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On May 31, 2022, Martinez Landscaping's common shares were trading for $15, and the company had...
On May 31, 2022, Martinez Landscaping’s common shares were trading for $15, and the company had...
On May 31, 2022, Martinez Landscaping’s common shares were
trading for $15, and the company had the following shareholder’s
equity accounts:
Common Shares (no par value, unlimited authorized,
1,060,000 issued, and
outstanding)
$3,180,000
Contributed Surplus-Common Shares
1,290,000
Retained earnings
21,270,000
Prepare the journal entries for the following independent
transactions. (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for...
Current Attempt in Progress Aloue Corp., a publicly traded company, had 2,800 preferred shares issued with...
Current Attempt in Progress Aloue Corp., a publicly traded company, had 2,800 preferred shares issued with a balance of $58,800 and 127,000 common shares issued with a balance of $635,000 at the beginning of the year. The following share transactions occurred during the year: June Issued 49,500 common shares for $6 per share. 12 July Issued 1,000 preferred shares for $25 per share. 11 Oct. 1 Issued 9,400 common shares in exchange for land. The common shares were trading for...
On January 1, 2022, Martinez Corp. had these stockholders' equity accounts. Common Stock ($10 par value,...
On January 1, 2022, Martinez Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 69,000 shares issued and outstanding) $690,000 Paid-in Capital in Excess of Par Value 484,000 Retained Earnings 640,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15,...
On January 1, 2018, Accustart Corporation had 72,000 common shares, recorded at $660,000, and retained earnings...
On January 1, 2018, Accustart Corporation had 72,000 common shares, recorded at $660,000, and retained earnings of $1,050,000. During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
On January 1, 2018, Richetti Corporation had 72,000 common shares, recorded at $602,000, and retained earnings of $1,04...
On January 1, 2018, Richetti Corporation had 72,000 common shares, recorded at $602,000, and retained earnings of $1,047,000. During the year, the following transactions occurred: Apr. 2 Issued 5,100 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
Calculate the average per share amount of the preferred and common shares at January 1, 2021....
Calculate the average per share amount of the preferred and
common shares at January 1, 2021.
WileyPLUS Problem 13-3 Manion Merchandising Inc. had the following share capital and balances on January 1, 2021. $1,670,000 $2.50 cumulative preferred shares, convertible into common shares at a ratio of 4 common shares for 1 preferred share, unlimited number of shares authorized, 100,000 shares issued Common shares, unlimited number of shares authorized, 700,000 shares issued 2,450,000 The following transactions relating to shares occurred in...
On December 31, 2021, Sunland Company had 1,280,000 shares of $6 par common stock issued and...
On December 31, 2021, Sunland Company had 1,280,000 shares of $6 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $7,680,000 1,790,000 1.280,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $113 per share 126,000 shares of $103 par value, 9% cumulative preferred stock. 2. On February 8, reacquired 12,500 shares of its...
On December 31, 2021, Sheridan Company had 1,310,000 shares of $7 par common stock issued and...
On December 31, 2021, Sheridan Company had 1,310,000 shares of $7 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,170,000 1,860,000 1,120,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $109 per share 114,000 shares of $100 par value, 9% cumulative preferred stock. 2. On February 8, reacquired 16,900 shares of its...
On January 1, 2018, Duffy Dog Corporation had 76,000 common shares, recorded at $653,000, and retained...
On January 1, 2018, Duffy Dog Corporation had 76,000 common shares, recorded at $653,000, and retained earnings of $1,044,000. During the year, the following transactions occurred: Apr. 2 Issued 4,600 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were...
On December 31, 2021, Crane Company had 1,380,000 shares of $7 par common stock issued and...
On December 31, 2021, Crane Company had 1,380,000 shares of $7 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,660,000 1,805,000 1,255,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $107 per share 111,000 shares of $100 par value, 7% cumulative preferred stock. 2. On February 8, reacquired 12,800 shares of its...
On May 31, 2022, Martinez Landscaping’s common shares were
trading for $15, and the company had the following shareholder’s
equity accounts:
Common Shares (no par value, unlimited authorized,
1,060,000 issued, and
outstanding)
$3,180,000
Contributed Surplus-Common Shares
1,290,000
Retained earnings
21,270,000
Prepare the journal entries for the following independent
transactions. (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for...
Current Attempt in Progress Aloue Corp., a publicly traded company, had 2,800 preferred shares issued with a balance of $58,800 and 127,000 common shares issued with a balance of $635,000 at the beginning of the year. The following share transactions occurred during the year: June Issued 49,500 common shares for $6 per share. 12 July Issued 1,000 preferred shares for $25 per share. 11 Oct. 1 Issued 9,400 common shares in exchange for land. The common shares were trading for...
On January 1, 2022, Martinez Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 69,000 shares issued and outstanding) $690,000 Paid-in Capital in Excess of Par Value 484,000 Retained Earnings 640,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15,...
On January 1, 2018, Accustart Corporation had 72,000 common shares, recorded at $660,000, and retained earnings of $1,050,000. During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
On January 1, 2018, Richetti Corporation had 72,000 common shares, recorded at $602,000, and retained earnings of $1,047,000. During the year, the following transactions occurred: Apr. 2 Issued 5,100 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
Calculate the average per share amount of the preferred and
common shares at January 1, 2021.
WileyPLUS Problem 13-3 Manion Merchandising Inc. had the following share capital and balances on January 1, 2021. $1,670,000 $2.50 cumulative preferred shares, convertible into common shares at a ratio of 4 common shares for 1 preferred share, unlimited number of shares authorized, 100,000 shares issued Common shares, unlimited number of shares authorized, 700,000 shares issued 2,450,000 The following transactions relating to shares occurred in...
On December 31, 2021, Sunland Company had 1,280,000 shares of $6 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $7,680,000 1,790,000 1.280,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $113 per share 126,000 shares of $103 par value, 9% cumulative preferred stock. 2. On February 8, reacquired 12,500 shares of its...
On December 31, 2021, Sheridan Company had 1,310,000 shares of $7 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,170,000 1,860,000 1,120,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $109 per share 114,000 shares of $100 par value, 9% cumulative preferred stock. 2. On February 8, reacquired 16,900 shares of its...
On December 31, 2021, Crane Company had 1,380,000 shares of $7 par common stock issued and outstanding. At December 31, 2021, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,660,000 1,805,000 1,255,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $107 per share 111,000 shares of $100 par value, 7% cumulative preferred stock. 2. On February 8, reacquired 12,800 shares of its...
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