Homework Answers
| Cash (2,000*18) | 36,000 | |
| Common stock (2,000*5) - stated | 10,000 | |
| Paid in capital in excess of stated value | 26,000 |
Option C is the answer
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When 2,000 shares of $5 stated value common stock is issued at $18 per share, O...
Coronado, Inc. issued 10200 shares of stock at a stated value of $7 per share. The...
Coronado, Inc. issued 10200 shares of stock at a stated value of $7 per share. The total issue of stock sold for $13 per share. The journal entry to record this transaction would include a debit to Cash for $71400. credit to Common Stock for $71400. credit to Common Stock for $132600. credit to Paid-in Capital in Excess of Par for $132600.
10. If no-par stock is issued without a stated value, then a. the par value is...
10. If no-par stock is issued without a stated value, then a. the par value is automatically $1 per share. b. the entire proceeds are considered to be legal capital. c. there is no legal capital. d. the corporation is automatically in violation of its state charter. I Baylor Company issues 8,000 shares of $5 par value common stock for $280,000, a. Common Stock will be credited for $280,000. b. Paid-In Capital in Excess of Par will be credited for...
A company originally issued 14,000 shares of $10 par value common stock at $11 per share....
A company originally issued 14,000 shares of $10 par value common stock at $11 per share. The board of directors declares a 15% stock dividend when the market price of the stock is $19 a share. Which of the following is included in the entry CC record the declaration of a stock dividend? co nt. ac O A. Stock Dividends is debited for $39,900. O B. Paid-In Capital in Excess of Par Common is credited for $23,100 O C. Stock...
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...
The Company issued 20,000 shares of no-par common stock, stated value $20, at $32 cash per...
The Company issued 20,000 shares of no-par common stock, stated value $20, at $32 cash per share. The journal entry to record this transaction is Select one: a. Debit: Cash 640,000 Credit: Common Stock 400,000 Credit: Paid-in Capital in Excess of Stated Value 240,000 b. Debit: Cash 640,000 Credit: Common Stock 640,000 c. Debit: Cash 640,000 Credit: Common Stock 400,000 Credit: Paid-in Capital in Excess of Par Value 240,000
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When...
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to 1.Common Stock $20,000 and Paid-in Capital in Excess of Par $12,000. 2. Common Stock $20,000 and Retained Earnings $12,000. 3. Common Stock $32,000. 4. Common Stock $20,000 and Paid-in Capital in Excess of Stated Value $12,000.
1. BonitaCorp. issues 2800 shares of $10 par value common stock at $15 per share. When...
1. BonitaCorp. issues 2800 shares of $10 par value common stock
at $15 per share. When the transaction is recorded, credits are
made to
Common Stock $28000 and Retained Earnings $14000.
Common Stock $28000 and Paid-in Capital in Excess of Par
$14000.
2. VaughnCompany is authorized to issue 9000 shares of 7%, $100
par value preferred stock and 532000 shares of no-par common stock
with a stated value of $1 per share. If Vaughn issues 4500 shares
of preferred stock...
Jan. 10 Issued 78,000 shares of common stock for cash at $6 per share. Apr, 1...
Jan. 10 Issued 78,000 shares of common stock for cash at $6 per share. Apr, 1 1ssued shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $87,000. Sept. 1 Issued 11,500 shares of common stock for cash at $5 per share. OURCES (S19) 23 Paid-in Capital in Excess of Stated Value-Commor 498750 Paid-in Capital in 23750 87000 Paid-in Capital in E 15000 229500 Paid-in Capital in Excess of...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
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...
10. If no-par stock is issued without a stated value, then a. the par value is automatically $1 per share. b. the entire proceeds are considered to be legal capital. c. there is no legal capital. d. the corporation is automatically in violation of its state charter. I Baylor Company issues 8,000 shares of $5 par value common stock for $280,000, a. Common Stock will be credited for $280,000. b. Paid-In Capital in Excess of Par will be credited for...
A company originally issued 14,000 shares of $10 par value common stock at $11 per share. The board of directors declares a 15% stock dividend when the market price of the stock is $19 a share. Which of the following is included in the entry CC record the declaration of a stock dividend? co nt. ac O A. Stock Dividends is debited for $39,900. O B. Paid-In Capital in Excess of Par Common is credited for $23,100 O C. Stock...
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...
1. BonitaCorp. issues 2800 shares of $10 par value common stock
at $15 per share. When the transaction is recorded, credits are
made to
Common Stock $28000 and Retained Earnings $14000.
Common Stock $28000 and Paid-in Capital in Excess of Par
$14000.
2. VaughnCompany is authorized to issue 9000 shares of 7%, $100
par value preferred stock and 532000 shares of no-par common stock
with a stated value of $1 per share. If Vaughn issues 4500 shares
of preferred stock...
Jan. 10 Issued 78,000 shares of common stock for cash at $6 per share. Apr, 1 1ssued shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $87,000. Sept. 1 Issued 11,500 shares of common stock for cash at $5 per share. OURCES (S19) 23 Paid-in Capital in Excess of Stated Value-Commor 498750 Paid-in Capital in 23750 87000 Paid-in Capital in E 15000 229500 Paid-in Capital in Excess of...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
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