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Eagle Eye, Inc., a corporation, received an additional investment of $6,000 cash in exchange for shares...
A corporation issued 6,000 shares of its $2 par value common stock in exchange for land...
A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include: A credit to Land for $12,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $72,000. A debit to Common Stock for $12,000. A debit to Land for $12,000. A credit to Common Stock for $84,000.
A company received $35,000 cash and issued common stock in exchange. How does this transaction affect the accountin...
A company received $35,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation? O A. Add $35,000 to Cash and add $35,000 to Common Stock OB. Add $35,000 to Dividends and subtract $35,000 from Retained Earnings OC. Add $35,000 to Cash and add $35,000 to Retained Earnings. OD. Add $35,000 to Cash and add $35,000 to Revenue
Received Given Building Cash Cash and notes payable Common stock and additional paid-in capital (a): (b)...
Received Given Building Cash Cash and notes payable Common stock and additional paid-in capital (a): (b) (C) (d) (e) (f) (g) (h) (i) () (k) (1) (m) Dividends payable Required: 1. Select the appropriate account titles, if any, affected in each of the preceding events. Consider what is received and what is given. (In cases where no entry is required, please select the option "No exchange transaction" for your answer to grade correctly.) Received Given Equipment Intangibles Investments Land (a):...
7) Mary issues common stock in exchange for legal services received. The common stock has a...
7) Mary issues common stock in exchange for legal services received. The common stock has a fair value of $3,000 and a par value of $500. What is the journal entry required to record this transaction? 8) By what amount did this transaction affect Mary’s total shareholder equity? (ignore taxes) show calculation 9) By what amount did this transaction affect Mary’s net income for the year? (ignore taxes) show calculation 10) Delta repurchased (reacquired) 100 shares of its common stock...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,070 shares of $1 par value common stock with a market price of $20 per share. b. Purchased $9,000 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $9,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,052 of land; paid $9,000 in cash and...
Rodriguez Corporation issues 6,000 shares of its common stock for $118,400 cash on February 20. Prepare...
Rodriguez Corporation issues 6,000 shares of its common stock for $118,400 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. The stock has a $18 par value. The stock has neither par nor stated value. The stock has a $9 stated value. a. Record the issue of 6,000 shares of $18 par value common stock for $118,400 cash. b. Record the issue of 6,000 shares of no-par, no-stated value common...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,010 shares of $1 par value common stock with a market price of $5 per share. b. Purchased $8,200 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $5,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,159 of land; paid $4,000 in cash and...
On May 10. Concord Corporation Issues 2,700 shares of $6 par value common stock for cash...
On May 10. Concord Corporation Issues 2,700 shares of $6 par value common stock for cash at $15 per share. Prepare a tabular summary to record the issuance of the stock. Of a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Assets Liabilities Stockholders' Equity Paid-in-Capital PIC in Excess of Common Stock Par Value Com....
The following events occurred for Johnson Company: 0.5 points a. Received investment of cash by organizers...
The following events occurred for Johnson Company: 0.5 points a. Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $10 per share. b. Purchased $8,500 of equipment, paying $1,100 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $10,000 cash from a bank. d. Loaned $900 to an employee who signed a note. e. Purchased $17,874 of land; paid $9,000 in...
A company received $31,000 cash and issued common stock in exchange. How does this transaction affect...
A company received $31,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation?
A company received $35,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation? O A. Add $35,000 to Cash and add $35,000 to Common Stock OB. Add $35,000 to Dividends and subtract $35,000 from Retained Earnings OC. Add $35,000 to Cash and add $35,000 to Retained Earnings. OD. Add $35,000 to Cash and add $35,000 to Revenue
Received Given Building Cash Cash and notes payable Common stock and additional paid-in capital (a): (b) (C) (d) (e) (f) (g) (h) (i) () (k) (1) (m) Dividends payable Required: 1. Select the appropriate account titles, if any, affected in each of the preceding events. Consider what is received and what is given. (In cases where no entry is required, please select the option "No exchange transaction" for your answer to grade correctly.) Received Given Equipment Intangibles Investments Land (a):...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,070 shares of $1 par value common stock with a market price of $20 per share. b. Purchased $9,000 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $9,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,052 of land; paid $9,000 in cash and...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,010 shares of $1 par value common stock with a market price of $5 per share. b. Purchased $8,200 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $5,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,159 of land; paid $4,000 in cash and...
On May 10. Concord Corporation Issues 2,700 shares of $6 par value common stock for cash at $15 per share. Prepare a tabular summary to record the issuance of the stock. Of a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Assets Liabilities Stockholders' Equity Paid-in-Capital PIC in Excess of Common Stock Par Value Com....
The following events occurred for Johnson Company: 0.5 points a. Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $10 per share. b. Purchased $8,500 of equipment, paying $1,100 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $10,000 cash from a bank. d. Loaned $900 to an employee who signed a note. e. Purchased $17,874 of land; paid $9,000 in...
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