock $10,800. o Credit Additional Paid in Capital $5,200. Credit Treasury Stock $6,000. 3.75 pts Question 23 Question 25...
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each On December 20, Coley Corp. resold 400 shares for $30 each. Which of the following is correct regarding the effect of the reselling of shares on the accounting equation? Multiple Choice o Assets decrease o Liabilities decrease o Expenses increase o Stockholders' Equity increases
Ragle Corp. issues 1,000 shares of its $5 par value common stock in exchange for equipm The book value of the equipment on the investor's books was $40,000, and its catalog list price was $45,000. The equipment could be purchased in the market for $42,000. The stock was not publicly traded. Which of the following entries will be included in the journal entry to record the issuance of the stock? Click the answer you think is right Debit equipment $42,000....
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per share and 6,000 shares of $53 par value, eight percent preferred stock at $61 per share. Later, the company purchased 3,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $29 per share. Prepare...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
When a company issues 38,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include: Multiple Choice A debit to Additional Paid-in Capital for $76,000. A debit to Cash for $76,000. A credit to Common Stock for $760,000. A credit to Additional Paid-in Capital for $684,000 < Prev 2 of 19 Next>
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