Homework Answers
SOLUTION
| date | particulars |
dr |
cr |
|
cash(2400*5) common stock-no-par value |
$12000 |
$12000 |
|
| to record issuance of shares |
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On June 1, Metlock, Inc. issues 2.400 shares of no-par common stock at a cash price...
On June 1, Larkspur, Inc. issues 2,200 shares of no-par common stock at a cash price...
On June 1, Larkspur, Inc. issues 2,200 shares of no-par common stock at a cash price of $9 per share. Journalize the issuance of the shares. (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 enter0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
On June 1, Shamrock, Inc. issues 2,600 shares of no-par common stock at a cash price...
On June 1, Shamrock, Inc. issues 2,600 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (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 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
On June 1, Tucker Inc. issues 3,000 shares of no-par common stock at a cash price...
On June 1, Tucker Inc. issues 3,000 shares of no-par common
stock at a cash price of $7 per share.
Journalize the issuance of the shares. (Credit account
titles are automatically indented when amount is entered. Do not
indent manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
On June 1, Metlock Inc issues 2400 shares of no-par common stock at a cash price...
On June 1, Metlock Inc issues 2400 shares of no-par common stock at a cash price of $ 5 per share Jourmalize the issuance of the shares (Credit account atles are automatical indented when amount is entered, De not indent mamull no entry Date Account Titles and Explanation June 1 s requid, select The Entry" for the account itles and enter Ofor the unts) Debit Credit
Metlock, Inc issues 7,800 shares of $ 103 par value preferred stock for cash at $...
Metlock, Inc issues 7,800 shares of $ 103 par value preferred stock for cash at $ 110per share. Journalize the issuance of the preferred stock (Credit account titles ore automatically Indented when amount is entered Do not indent manually.If no entry is required,select "No Entry' for the occount titles and enter O for the amounts) Account Titles and Explanation Debit Credit
Metlock Corporation has 11.00 million shares of common stock issued and outstanding. On June 1, the...
Metlock Corporation has 11.00 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 78 cents per share cash dividend to stockholders of record as of June 14, payable June 30. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
On May 10, Paige Corporation issues 2,500 shares of $5 par value common stock for cash...
On May 10, Paige Corporation
issues 2,500 shares of $5 par value common stock for cash at $13
per share.
Journalize the issuance of the stock. (Credit account titles are automatically
indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
May 10
Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares...
Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares of no-par common stock at a cash price of $5 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (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 O for the amounts.) Date Account Titles...
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash...
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. De mot indent manually. If me entry Account Titles and Explanation Debit Credit
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $117,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is (b) Prepare the journal entry for the issuance when only the market price of the common stock is $176 each and market price of the preferred is $220 each. known and it is $204 per share. (Round...
On June 1, Larkspur, Inc. issues 2,200 shares of no-par common stock at a cash price of $9 per share. Journalize the issuance of the shares. (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 enter0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
On June 1, Shamrock, Inc. issues 2,600 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (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 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
On June 1, Tucker Inc. issues 3,000 shares of no-par common
stock at a cash price of $7 per share.
Journalize the issuance of the shares. (Credit account
titles are automatically indented when amount is entered. Do not
indent manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
On June 1, Metlock Inc issues 2400 shares of no-par common stock at a cash price of $ 5 per share Jourmalize the issuance of the shares (Credit account atles are automatical indented when amount is entered, De not indent mamull no entry Date Account Titles and Explanation June 1 s requid, select The Entry" for the account itles and enter Ofor the unts) Debit Credit
Metlock, Inc issues 7,800 shares of $ 103 par value preferred stock for cash at $ 110per share. Journalize the issuance of the preferred stock (Credit account titles ore automatically Indented when amount is entered Do not indent manually.If no entry is required,select "No Entry' for the occount titles and enter O for the amounts) Account Titles and Explanation Debit Credit
Metlock Corporation has 11.00 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 78 cents per share cash dividend to stockholders of record as of June 14, payable June 30. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
On May 10, Paige Corporation
issues 2,500 shares of $5 par value common stock for cash at $13
per share.
Journalize the issuance of the stock. (Credit account titles are automatically
indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
May 10
Question 7 View Policies Current Attempt in Progress On June 1, Cullumber Company issues 2,500 shares of no-par common stock at a cash price of $5 per share. Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (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 O for the amounts.) Date Account Titles...
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. De mot indent manually. If me entry Account Titles and Explanation Debit Credit
Headland Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $117,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is (b) Prepare the journal entry for the issuance when only the market price of the common stock is $176 each and market price of the preferred is $220 each. known and it is $204 per share. (Round...
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