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Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par...
Problem 3- Complete the journal entries. value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sl...
Problem 3- Complete the journal entries.
value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sllall ULUU PUI share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend. Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th...
Redlands, Inc. began business on January 1, 2013. The firm initially capitalized its operations by issuing...
Redlands, Inc. began business on January 1, 2013. The firm initially capitalized its operations by issuing 12 shares of common stock with a $1 par value at $8 per share. On July 1, 2013, Redlands issued a $100, ten-year, term bond. Redlands received only $80 in cash by issuing the bond because the stated rate of interest on the bonds was 8%, but the market rate of interest was more than 8% on July 1, 2013. The bond contract requires...
Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares...
Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares of its $1 par value common stock for $36 per share. On June 30, knapp declared a cash dividend of $2.75 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 370,000 of its own shares of stock for $41 per share. On December 22, Knapp resold 185,000 of these shares for...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 113,000 shares...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 113,000 shares of $10 par common stock. 9,500 shares of $150 par, 5 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 9,500 shares of preferred stock and a $3 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding....
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
Kenny Co. began operations on January 1, 2014, by issuing at $15 per share one-half of...
Kenny Co. began operations on January 1, 2014, by issuing at $15 per share one-half of the 950,000 shares of $1 par value common stock that had been authorized for sale. In addition, Kenny has 500,000 shares of $5 par value, 6% preferred shares authorized. During 2014, Kenny has $1,025,000 of net income and declared $237,500 of dividends. During 2015, Kenny had the following transactions: Jan. 10 Issued an additional 100,000 shares of common stock for $17 per share. Apr....
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 91,000 shares of common stock for $603,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 9,000 shares of common stock for the treasury for $19 per share. Dec. 15 Declared a cash dividend...
On January 1, Vancouver Ltd.’s equity was as follows: common shares, 1,000,000 shares authorized, 525,000 shares...
On January 1, Vancouver Ltd.’s equity was as follows: common shares, 1,000,000 shares authorized, 525,000 shares issued. Prepare journal entries to record the following transactions: May 1 A cash dividend of $1.10 per share was declared by the board of directors to shareholders of record on May 20, payable on June 1. June 1 Paid the cash dividend.
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1.54,000 shares...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1.54,000 shares of $6 par common stock. 2.5,000 shares of $140 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $5 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount...
Problem 3- Complete the journal entries.
value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sllall ULUU PUI share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend. Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th...
Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares of its $1 par value common stock for $36 per share. On June 30, knapp declared a cash dividend of $2.75 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 370,000 of its own shares of stock for $41 per share. On December 22, Knapp resold 185,000 of these shares for...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1.54,000 shares of $6 par common stock. 2.5,000 shares of $140 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $5 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount...
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