Homework Answers
Journal entries
| Date | Account and explanation | debit | credit |
| Mar 2 | Organisation fees | 28700 | |
| Common Stock (4000*6) | 24000 | ||
| Paid in capital in excess of par value-Common Stock | 4700 | ||
| (To record issue common Stock) | |||
| June 12 | Cash | 450200 | |
| Common Stock (62800*6) | 376800 | ||
| Paid in capital in excess of par value-Common Stock | 73400 | ||
| (To record issue common Stock) | |||
| July 11 | Cash (1975*140) | 276500 | |
| Preferred stock (1975*110) | 217250 | ||
| Paid in capital in excess of par value-preferred Stock | 59250 | ||
| (To record preferred stock) | |||
| Nov 28 | Treasury stock | 76500 | |
| cash | 76500 | ||
| (To record purchase treasury stock) | |||
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ment Quay Co. had the following transactions during the current period. une 12 Issued 62,800 shares...
Exercise 11-8 Quay Co. had the following transactions during the current period. Mar. 2 Issued 4,000...
Exercise 11-8 Quay Co. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of $6 par value common stock to attorneys in payment of a bill for $28,700 for services performed in helping the company to incorporate. June 12 Issued 62,800 shares of $6 par value common stock for cash of $450,200. July 11 Issued 1,975 shares of $110 par value preferred stock for cash at $140 per share. Nov. 28 Purchased 1,560 shares of treasury...
Exercise 11-7 Quay Co. had the following transactions during the current period. Mar. 2 Issued 4,400...
Exercise 11-7
Quay Co. had the following transactions during the current
period.
Mar.
2
Issued 4,400 shares of $5 par value common stock to attorneys
in payment of a bill for $26,800 for services performed in helping
the company to incorporate.
June
12
Issued 55,700 shares of $5 par value common stock for cash of
$345,400.
July
11
Issued 2,700 shares of $110 par value preferred stock for cash
at $130 per share.
Nov.
28
Purchased 2,200 shares of treasury...
Dukas Co. had these transactions during the current period. June 12 Issued 80,000 shares of $1...
Dukas Co. had these transactions during the current period. June 12 Issued 80,000 shares of $1 par value common stock for cash $300,000. July 11 Issued 3,000 shares of $100 par value preffered stock for cash at $106 per share. Nov 28 Purchased 2,000 shares of treasury stock for $9,000. Prepare the journal entries for the Dukas Co. transactions shown on page 604.
E11-2 Sagan Co. had these transactions during the current period. Issued 80,000 shares of $1 par...
E11-2 Sagan Co. had these transactions during the current period. Issued 80,000 shares of $1 par value common stock for cash of $300,000. June 12 July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. Instructions Prepare the journal entries for the Sagan Co. transactions.
Carla Vista Co. had these transactions during the current period. June 12 Issued 78,500 shares of...
Carla Vista Co. had these transactions during the current period. June 12 Issued 78,500 shares of $1 par value common stock for cash of $294.375. July 11 Issued 3.250 shares of $101 par value preferred stock for cash at $109 per share. Nov. 28 Purchased 1,750 shares of treasury stock for $9.700. Prepare the journal entries for the Carla Vista Co, transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically Indented...
Whispering Winds Corp. had the following transactions during the current period. Issued 4,000 shares of $6...
Whispering Winds Corp. had the following transactions during the current period. Issued 4,000 shares of $6 par value common stock to attorneys in payment of a bill for $28,700 for services performed in helping the company Mar. 2 to incorporate. Issued 62,800 shares of $6 par value common stock for cash of $450,200. June 12 Issued 1,975 shares of $110 par value preferred stock for cash at $140 per share. July 11 Purchased 1,560 shares of treasury stock for $76,500....
Bramble Co. had the following transactions during the current period. Mar. 2 Issued 4,700 shares of...
Bramble Co. had the following transactions during the current
period.
Mar.
2
Issued 4,700 shares of $4 par value common stock to attorneys
in payment of a bill for $23,100 for services performed in helping
the company to incorporate.
June
12
Issued 56,700 shares of $4 par value common stock for cash of
$298,600.
July
11
Issued 2,900 shares of $110 par value preferred stock for cash
at $130 per share.
Nov.
28
Purchased 2,260 shares of treasury stock for...
