Homework Answers
| Journal Entries | ||||||
| Date | Particulars | Debit | Credit | |||
| 10-Jan | Cash | (6000 x $ 30) | $ 180,000.00 | |||
| To Common Stock | (6000 x $ 2) | $ 12,000.00 | ||||
| To PIC in excess of par | (6000 x $ 28) | $ 168,000.00 | ||||
| 30-Jun | Dividend | $ 20,000.00 | ||||
| To Dividend Payable | $ 20,000.00 | |||||
| 31-Jul | Dividend Payable | $ 20,000.00 | ||||
| To Cash | $ 20,000.00 | |||||
Add Answer to:
1.) Jonathan Corporation reports the following transactions for 2012: Jan 10 June 30 Issued 6,000 shares...
EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares...
EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15 per share. 1. Jun 15 Sep 30 Oct 10 Issued 2,000 common shares at $14 per share in exchange for equipment valued at $27,000 The board of directors declared a 10% common stock dividend. The market of the common shares on this date was $12 per share. The 10% common stock dividend is distributed. The board of directors declared a cash dividend...
INSTRUCTIONS: Record the following transactions for Waylon Corp. 10-Sep Issued 2,000 shares of its $2 stated...
INSTRUCTIONS: Record the following transactions for Waylon Corp. 10-Sep Issued 2,000 shares of its $2 stated value common stock for $30 per share. 10-Oct Issued 1 ,000 shares of its $2 stated value common stock for equipment advertised for sale at $38,000. Waylon's stock is actively traded on this date at a market price of $30 per share. 10-Nov Issued 3,000 shares of $10 par value preferred stock at $40 per share.for cash 1-Sep The board of directors of Granger...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per...
On January 1, Cullumber Corporation had 93.000 shares of no-par common stock ed and outstanding. The...
On January 1, Cullumber Corporation had 93.000 shares of no-par common stock ed and outstanding. The stock has a stated value of 57 per share. During the year, the following curred Apr. 1 June 15 July 10 Dec. 1 15 ssued 20.500 tona shares of common stock for 18 per share Declared a cash dividend of 52 per share to stockholders of record on June 30. Paid the 52 cash dividend. Issued 2,000 additional shares of common stock for $10...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding....
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 113,000 shares...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 113,000 shares of $10 par common stock. 9,500 shares of $150 par, 5 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 9,500 shares of preferred stock and a $3 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the total amount...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 91,000 shares of common stock for $603,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 9,000 shares of common stock for the treasury for $19 per share. Dec. 15 Declared a cash dividend...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,230,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding. The...
On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a par value of $5 per share. During the year, the following occurred. Jan. 5 Issued 25,000 additional shares of common stock for $17 per share. April 15 Declared a cash dividend of $1 per share to stockholders of record on April 30. May 10 Paid the $1 cash dividend. July 15 Declared a 10% stock dividend on 120,000 (95,000 + 25,000)...
4. A corporation was organized on January 30 of the current year, with an authorization of...
4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of preferred stock. $12 par, and 100,000 shares of $3 par common stock. REQUIRED (16 points) Prepare journal entries to record the following Jan. 30, 2021 Issued 15,000 shares of common stock at $23 per share for cash. Jan 31 Issued 1,200 shares of common stock at par to an attorney in payment of legal fees costing $6,000 for organizing the corporation....
EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15 per share. 1. Jun 15 Sep 30 Oct 10 Issued 2,000 common shares at $14 per share in exchange for equipment valued at $27,000 The board of directors declared a 10% common stock dividend. The market of the common shares on this date was $12 per share. The 10% common stock dividend is distributed. The board of directors declared a cash dividend...
On January 1, Cullumber Corporation had 93.000 shares of no-par common stock ed and outstanding. The stock has a stated value of 57 per share. During the year, the following curred Apr. 1 June 15 July 10 Dec. 1 15 ssued 20.500 tona shares of common stock for 18 per share Declared a cash dividend of 52 per share to stockholders of record on June 30. Paid the 52 cash dividend. Issued 2,000 additional shares of common stock for $10...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of preferred stock. $12 par, and 100,000 shares of $3 par common stock. REQUIRED (16 points) Prepare journal entries to record the following Jan. 30, 2021 Issued 15,000 shares of common stock at $23 per share for cash. Jan 31 Issued 1,200 shares of common stock at par to an attorney in payment of legal fees costing $6,000 for organizing the corporation....
Most questions answered within 3 hours.
-
Calculate how many grams of 30% and how many grams of
10% coal tar paste must...
asked 2 minutes from now -
All else equal and given the current system of exchange rates,
if the United States enters...
asked 7 minutes ago -
The charge on a capacitor in an ideal LC oscillator
with an angular frequency of 200...
asked 14 minutes ago -
A 5.5 MW variable-speed wind generator with 0.92 power factor is
providing power to a grid...
asked 13 minutes ago -
Two wires, each of length 1.9 m, are stretched between two fixed
supports. On wire A...
asked 17 minutes ago -
Help me solve this in C++
Rewrite the code to use array instead of linked lists....
asked 25 minutes ago -
1.)Suppose I collect data on the average price of Yuengling (a
type of beer) at every...
asked 32 minutes ago -
Test the claim that the proportion of people who own cats is
smaller than 50% at...
asked 56 minutes ago -
Question 1 Continues
*** This is the NODE ADT you need. I hope this will help...
asked 57 minutes ago -
Show the rearrangements of the carbon skeleton in the following
carbocations. Note that in some cases...
asked 3 hours ago -
Use a z -Table to find the specified area.
Between the mean and 3.01 deviations from...
asked 3 hours ago -
Consider the following reaction at equilibrium. What will happen
if O2 is added to the reaction?...
asked 4 hours ago