Homework Answers
| 1 |
| Cost of purchase = 40000*13.50= $540000 |
| The entry to record purchase of common stock is: |
| Treasury Stock-Common Debit for $540,000 and Cash credit for $540,000 |
| Treasury Stock-Common is Debited for $540,000 |
| Option B is correct |
| 2 |
| Total amount of paid-in Capital = 30000*23= $690,000 |
| Option B $690,000 is correct |
Add Answer to:
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Common Stock, $5.00 par, 207,000 shares authorized, 172,000 shares issued Paid in Capital in Excess of...
Common Stock, $5.00 par, 207,000 shares authorized, 172,000 shares issued Paid in Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity $860,000 205,000 229,000 $1.294,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common O A Retained Earnings is debited for $580,000 CIO B. Paid - In Capital from Treasury Stock Transactions is credited for $300,000 O C. Treasury Stock-Common is debited for $580,000 O D. Common Stock-$5.00...
Land Corporation reported the following: Common Stock, $ 5.00$5.00 par, 206 comma 000206,000 shares authorized, 167...
Land Corporation reported the following: Common Stock, $ 5.00$5.00 par, 206 comma 000206,000 shares authorized, 167 comma 000167,000 shares issued $ 835 comma 000$835,000 Paid in Capital in Excess of Parlong dash—Common 210 comma 000210,000 Retained Earnings 239 comma 000239,000 Total Stockholders' Equity $ 1 comma 284 comma 000$1,284,000 Which of the following is included in the entry to record the corporation's purchase of 40 comma 00040,000 shares of its common stock for $ 12.00$12.00 per share?
A corporation has 14.000 shares of 15% 5101.00 pat nonnulative pr ed stock outstanding and 25.000...
A corporation has 14.000 shares of 15% 5101.00 pat nonnulative pr ed stock outstanding and 25.000 shares of no-po common stock outstanding At the end of the current year, the comporion de $200.000 What is the dividend per share for preferred stock and for common stock? (Round your answer to the nearest Cont) OA The dividend per share is 515 15 te preferred stock and 50 32 to common stock O . The dividend per share is $15.15 to preferred...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
Common Stock, $1 par (2,700,000 shares authorized, 705,000 shares issued and outstanding) $705,000 Paid-in Capital in...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
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...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Common Stock, $5.00 par, 207,000 shares authorized, 172,000 shares issued Paid in Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity $860,000 205,000 229,000 $1.294,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common O A Retained Earnings is debited for $580,000 CIO B. Paid - In Capital from Treasury Stock Transactions is credited for $300,000 O C. Treasury Stock-Common is debited for $580,000 O D. Common Stock-$5.00...
A corporation has 14.000 shares of 15% 5101.00 pat nonnulative pr ed stock outstanding and 25.000 shares of no-po common stock outstanding At the end of the current year, the comporion de $200.000 What is the dividend per share for preferred stock and for common stock? (Round your answer to the nearest Cont) OA The dividend per share is 515 15 te preferred stock and 50 32 to common stock O . The dividend per share is $15.15 to preferred...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
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...
Most questions answered within 3 hours.
-
In testing a new drug, researchers found that 5% of all patients
using it will have...
asked 23 minutes ago -
List the six general types of information management systems,
and give one logistics application to each...
asked 14 minutes ago -
XYZ corporation uses statistical quality control to monitor the
quality of their product. They have determined...
asked 17 minutes ago -
If a liquid
contains 60% sugar and 40% water through out its composition then
what is...
asked 25 minutes ago -
The data in set A represents prices (with tax included) of a
large cup of regular...
asked 35 minutes ago -
How do neuropsychological assessments provide information about
impairment? How could this information be misused?
asked 27 minutes ago -
Define SNP and elaborate various type of SNPs and their
importance in pharmacogenetics?
asked 31 minutes ago -
Description
There are 4 classes, Figure is the base class，both Triangle,
Rectangle and Circle are all...
asked 32 minutes ago -
What will the standard deviation of these exam grades be? A
square bracket means inclusive, so...
asked 42 minutes ago -
Beginning Retained Earnings are $ 79 comma 000 $79,000; sales
are $ 31 comma 700 $31,700;...
asked 44 minutes ago -
Please explain/demonstrate how to use NLTK to test unigram,
bigram, and trigram character models on guessing...
asked 51 minutes ago -
what you feel is most important to you and why regarding your
typing skills?
asked 52 minutes ago