Blue Spruce Corp. had the following transactions during the current period. Mar. 2 Issued 6,100 shares...
Blue Spruce Corp. had the following transactions during the current period. Mar. 2 Issued 6,100 shares of $5 par value common stock to attorneys in payment of a bill for $36,600 for services performed in helping the company to incorporate. June 12 Issued 57 500 shares of $5 par value common stock for cash of $359,375 July 11 Issued 1.200 shares of $100 par value preferred stock for cash at $10 per share. Nov. 28 Purchased 2,500 shares of treasury...
please help Crane Company had these transactions during the current period June 12 Issued 87,000 shares...
please help
Crane Company had these transactions during the current period June 12 Issued 87,000 shares of $1 par value common stock for cash of $326,250. July 11 Issued 2,800 shares of $101 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 3,450 shares of treasury stock for $8,250 Prepare the journal entries for the Crane Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented...
Exercise 11-2 Blossom Company had these transactions during the current period. June 12 Issued 82,000 shares...
Exercise 11-2 Blossom Company had these transactions during the current period. June 12 Issued 82,000 shares of $1 par value common stock for cash of $307,500. July 11 Issued 3,700 shares of $101 par value preferred stock for cash at $105 per share. Nov. 28 Purchased 2,450 shares of treasury stock for $8,800. Prepare the journal entries for the Blossom Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented...
Exercise 11-8 Quay Co. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of $6 par value common stock to attorneys in payment of a bill for $28,700 for services performed in helping the company to incorporate. June 12 Issued 62,800 shares of $6 par value common stock for cash of $450,200. July 11 Issued 1,975 shares of $110 par value preferred stock for cash at $140 per share. Nov. 28 Purchased 1,560 shares of treasury...
Exercise 11-7
Quay Co. had the following transactions during the current
period.
Mar.
2
Issued 4,400 shares of $5 par value common stock to attorneys
in payment of a bill for $26,800 for services performed in helping
the company to incorporate.
June
12
Issued 55,700 shares of $5 par value common stock for cash of
$345,400.
July
11
Issued 2,700 shares of $110 par value preferred stock for cash
at $130 per share.
Nov.
28
Purchased 2,200 shares of treasury...
E11-2 Sagan Co. had these transactions during the current period. Issued 80,000 shares of $1 par value common stock for cash of $300,000. June 12 July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. Instructions Prepare the journal entries for the Sagan Co. transactions.
Carla Vista Co. had these transactions during the current period. June 12 Issued 78,500 shares of $1 par value common stock for cash of $294.375. July 11 Issued 3.250 shares of $101 par value preferred stock for cash at $109 per share. Nov. 28 Purchased 1,750 shares of treasury stock for $9.700. Prepare the journal entries for the Carla Vista Co, transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically Indented...
Whispering Winds Corp. had the following transactions during the current period. Issued 4,000 shares of $6 par value common stock to attorneys in payment of a bill for $28,700 for services performed in helping the company Mar. 2 to incorporate. Issued 62,800 shares of $6 par value common stock for cash of $450,200. June 12 Issued 1,975 shares of $110 par value preferred stock for cash at $140 per share. July 11 Purchased 1,560 shares of treasury stock for $76,500....
Bramble Co. had the following transactions during the current
period.
Mar.
2
Issued 4,700 shares of $4 par value common stock to attorneys
in payment of a bill for $23,100 for services performed in helping
the company to incorporate.
June
12
Issued 56,700 shares of $4 par value common stock for cash of
$298,600.
July
11
Issued 2,900 shares of $110 par value preferred stock for cash
at $130 per share.
Nov.
28
Purchased 2,260 shares of treasury stock for...
Blue Spruce Corp. had the following transactions during the current period. Mar. 2 Issued 6,100 shares of $5 par value common stock to attorneys in payment of a bill for $36,600 for services performed in helping the company to incorporate. June 12 Issued 57 500 shares of $5 par value common stock for cash of $359,375 July 11 Issued 1.200 shares of $100 par value preferred stock for cash at $10 per share. Nov. 28 Purchased 2,500 shares of treasury...
please help
Crane Company had these transactions during the current period June 12 Issued 87,000 shares of $1 par value common stock for cash of $326,250. July 11 Issued 2,800 shares of $101 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 3,450 shares of treasury stock for $8,250 Prepare the journal entries for the Crane Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented...
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