Journal entry
thats only info. i have.
Homework Answers
| Trans | General Journal | Debit | Credit |
| 15-Jun | Cash | $ 700,000.00 | |
| Preferred Stock | $ 700,000.00 | ||
| 1-Jul | Dividend | $ 70,000.00 | |
| Dividend Payable | $ 70,000.00 | ||
| 1-Sep | Dividend Payable | $ 70,000.00 | |
| Cash | $ 70,000.00 | ||
| 15-Sep | Common Stock, $5 par, 160,000 shares | $ 800,000.00 | |
| Common Stock, $2.5 par, 320,000 shares | $ 800,000.00 | ||
| 1-Oct | Treasury Common Stock | $ 200,000.00 | |
| Cash | $ 200,000.00 | ||
| 1-Dec | Retained Earnings | $ 576,000.00 | |
| Common Stock, $2.5 par, 320,00 shares | $ 80,000.00 | ||
| Additional Paid In Capital | $ 496,000.00 | ||
| 31-Dec | Net Income | $ 550,000.00 | |
| Retained Earnings | $ 550,000.00 | ||
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Journal entry
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The stockholders' equity section of Karp Company at January...
The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50...
The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capitalin excess of Par Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1-Sep Paid the cash dividend declared on...
✓ P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows....
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P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred...
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Stockholders’ Equity Transactions, Journal Entries, and T-Accounts The stockholders’ equity of Fremantle Corporation at January 1...
Stockholders’ Equity Transactions, Journal Entries, and
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160,000
Paid-in capital in excess of par value-Preferred stock
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Paid-in capital in excess of par value-Common stock
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Problem 14-2A (Part Level Submission) The stockholders' equity accounts of Karp Company at January 1, 2017,...
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Stockholders’ Equity: Transactions and Balance Sheet
Presentation The stockholders’ equity of Summit Corporation at
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$500,000 Common stock, $15 par value, 100,000 shares authorized;
40,000 shares issued and outstanding 600,000 Paid-in capital in
excess of par value-Preferred stock 24,000 Paid-in capital in
excess of par value-Common stock 360,000 Retained earnings 325,000
Total Stockholders' Equity $1,809,000 The following transactions,
among others, occurred during the...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1...
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On January 1, 2020, Blossom Corporation had the following stockholders’ equity accounts.
On January 1, 2020, Blossom Corporation had the following stockholders’ equity accounts.Common Stock ($20 par value, 50,000 shares issued and outstanding)$1,000,000Paid-in Capital in Excess of Par—Common Stock190,000Retained Earnings550,000During the year, the following transactions occurred.Feb. 1Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.Mar. 1Paid the dividend declared in February.Apr. 1Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35.July 1Declared a 10% stock dividend to stockholders...
The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock...
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The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capitalin excess of Par Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1-Sep Paid the cash dividend declared on...
✓ P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock. $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par-Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock Aug 1 Discovered...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par—Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock. Aug. 1 Discovered $25,000...
Stockholders’ Equity Transactions, Journal Entries, and
T-Accounts
The stockholders’ equity of Fremantle Corporation at January 1
follows:
8 Percent preferred stock, $110 par value, 20,000 shares
authorized; 4,000 shares issued and outstanding
$440,000
Common stock, $4 par value, 10,000 shares
authorized; 40,000 shares issued and outstanding
160,000
Paid-in capital in excess of par value-Preferred stock
200,000
Paid-in capital in excess of par value-Common stock
800,000
Retained earnings
550,000
Total Stockholders' Equity
$2,150,000
The following transactions, among others, occurred during the...
Problem 14-2A (Part Level Submission) The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows: Preferred Stock, 696, $50 par Common Stock, $5 par Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $590,000 805,000 198,500 310,500 844,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Aug. 1 Sept. 1 Dec. 1 15 31 31 Declared...
Stockholders’ Equity: Transactions and Balance Sheet
Presentation The stockholders’ equity of Summit Corporation at
January 1 follows: 7 Percent preferred stock, $100 par value,
20,000 shares authorized; 5,000 shares issued and outstanding
$500,000 Common stock, $15 par value, 100,000 shares authorized;
40,000 shares issued and outstanding 600,000 Paid-in capital in
excess of par value-Preferred stock 24,000 Paid-in capital in
excess of par value-Common stock 360,000 Retained earnings 325,000
Total Stockholders' Equity $1,809,000 The following transactions,
among others, occurred during the...
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The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $600,000 2,000,000 30,000 960,000 Retained Earnings 1,376,000 Treasury Stock (10,000 common shares) 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares...
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