Homework Answers
| Account Titles and Explanation | Debit | Credit |
| Cash (1600*14) | $22400 | |
| Common stock (1600*10) | $16000 | |
| Paid in capital in excess of par (1600*4) | $6400 |
First option is correct answer.
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Question 1 CoronadoCorp. issues 1600 shares of $10 par value common stock at $14 per share....
Sheridan Company issues 4500 shares of $10 par value common stock at $11 per share. When...
Sheridan Company issues 4500 shares of $10 par value common stock at $11 per share. When the transaction is recorded, credits are made to: Common Stock $49500. Common Stock $45000 and Paid-in Capital in Excess of Stated Value $4500. Common Stock $45000 and Paid-in Capital in Excess of Par Value $4500. Common Stock $45000 and Retained Earnings $4500. 8-3
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When...
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to 1.Common Stock $20,000 and Paid-in Capital in Excess of Par $12,000. 2. Common Stock $20,000 and Retained Earnings $12,000. 3. Common Stock $32,000. 4. Common Stock $20,000 and Paid-in Capital in Excess of Stated Value $12,000.
Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When...
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, $22,000, and Retained Earnings, $15,000 Ob. Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000 c. Common Stock, $22,000 d. Common Stock, $15,000, and Paid-In Capital in Excess of Par-Common Stock, $7,000
Alma Corp. issues 1,060 shares of $7 par common stock at $20 per share. When the...
Alma Corp. issues 1,060 shares of $7 par common stock at $20 per share. When the transaction is recorded, credits are made to a.Common Stock, $7,420 and Paid-In Capital in Excess of Par—Common Stock, $13,780. b.Common Stock, $7,420 and Retained Earnings, $13,780. c.Common Stock, $13,780 and Paid-In Capital in Excess of Stated Value, $7,420. d.Common Stock, $21,200.
Calculator Alliance Corp. issues 1,920 shares of $10 par value common stock at $15 per share....
Calculator Alliance Corp. issues 1,920 shares of $10 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Ocommon Stock $19,200 and Paid-in Capital in excess of Par Value $9,600. O Common Stock $28,800. O Common Stock $9,600 and Retained Earnings $19,200. Ocommon Stock $19,200 ahd Paid-in Capital in Excess of Stated Value $9,600.
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When...
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $20,250. Common Stock $14,850 and Pald-in Capital in Excess of Stated Value $5,400. Common Stock $5,400 and Retained Earnings $14,850. Common Stock $14,850 and Paid-in Capital in excess of Par Value $5,400.
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:...
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the...
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $13,090 and Paid-In Capital in Excess of Stated Value, $5,950. b. Common Stock, $5,950 and Retained Earnings, $13,090. c. Common Stock, $19,040. Od. Common Stock, $5,950 and Paid-In Capital in Excess of Par-Common Stock, $13,090. Kansas Company acquired a building valued at $163,000 for property tax purposes in exchange for 12,000 shares of its...
1. BonitaCorp. issues 2800 shares of $10 par value common stock at $15 per share. When...
1. BonitaCorp. issues 2800 shares of $10 par value common stock
at $15 per share. When the transaction is recorded, credits are
made to
Common Stock $28000 and Retained Earnings $14000.
Common Stock $28000 and Paid-in Capital in Excess of Par
$14000.
2. VaughnCompany is authorized to issue 9000 shares of 7%, $100
par value preferred stock and 532000 shares of no-par common stock
with a stated value of $1 per share. If Vaughn issues 4500 shares
of preferred stock...
Fronthouse Corp. issues 10,000 shares of no-par value preferred stock for cash at $60 per share....
Fronthouse Corp. issues 10,000 shares of no-par value preferred stock for cash at $60 per share. The journal entry to record the transaction will consist of a debit to Cash for $600,000 and a credit (or credits) to: Preferred Stock for $20,000 and Retained Earnings for $580,000. Retained Earnings for $600,000. Preferred Stock for $20,000 and Additional Paid-in Capital for $580,000. Preferred Stock for $600,000.
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, $22,000, and Retained Earnings, $15,000 Ob. Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000 c. Common Stock, $22,000 d. Common Stock, $15,000, and Paid-In Capital in Excess of Par-Common Stock, $7,000
Calculator Alliance Corp. issues 1,920 shares of $10 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Ocommon Stock $19,200 and Paid-in Capital in excess of Par Value $9,600. O Common Stock $28,800. O Common Stock $9,600 and Retained Earnings $19,200. Ocommon Stock $19,200 ahd Paid-in Capital in Excess of Stated Value $9,600.
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $20,250. Common Stock $14,850 and Pald-in Capital in Excess of Stated Value $5,400. Common Stock $5,400 and Retained Earnings $14,850. Common Stock $14,850 and Paid-in Capital in excess of Par Value $5,400.
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $13,090 and Paid-In Capital in Excess of Stated Value, $5,950. b. Common Stock, $5,950 and Retained Earnings, $13,090. c. Common Stock, $19,040. Od. Common Stock, $5,950 and Paid-In Capital in Excess of Par-Common Stock, $13,090. Kansas Company acquired a building valued at $163,000 for property tax purposes in exchange for 12,000 shares of its...
1. BonitaCorp. issues 2800 shares of $10 par value common stock
at $15 per share. When the transaction is recorded, credits are
made to
Common Stock $28000 and Retained Earnings $14000.
Common Stock $28000 and Paid-in Capital in Excess of Par
$14000.
2. VaughnCompany is authorized to issue 9000 shares of 7%, $100
par value preferred stock and 532000 shares of no-par common stock
with a stated value of $1 per share. If Vaughn issues 4500 shares
of preferred stock...
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