Homework Answers
| 01/03/20 | Bank ( 15000@$15) | Dr | $225,000.00 | ||
| Equity Share Capital | Cr | $225,000.00 | |||
| 01/15/20 | Treasury Stock(5000@$17) | Dr | $85,000.00 | ||
| Bank | Cr | $85,000.00 | |||
| 01/22/20 | Reserves & Surplus(15000@$1.5) | Dr | $22,500.00 | ||
| Dividend Payable | Cr | $22,500.00 | |||
| 02/08/20 | Dividend Payable | Dr | $22,500.00 | ||
| Bank | Cr | $22,500.00 | |||
| 09/01/20 | Reserves & Surplus($225000*5%) | Dr | $11,250.00 | ||
| Dividend Payable | Cr | $11,250.00 | |||
| 10/01/20 | Dividend Payable | Dr | $11,250.00 | ||
| Bank | Cr | $11,250.00 | |||
| 10/01/20 | Bank (2000@$18) | Dr | $36,000.00 | ||
| Treasury Stock | Cr | $34,000.00 | |||
| Profit on Sale of Treasury Stock(2000@$1) | Cr | $2,000.00 | |||
| 12/15/20 | Bank (3000@$14) | Dr | $42,000.00 | ||
| Loss on Sale of Treasury Stock(3000@$3) | Dr | $9,000.00 | |||
| Treasury Stock | Cr | $51,000.00 |
Note: It is assumed that the shares issued are of Face Value i.e. $15.
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JAI, 2021 Talu te est le bonds 2. BCC Inc. has 390,000 shares of $10 par...
JA , 2021 Talute ICSI Ulte bonds 2. BCC Inc. has 390,000 shares of $10 par...
JA , 2021 Talute ICSI Ulte bonds 2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for S15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,230,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
transactions during 2014 Summerborn Manufacturing, Co. completed the following 900 $ 100 5% Preferred Common80,000 6...
transactions during 2014 Summerborn Manufacturing, Co. completed the following 900 $ 100 5% Preferred Common80,000 6 16-Jan Declared a cash dividend on the 5%, $100 par noncumulative preferred stock (900 shares outstanding). Declared a So.30 per share dividend on the 80,000 shares of $6 par value common stock outstanding. The date of record is $0.30 15-Feb Paid the cash dividends. 0-Jun Split common stock 2-for-1 30-Jul Declared a 50% stock dividend on the common stock. The market value of the...
Vancouver Company reports the following components of stockholders' equity on December 31, 2016 Common stock-$10 par...
Vancouver Company reports the following components of stockholders' equity on December 31, 2016 Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, Retained earnings $500,000 75,000 common stock 410,000 $985,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,000 shares of its own stock at $23 cash per share Jan $2 per share cash dividend payable on February 28 to 5 Directors...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,230,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $189,620 140,689 340, $662,820 Stockholders' Equity (December 31) Common stock-$6 par value, 188,880 shares authorized, 35, eee shares issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (358,820 restricted by treasury stock) $21e.see 16e, see 420.889 790,820 (Se.820) $749,800 Less cost of treasury...
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 70, eee 370 eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per...
JA , 2021 Talute ICSI Ulte bonds 2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for S15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
transactions during 2014 Summerborn Manufacturing, Co. completed the following 900 $ 100 5% Preferred Common80,000 6 16-Jan Declared a cash dividend on the 5%, $100 par noncumulative preferred stock (900 shares outstanding). Declared a So.30 per share dividend on the 80,000 shares of $6 par value common stock outstanding. The date of record is $0.30 15-Feb Paid the cash dividends. 0-Jun Split common stock 2-for-1 30-Jul Declared a 50% stock dividend on the common stock. The market value of the...
Vancouver Company reports the following components of stockholders' equity on December 31, 2016 Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, Retained earnings $500,000 75,000 common stock 410,000 $985,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,000 shares of its own stock at $23 cash per share Jan $2 per share cash dividend payable on February 28 to 5 Directors...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $189,620 140,689 340, $662,820 Stockholders' Equity (December 31) Common stock-$6 par value, 188,880 shares authorized, 35, eee shares issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (358,820 restricted by treasury stock) $21e.see 16e, see 420.889 790,820 (Se.820) $749,800 Less cost of treasury...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 70, eee 370 eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per...
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