Homework Answers
| Journal Entry-Quick Co. | |||
| Date | Account Tittlee | Debit | Credit |
| 2-Mar | Organization Expense | $60,000.00 | |
| Common Stock (5000X10) | $500,000.00 | ||
| Paid In Capaital in excess of Par- Common stock | $100,000.00 | ||
| 12-Jun | Cash | $750,000.00 | |
| Common Stock (60000X10) | $600,000.00 | ||
| Paid In Capital in excess of Par- Common stock (bf) | $150,000.00 | ||
| 11-Jul | Cash (55X1000) | $55,000.00 | |
| Preferred Stock (1000X50) | $50,000.00 | ||
| Paid In Capital in excess of Par-Preferred stock (bf) | $5,000.00 | ||
| 28-Nov | Treasury Stock | $160,000.00 | |
| Cash | $160,000.00 | ||
| Computation of Cash provided by Investing Activity | |
| Sales of Land & Building | $191,000.00 |
| Purchase of Land | -$37,000.00 |
| Purchase of Equipment | -$53,000.00 |
| Net Cash Provided by Investing activity | $101,000.00 |
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Income Retained tanin hent 2 attempts Like E13.5 Journalize issuance of common and preferred stock and...
(Recording the Issuance of Common and Preferred Stock) Abernathy Corporation was organized on January 1, 2012....
(Recording the Issuance of Common and Preferred Stock) Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,000 shares of 8%, $50 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,000 shares of common stock for cash at $5 per share. Mar. 1 issued 5,000 shares of preferred stock for cash at...
(recording the issuance of common and preferred stock) Kathleen Battle Corporation was organized on January 1,...
(recording the issuance of common and preferred stock) Kathleen Battle Corporation was organized on January 1, 2017. It is authorized to issue 10,000 shares at 8%, $100 par value perferred stock, and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 - issued 80,000 shares of common stock for cash at $5 per share March 1 - issued 5,000 shares of perferred stock...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of no-par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,160 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated...
Section E--Capital Stock Transactions Golden Rams Corporation is granted a ch $50 par value preferred stock...
Section E--Capital Stock Transactions Golden Rams Corporation is granted a ch $50 par value preferred stock ms Corporation is granted a charter that authorizes the issuance of 100,000 shares of value preferred stock and 300.000 shares of $10 par value common stock. repare the journal entry to record the following transactions. 1. Golden Rams issued 3.000 shares of common stock to its attorneys for costs associated with starting the corporation. At that time, the common stock was selling at $15...
Pronghorn Corporation has been authorized to issue 21.000 shares of $100 par value, 10 preferred stock...
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Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of no-par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,160 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated...
Swifty Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock...
Swifty Corporation has been authorized to issue 20,500 shares
of $100 par value, 10%, preferred stock and 1,068,600 shares of
no-par common stock. The corporation assigned a $2.60 stated value
to the common stock. At December 31, 2020, the ledger contained the
following balances pertaining to stockholders’ equity.
Preferred Stock
$130,000
Paid-in Capital in Excess of Par—Preferred Stock
14,000
Common Stock
1,068,600
Paid-in Capital in Excess of Stated Value—Common Stock
2,219,400
Treasury Stock (1,160 common shares)
13,920
Paid-in Capital from...
Calculator eBook 42,000,000 Retained Eamings At the annual stockholders' meeting on March 31, the board of...
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need help on number one, two, and three B. (Recording the Issuance of Common and Preferred...
need help on number one, two, and three
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ABC Corporation is authorized to issue 1.000.000 shares of $1 par value common stock During 2020,...
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(Recording the Issuance of Common and Preferred Stock) Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,000 shares of 8%, $50 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,000 shares of common stock for cash at $5 per share. Mar. 1 issued 5,000 shares of preferred stock for cash at...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of no-par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,160 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated...
Section E--Capital Stock Transactions Golden Rams Corporation is granted a ch $50 par value preferred stock ms Corporation is granted a charter that authorizes the issuance of 100,000 shares of value preferred stock and 300.000 shares of $10 par value common stock. repare the journal entry to record the following transactions. 1. Golden Rams issued 3.000 shares of common stock to its attorneys for costs associated with starting the corporation. At that time, the common stock was selling at $15...
Pronghorn Corporation has been authorized to issue 21.000 shares of $100 par value, 10 preferred stock and 1.040.000 shares of no-nar common stock. The corporation ass $2.60 stated value to the common stock. At December 31, 2020, the ledger contants common stock. The corporation assigned a balances pertaining to stockholders' equity. At December 31, 2020, the ledger contained the following Preferred Stock $125,000 Pald-in Capital in Excess of Par-Preferred Stock 17,000 Common Stock 1,040,000 Paid-in Capital in Excess of Stated...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of no-par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,160 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated...
Swifty Corporation has been authorized to issue 20,500 shares
of $100 par value, 10%, preferred stock and 1,068,600 shares of
no-par common stock. The corporation assigned a $2.60 stated value
to the common stock. At December 31, 2020, the ledger contained the
following balances pertaining to stockholders’ equity.
Preferred Stock
$130,000
Paid-in Capital in Excess of Par—Preferred Stock
14,000
Common Stock
1,068,600
Paid-in Capital in Excess of Stated Value—Common Stock
2,219,400
Treasury Stock (1,160 common shares)
13,920
Paid-in Capital from...
Calculator eBook 42,000,000 Retained Eamings At the annual stockholders' meeting on March 31, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $18,300,000. The plan provided (a) that a building, valued at $3,200,000, and the land on which it is located, valued at $4,700,000, be acquired in accordance with preliminary negotiations by the issuance of 75,000 shares of common stock, (b) that 60,000 shares of the unissued preferred stock be issued...
need help on number one, two, and three
B. (Recording the Issuance of Common and Preferred Stock) Envy Gas Corporation was organized on June 1, 2019. It is authorized to issue 100,000 shares of 5%, $100 par value preferred stock, and 1,750,000 shares of no par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. June 15 Issued 165,000 shares of common stock for cash at $5 per share....
ABC Corporation is authorized to issue 1.000.000 shares of $1 par value common stock During 2020, its first year of operation, the company has the following stock transactions. Jan. 1 Issued 100,000 shares of stock at $12 per share. Jan. 30 Attorneys for the company accepted 500 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $8,000. July 2 Issued 10,000 shares of stock...
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