|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise 15-15 The following data were taken from the balance sheet accounts of Marin Corporation on...
Exercise 15-15 The following data were taken from the balance sheet accounts of Grouper Corporation on December 31, 2019. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings $492,000 610,000 462,000 163,000 828,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter...
Exercise 15-15 The following data were taken from the balance sheet accounts of Oriole Corporation on December 31, 2019. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings $512,000 577,000 471,000 154,000 890,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter...
The following data were taken from the balance sheet accounts of Waterway Corporation on De 31, 2016 $578,000 686,000 454,000 152,000 847,000 Current assets Debt investments Common stock (par value $10) Paid-in capital in excess of par Retained earnings Prepare the required journal entries for the following unrelated items. (Credit account titles a automatically indented when amount is entered. Do not indent manually. If no entry i required, select "No Entry" for the account titles and enter O for the...
The stockholders’ equity accounts of Marin Company have the following balances on December 31, 2020. Common stock, $10 par, 318,000 shares issued and outstanding $3,180,000 Paid-in capital in excess of par—common stock 1,190,000 Retained earnings 5,560,000 Shares of Marin Company stock are currently selling on the Midwest Stock Exchange at $34. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
E15.15B (L0 3) (Dividend Entries) The following data were taken from the balance sheet accounts of Symbol Two Corporation on June 30, 2019: Current assets $125,000 Investments 365,000 Common stock (par value $1) 70,000 Paid-in capital in excess of par 680,000 Retained earnings 963,000 Instructions Prepare the required journal entries for the following unrelated items: (a) The par value of the capital stock is reduced to $0.50 with a 2-for-1 stock split. (b) A 10% stock dividend is declared and...
On January 1, 2020, Whispering Winds Corp. had the following stockholders' equity accounts. a) Journalize the transactions and the closing entries for net income and dividends. (Record journal entries in the order presented in the problem. 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 the amounts.) On January 1, 2020, Whispering Winds Corp. had the following stockholders'...
CALCULATOR PRINTER VERSION BACK Exercise 15-07- The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019. Current abilities Interest payable $ 162,000 Kong-term liabilities Bonds payable, 9%, due January 1, 2024 1,800,000 Bond Interest is payable annually on January 1. The bonds are callable on any interest date. Journalize the payment of the bond Interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles...
---------------------------------------------------------------------------------------------------------------------------------------------------------- Exercise 15-7 The following section is taken from Ohlman Corp.'s balance sheet at December 31, 2016 Current liabilitles Interest payable 94,500 Long-term liabilities Bonds payable, 6%, due January 1, 2021 1,575,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date Journalize the payment of the bond interest on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit...
Problem 15-07A a-d The following is taken from the Blossom Company balance sheet. Blossom Company Balance Sheet (partial) December 31, 2020 Current Liabilities Interest payable (for 12 months from January 1 to December 31) Long-term Liabilities Bonds payable, 9% due January 1, 2028 Add: Premium on bonds payable $305,100 $3,390,000 194,000 $3,584,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Blossom uses straight-line amortization for any bond premium or discount. From December...
Exercise 15-14 The stockholders' equity accounts of Sheffield Company have the following balances on December 31, 2020. Common stock, $10 par, 312,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $3,120,000 1,160,000 5,340,000 Shares of Sheffield Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...