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A tract of land valued at $50,000 has been given to a corporation on July 31,...
CP 11–4 A tract of land valued at $50,000 has been given to a corporation on...
CP 11–4 A tract of land valued at $50,000 has been given to a corporation on July 31, 2019 in exchange for 1,000 shares of no‐par value preferred stock. Required: 1. Prepare the journal entry to record the transaction. 2. Where would the transaction be classified in the balance sheet?
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following...
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its...
Sudoku Company issues 27,000 shares of $9 par value common stock in exchange for land and...
Sudoku Company issues 27,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $235,000 and the building at $362,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 27,000 shares of $9 par value common stock in exchange for land valued at $235,000 and a building valued at $362,000. Note: Enter debits...
Sudoku Company issues 18,000 shares of $8 par value common stock in exchange for land and...
Sudoku Company issues 18,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $226,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 18,000 shares of $8 par value common stock in exchange for land valued at $226,000 and a building valued at $363,000. Note: Enter debits...
Sudoku Company issues 31,000 shares of $6 par value common stock in exchange for land and...
Sudoku Company issues 31,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $241,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list Journal entry worksheet Record the issue of 31,000 shares of $6 par value common stock in exchange for land valued at $241,000 and a building valued at $363,000. Note: Enter debits...
Sudoku Company issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is v...
Sudoku Company issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $227.000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Land Building
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of...
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction. 3. 4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $3 noncumulative preferred stock, $50 par, and 100,000 shares of $10 par common stock. Jounalize the following transactions that were completed during the first year of operations: Jan. 30 Issued...
(stock issuances and repurchase) Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5 par...
(stock issuances and repurchase) Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5 par value common stock. During 2017, Lindsey Hunter took part in the following selected transactions. 1) issued 5,000 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,000 2) issued 1,000 shares of stock for land appraised at $50,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the date...
Bobbit charter authorizes 200,000 shares of $20 par value common stock and 50,000 shares of 6%...
Bobbit charter authorizes 200,000 shares of $20 par value common stock and 50,000 shares of 6% cumulative and nonparticipating preferred stock, par value $100/sh. Bobbit engaged in the following stock transactions 1. Issued 40,000 shares of common stock for $1,920,000 2. Issued 10,000 shares of preferred stock in exchange for machinery valued at $1,120,000 3. Purchased 1,000 shares of common stock at $46/sh for the treasury. 4. Sold 500 shares of treasury stock for $51 per share At Dec 31,...
E15-6 (Stock Issuances and Repurchase) Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5...
E15-6 (Stock Issuances and Repurchase) Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5 par value common stock. During 2014, Lindsey Hunter took part in the following selected transactions. 1. Issued 5,000 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,000. 2. Issued 1,000 shares of stock for land appraised at $50,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the...
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its...
Sudoku Company issues 27,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $235,000 and the building at $362,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 27,000 shares of $9 par value common stock in exchange for land valued at $235,000 and a building valued at $362,000. Note: Enter debits...
Sudoku Company issues 18,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $226,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 18,000 shares of $8 par value common stock in exchange for land valued at $226,000 and a building valued at $363,000. Note: Enter debits...
Sudoku Company issues 31,000 shares of $6 par value common stock in exchange for land and a building. The land is valued at $241,000 and the building at $363,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list Journal entry worksheet Record the issue of 31,000 shares of $6 par value common stock in exchange for land valued at $241,000 and a building valued at $363,000. Note: Enter debits...
Sudoku Company issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $227.000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Land Building
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction. 3. 4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $3 noncumulative preferred stock, $50 par, and 100,000 shares of $10 par common stock. Jounalize the following transactions that were completed during the first year of operations: Jan. 30 Issued...
Bobbit charter authorizes 200,000 shares of $20 par value common stock and 50,000 shares of 6% cumulative and nonparticipating preferred stock, par value $100/sh. Bobbit engaged in the following stock transactions 1. Issued 40,000 shares of common stock for $1,920,000 2. Issued 10,000 shares of preferred stock in exchange for machinery valued at $1,120,000 3. Purchased 1,000 shares of common stock at $46/sh for the treasury. 4. Sold 500 shares of treasury stock for $51 per share At Dec 31,...
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