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37. Rodgers Corp. sold 50,000 shares of its $2 par value common stock at a market...
shares of its no-par common stock at $20 per share. Without making journal entries, determine the...
shares of its no-par common stock at $20 per share. Without making journal entries, determine the total paid-in capital created by these transactions. E13-21 Journalizing issuance of stock Steller Systems completed the following stock issuance transactions: May 19 Jun. 3 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Received equipment with a market value of $68,000 in exchange for 5,000 shares...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
Westglow Corporation purchased 3,000 shares of its $5 par value common stock for a cash price...
Westglow Corporation purchased 3,000 shares of its $5 par value common stock for a cash price of $10 per share. Two months later, Westglow sold the treasury stock for a cash price of $8 per share. Prepare the journal entry to record the sale of the treasury stock assuming (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) No balance in Paid-in Capital from Treasury Stock. (b) A $4,000 balance in Paid-in Capital...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry to record this transaction is debit Common Stock $50,000; debit Paid-in Capital in Excess of Par-Common $20,000; credit Cash $70,000. debit Cash $70,000; credit Common Stock $50,000; credit Paid-in Capital in Excess of Par-Common $20,000. debit Cash $70,000; credit Common Stock $70,000. debit Common Stock $70,000; credit Cash $70,000. Question 23 (2 points) Saved
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash...
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: Debit Common Stock $26,000; credit Cash $26,000. Debit Common Stock $26,000; debit Paid-in Capital in Excess of Par Value, Common Stock $286,000; credit Cash $312,000. Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value,...
D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of...
D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of $90-par value preferred stock. Give the general journal entry required in the attached workpaper to record the issue of 50,000 shares of common stock for $18 per share cash. D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of $90-par value preferred stock. Give the general journal entry required in the attached workpaper to...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
A corporation issued 5,000 shares of its no par common stock that was assigned a $1...
A corporation issued 5,000 shares of its no par common stock that was assigned a $1 stated value per share. The issue price was $10 per share. The entry to record this transaction would be Debit Cash $50,000; credit Paid-in Capital in Excess of Stated Value, Common Stock $45,000; credit Common Stock $5,000. Debit Cash $50,000; credit Common Stock $50,000. Debit Common Stock $50,000; credit Cash $50,000. Debit Treasury Stock $50,000; credit Cash $50,000. Debit Common Stock $25,000; debit Paid-in...
7 In some states, a company must set a Par Value to its Common Stock. But...
7 In some states, a company must set a Par Value to its Common Stock. But the Par Value is not necessarily the Market Value of that Common Stock. Please complete this equation: The Market Price of Common Stock on an Issue Date Par Value + 8 Treasury stock carried in the Equity section as a contra- equity account reflects the price paid for the common stock repurchased. The account is said to report this as a measure. This means...
shares of its no-par common stock at $20 per share. Without making journal entries, determine the total paid-in capital created by these transactions. E13-21 Journalizing issuance of stock Steller Systems completed the following stock issuance transactions: May 19 Jun. 3 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Received equipment with a market value of $68,000 in exchange for 5,000 shares...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry to record this transaction is debit Common Stock $50,000; debit Paid-in Capital in Excess of Par-Common $20,000; credit Cash $70,000. debit Cash $70,000; credit Common Stock $50,000; credit Paid-in Capital in Excess of Par-Common $20,000. debit Cash $70,000; credit Common Stock $70,000. debit Common Stock $70,000; credit Cash $70,000. Question 23 (2 points) Saved
D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of $90-par value preferred stock. Give the general journal entry required in the attached workpaper to record the issue of 50,000 shares of common stock for $18 per share cash. D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of $90-par value preferred stock. Give the general journal entry required in the attached workpaper to...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
7 In some states, a company must set a Par Value to its Common Stock. But the Par Value is not necessarily the Market Value of that Common Stock. Please complete this equation: The Market Price of Common Stock on an Issue Date Par Value + 8 Treasury stock carried in the Equity section as a contra- equity account reflects the price paid for the common stock repurchased. The account is said to report this as a measure. This means...
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