Homework Answers
All of these
| Accounts Titles and Explanation | Debit | Credit | |
| Cash | $1,500 | (100 x $15) | |
| Common Stock | $100 | (100 x $1) | |
| Additional Paid-in Capital | $1,400 | (100 x $14) | |
Add Answer to:
connect Hayes Corporation 100 shares of O O O O Credit to Common Stock of 5100...
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal...
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: Multiple Choice O Debit Cash $7,000; Credit Common Stock $7,000 Debit investment in Common Stock $7,000, credit Cash $7,000. O O Debit Cash $7,000; Credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000 O O Debit Common Stock $6,000, debit Investment in Common Stock $1,000, credit Cash $7,000. O O Debit Cash...
A corporation issued 5,000 shares of its no par common stock that was assigned a $1...
A corporation issued 5,000 shares of its no par common stock that was assigned a $1 stated value per share. The issue price was $10 per share. The entry to record this transaction would be Debit Cash $50,000; credit Paid-in Capital in Excess of Stated Value, Common Stock $45,000; credit Common Stock $5,000. Debit Cash $50,000; credit Common Stock $50,000. Debit Common Stock $50,000; credit Cash $50,000. Debit Treasury Stock $50,000; credit Cash $50,000. Debit Common Stock $25,000; debit Paid-in...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per share. (Round...
Exercise 15-05 Ayayai Inc. issues 500 shares of $10 par value common stock and 100 shares...
Exercise 15-05 Ayayai Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $115,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $200 per...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $212 per share. (Round answers...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry to record this transaction is debit Common Stock $50,000; debit Paid-in Capital in Excess of Par-Common $20,000; credit Cash $70,000. debit Cash $70,000; credit Common Stock $50,000; credit Paid-in Capital in Excess of Par-Common $20,000. debit Cash $70,000; credit Common Stock $70,000. debit Common Stock $70,000; credit Cash $70,000. Question 23 (2 points) Saved
Current Attempt in Progress Pearl Corporation issued 385 shares of $10 par value common stock and...
Current Attempt in Progress Pearl Corporation issued 385 shares of $10 par value common stock and 127 shares of $50 par value preferred stock for a lump sum of $18,360. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, eg. 0.546872 and final answers to O decimal places, ed., 1,520. Credit...
The shares of preferred stock issued by Saturn Corporation can be exchanged for common stock. However,...
The shares of preferred stock issued by Saturn Corporation can be exchanged for common stock. However, any dividends in arrears are lost. Which of the following features are present in the preferred stock issued by Saturn? Select all answers that apply to this question. Convertible Redeemable Cumulative Noncumulative EyeCare Corporation issued 10,000 shares of 7%, $100 par value preferred stock at the beginning of Year 1. The company did not pay dividends in Year 1. However, preferred stockholders received dividends...
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...
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...
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: Multiple Choice O Debit Cash $7,000; Credit Common Stock $7,000 Debit investment in Common Stock $7,000, credit Cash $7,000. O O Debit Cash $7,000; Credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000 O O Debit Common Stock $6,000, debit Investment in Common Stock $1,000, credit Cash $7,000. O O Debit Cash...
Kingbird Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per share. (Round...
Exercise 15-05 Ayayai Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $115,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $200 per...
Blue Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $212 per share. (Round answers...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry to record this transaction is debit Common Stock $50,000; debit Paid-in Capital in Excess of Par-Common $20,000; credit Cash $70,000. debit Cash $70,000; credit Common Stock $50,000; credit Paid-in Capital in Excess of Par-Common $20,000. debit Cash $70,000; credit Common Stock $70,000. debit Common Stock $70,000; credit Cash $70,000. Question 23 (2 points) Saved
Current Attempt in Progress Pearl Corporation issued 385 shares of $10 par value common stock and 127 shares of $50 par value preferred stock for a lump sum of $18,360. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, eg. 0.546872 and final answers to O decimal places, ed., 1,520. Credit...
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...
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...
Most questions answered within 3 hours.
-
Which of the following statements explains why the cost of
advertising might be relevant to a...
asked 1 minute ago -
NO3- nitrate ion, what is the symmetry operationof rotation of
it?
asked 5 minutes ago -
Block A, with mass mA, is initially at rest on a frictionless
horizontal floor. Block B,...
asked 7 minutes ago -
Space shuttle astronauts each consume an average of 3000
calories per day. One meal normally consists...
asked 8 minutes ago -
A distribution center for a sporting goods retailer places
orders with manufacturers for a variety of...
asked 24 minutes ago -
Suppose you have a bag of Skittles with 27 blue Skittles, 18
green
Skittles, 32 red...
asked 26 minutes ago -
Sketch the circuit diagram for an inverting amplifier, and give
component values that will produce a...
asked 29 minutes ago -
Develop in C language the function whose prototype is described
below. Please, send the entire code,...
asked 47 minutes ago -
What single payment today would replace a payment stream of
$50,000 that will be paid today,...
asked 41 minutes ago -
please c++ with functions *Modify the Guessing Game Write the
secret number to a file. Then...
asked 41 minutes ago -
Question about ACID/BASE. Equal volumes of 0.230 M weak base (Kb
= 4.0× 10–9) and 0.230...
asked 46 minutes ago -
The charges and coordinates of two charged particles held fixed
in an xy plane are q1...
asked 48 minutes ago