On January 1, Year 1, Davidson Corporation issues 1,000 shares of $1 par value common stock...
On January 1, Year 1, Davidson Corporation issues 1,000 shares of $1 par value common stock for $20 per share. Complete the necessary journal entry for the issuance of common stock by indicating the relevant account names and dollar amounts below. If more than one account title is debited or credited, enter the account titles in their alphabetical order.
Homework Answers
| Debit | Credit | ||
| Cash | 20000 | =1000*20 | |
| Common Stock | 1000 | =1000*1 | |
| Paid in Capital in excess of par-Common Stock | 19000 |
Add Answer to:
On January 1, Year 1, Davidson Corporation issues 1,000 shares
of $1 par value common stock...
60. On January 1, 2018, a company issues 1,000 shares of $1 par value common stock...
60. On January 1, 2018, a company issues 1,000 shares of $1 par value common stock for $20 per share. The journal entry to record this issuance would be: 61. On January 1, 2018, a company issues 1,000 shares of $1 no-par value common stock for $20 per share. The journal entry to record this issuance would be: 62. Suppose a company rents office space for one year, paying $12,000 ($1,000/month) in advance on September 1. Record the adjusting entry...
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $117,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is (b) Prepare the journal entry for the issuance when only the market price of the common stock is $176 each and market price of the preferred is $220 each. known and it is $204 per share. (Round...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $212 per share. (Round answers...
Nash Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Nash Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $212 per share. (Round...
Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round...
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1.
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2 2-b. Prepare the journal entry...
Exercise 15-5 Cheyenne Inc. issues 500 shares of $10 par value common stock and 100 shares...
Exercise 15-5 Cheyenne Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $105,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $180 per...
Exercise 15-5 Ivanhoe Inc. issues 500 shares of $10 par value common stock and 100 shares...
Exercise 15-5
Ivanhoe Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$122,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $180 each and market price of the
preferred is $225 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $214 per...
Exercise 15-05 Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares...
Exercise 15-05 Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per share. (Round...
60. On January 1, 2018, a company issues 1,000 shares of $1 par value common stock for $20 per share. The journal entry to record this issuance would be: 61. On January 1, 2018, a company issues 1,000 shares of $1 no-par value common stock for $20 per share. The journal entry to record this issuance would be: 62. Suppose a company rents office space for one year, paying $12,000 ($1,000/month) in advance on September 1. Record the adjusting entry...
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $117,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is (b) Prepare the journal entry for the issuance when only the market price of the common stock is $176 each and market price of the preferred is $220 each. known and it is $204 per share. (Round...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $212 per share. (Round answers...
Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round...
Exercise 15-5 Cheyenne Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $105,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $180 per...
Exercise 15-5
Ivanhoe Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$122,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $180 each and market price of the
preferred is $225 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $214 per...
Exercise 15-05 Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per share. (Round...
Most questions answered within 3 hours.
-
While rotating the tires on your car you notice a rock [mass =
0.1 Kg] stuck...
asked 42 minutes ago -
Using MARS simulator, write MIPS programs according to
the following scenarios: Receive a positive integer number...
asked 2 hours ago -
An object in front of a concave mirror has a real image that is
11.5 cm...
asked 2 hours ago -
Consider the reaction, C3 H8 + O2 --> CO2 + H2O. How many
moles of O2...
asked 4 hours ago -
You and your opponent both roll a fair die. If you both roll the
same number,...
asked 4 hours ago -
In a study of the accuracy of fast food​ drive-through orders,
Restaurant A had 257 accurate...
asked 4 hours ago -
Identify and describe in detail the four categories of
institutions that could be included in a...
asked 4 hours ago -
In python
class Customer:
def __init__(self, customer_id, last_name, first_name, phone_number, address):
self._customer_id = int(customer_id)
self._last_name =...
asked 5 hours ago -
What is an example of a limitation in implementing a new
ERP system and how it...
asked 4 hours ago -
In a section of 9.7cm of an artery with a radius of 2.6mm there
is a...
asked 4 hours ago -
the two carboxylic acid groups of aspartic acid have different
acidities with pKa values of 2.1...
asked 5 hours ago -
Would CuCO3 aqueous salt combined with calcium chloride
form a solid precipitate? If so, what would...
asked 4 hours ago