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Send to Gradebook Question 2 View Policies Show Attempt History Current Attempt in Progress - Your answer is partially correct. On July 1, Sage Hill Inc. purchases 420 shares of its $5 par value common stock for the treasury at a cash price $10 per share. Journalize the treasury stock transaction Credit account titles are automatically indented when amount is and Do not inden o lyan entry is required, select "No Entry for the accountitles and enter for the ar...
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Question 6 --/1 View Policies Current Attempt in Progress Before Bonita Corporation engages in the following treasury stock transactions, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share). Paid-in Capital in Excess of Par-Common Stock Common Stock Retained Earnings $103,500 $260.700 $82,700 Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented...
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Question 13 View Policies Current Attempt in Progress Presented below is information related to Wyrick Company 2 1 The company is granted a charter that authorizes issuance of 15.000 shares of $100 par value preferred stock and 40,000 shares of no par common stock 9,000 shares of common stock we issued to the founders of the corporation for land valued by the board of directors at $320,000. The board establishes a stated value of $10 a share for...
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Question 5 of 9 -/1 View Policies Current Attempt in Progress Metlock Inc, has outstanding 11,100 shares of $10 par value common stock. On July 1, 2017, Metlock reacquired 101 shares at $88 per share. On September 1, Metlock reissued 61 shares at $91 per share. On November 1, Metlock reissued 40 shares at $86 per share. Prepare Metlock's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do...
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Question 5 View Policies Current Attempt in Progress Splish Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,800 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94.000 298,000 319,000 $711,000 During 2020, the following transactions occurred. Feb. 1 Splish repurchased 2,100 shares of treasury stock at a price of $21 per share. Mar. 1 780 shares of treasury stock repurchased above were reissued at $19 per...
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--/1 Question 1 View Policies Current Attempt in Progress Splish Company began operations in 2017 and determined its ending inventory at cost and at LCNRV at December 31, 2017, and December 31, 2018. This information is presented below. Net Realizable Value Cost 12/31/17 $341,860 $318,330 12/31/18 376,520 357,230 (a) Prepare the journal entries required at December 31, 2017, and December 31, 2018, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. (Credit account titles...
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Question 4 Current Attempt in Progress Snow Cabegan operations on January 2, 2017. It employs 14 people who work hour days. Each employee earns 11 paid vacation days and Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was $21 in 2017 and $22.50 in 2018. The average vacation days used by each employee in 2018 was 10. Snow Co.accrues the cost of compensated absences...
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Question 2 0.8/1 View Policies Show Attempt History Current Attempt in Progress . Your answer is partially correct. Pina Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $123,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. Prepare the journal entry for the issuance when...
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View Policies Current Attempt In Progress The stockholders' equity accounts of Pina Colada Corp. on January 1, 2017, were as follows. $249.000 1,437,499 12.450 Preferred Stock (7%, $100 par noncumulative, 4, 150 shares authorized) Common Stock (55 stated value, 345,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,150 common shares) 694,000 33.200 During 2017, the corporation had the following transactions and events pertaining to its...
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Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares of no-par common stock at a cash price of $5 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles...
Send to Gradebook Question 2 View Policies Show Attempt History Current Attempt in Progress - Your answer is partially correct. On July 1, Sage Hill Inc. purchases 420 shares of its $5 par value common stock for the treasury at a cash price $10 per share. Journalize the treasury stock transaction Credit account titles are automatically indented when amount is and Do not inden o lyan entry is required, select "No Entry for the accountitles and enter for the ar...
Question 6 --/1 View Policies Current Attempt in Progress Before Bonita Corporation engages in the following treasury stock transactions, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share). Paid-in Capital in Excess of Par-Common Stock Common Stock Retained Earnings $103,500 $260.700 $82,700 Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented...
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Question 13 View Policies Current Attempt in Progress Presented below is information related to Wyrick Company 2 1 The company is granted a charter that authorizes issuance of 15.000 shares of $100 par value preferred stock and 40,000 shares of no par common stock 9,000 shares of common stock we issued to the founders of the corporation for land valued by the board of directors at $320,000. The board establishes a stated value of $10 a share for...
Question 5 of 9 -/1 View Policies Current Attempt in Progress Metlock Inc, has outstanding 11,100 shares of $10 par value common stock. On July 1, 2017, Metlock reacquired 101 shares at $88 per share. On September 1, Metlock reissued 61 shares at $91 per share. On November 1, Metlock reissued 40 shares at $86 per share. Prepare Metlock's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do...
Question 5 View Policies Current Attempt in Progress Splish Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,800 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94.000 298,000 319,000 $711,000 During 2020, the following transactions occurred. Feb. 1 Splish repurchased 2,100 shares of treasury stock at a price of $21 per share. Mar. 1 780 shares of treasury stock repurchased above were reissued at $19 per...
--/1 Question 1 View Policies Current Attempt in Progress Splish Company began operations in 2017 and determined its ending inventory at cost and at LCNRV at December 31, 2017, and December 31, 2018. This information is presented below. Net Realizable Value Cost 12/31/17 $341,860 $318,330 12/31/18 376,520 357,230 (a) Prepare the journal entries required at December 31, 2017, and December 31, 2018, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. (Credit account titles...
Question 4 Current Attempt in Progress Snow Cabegan operations on January 2, 2017. It employs 14 people who work hour days. Each employee earns 11 paid vacation days and Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was $21 in 2017 and $22.50 in 2018. The average vacation days used by each employee in 2018 was 10. Snow Co.accrues the cost of compensated absences...
Question 2 0.8/1 View Policies Show Attempt History Current Attempt in Progress . Your answer is partially correct. Pina Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $123,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. Prepare the journal entry for the issuance when...
View Policies Current Attempt In Progress The stockholders' equity accounts of Pina Colada Corp. on January 1, 2017, were as follows. $249.000 1,437,499 12.450 Preferred Stock (7%, $100 par noncumulative, 4, 150 shares authorized) Common Stock (55 stated value, 345,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,150 common shares) 694,000 33.200 During 2017, the corporation had the following transactions and events pertaining to its...
Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares of no-par common stock at a cash price of $5 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles...