Homework Answers
| Part-1 | |||
| Date | Account Titles and Explanation | Debit | Credit |
| Cash (10000 X8) | $80,000.00 | ||
| Common Stock (10000X1) | $10,000.00 | ||
| Paid up Capital in Excess of Par- Common Stock | $70,000.00 | ||
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6. London Corporation has two classes of stock Common, $1 par value, and Preferred, $4 par...
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value....
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value....
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
2 of 20 This Test: 100 pts possible This Question: 5 pts 6. London Corporation has...
2 of 20 This Test: 100 pts possible This Question: 5 pts 6. London Corporation has two dlasses of stock Common, $1 par value, and Preferred, $4 par value. Journalize the issuance of 10,000 shares of common stock for $8 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par...
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par value. Journalize the issuance of 8,000 shares of common stock for $14 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations | Debit Credit On March 1, 2018, Barker Services issued a 4% long-term notes payable for $20,000. It is payable over a 5-year term in $6,000 annual principal payments...
Arizona Corporation has two classes of stock: common, $5 par value; and preferred, $15 par value....
Arizona Corporation has two classes of stock: common, $5 par value; and preferred, $15 par value. Requirements 1. Journalize Arizona's issuance of 2,500 shares of common stock for $8 per share. 2. Journalize Arizona's issuance of 2,500 shares of preferred stock for a total of $37,500
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $34 per share. February 6 Issues 2,900 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $39 per share. December 15 Resells 5,000 shares of treasury stock at $44 per...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common....
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 430 shares of preferred stock and 5,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 2,400 shares of common stock for $55 per share. May 15 Purchase 530 shares of treasury stock for $48 per share. July 10 Resell 330 shares of treasury stock purchased on May 15...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, Its first year of operations: January 2 Issues 100,000 shares of common stock for $31 per share. February 6 Issues 2,600 shares of Be preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $36 per share. December 15 Resells 5,000 shares of treasury stock at $41 per...
1 Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following...
1 Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: 2 Issues 100,000 shares of common stock for $15 per share 6 Issues 1,000 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $20 per share December 15 Resells 6,000 shares of treasury stock at $25 per share....
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
2 of 20 This Test: 100 pts possible This Question: 5 pts 6. London Corporation has two dlasses of stock Common, $1 par value, and Preferred, $4 par value. Journalize the issuance of 10,000 shares of common stock for $8 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par value. Journalize the issuance of 8,000 shares of common stock for $14 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations | Debit Credit On March 1, 2018, Barker Services issued a 4% long-term notes payable for $20,000. It is payable over a 5-year term in $6,000 annual principal payments...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $34 per share. February 6 Issues 2,900 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $39 per share. December 15 Resells 5,000 shares of treasury stock at $44 per...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 430 shares of preferred stock and 5,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 2,400 shares of common stock for $55 per share. May 15 Purchase 530 shares of treasury stock for $48 per share. July 10 Resell 330 shares of treasury stock purchased on May 15...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, Its first year of operations: January 2 Issues 100,000 shares of common stock for $31 per share. February 6 Issues 2,600 shares of Be preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $36 per share. December 15 Resells 5,000 shares of treasury stock at $41 per...
1 Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: 2 Issues 100,000 shares of common stock for $15 per share 6 Issues 1,000 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $20 per share December 15 Resells 6,000 shares of treasury stock at $25 per share....
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