Homework Answers
| Date | Account | Debit | Credit |
| Sep 1 | Cash (1,000*10) | 10,000 | |
| Common stock - 10 stated value | 10,000 | ||
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journal entry
Required information When stock is issued, its par or stated value is credited to...
journal entry Required information When stock is issued, its par or stated value is credited to...
journal entry
Required information When stock is issued, its par or stated value is credited to the stock account and any excess is credited to a separate contributed capital account. If a stock has neither par nor stated value, the entire proceeds are credited to the stock account On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the...
journal entry Required information When stock is issued, its par or stated value is credited to...
journal entry
Required information When stock is issued, its par or stated value is credited to the stock account and any excess is credited to a separate contributed capital account. If a stock has neither par nor stated value, the entire proceeds are credited to the stock account. On January 15, Pinkney, Inc., issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and...
On Sept. Paddington Inc, issued 1.000 shares of $10 stated value common stock for cash of...
On
Sept. Paddington Inc, issued 1.000 shares of $10 stated value
common stock for cash of $10 per share Complete the necessary
journal entry by selecting the account names from the drop down
menus and entering the dollar amounts in the debitor credit columns
-43/16 14916 +20 634 77376 No-par stock is issued or not assigned a stato entire proceeds credited to a no-par stock ac Knowledge Check 01 On Sept. 1, Paddington, Inc., issued 1,000 shares of $10 stated...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Jourmal Debit...
journal entry Required information Preferred stock has a priority (or senior status) relative to common stock...
journal entry
Required information Preferred stock has a priority (or senior status) relative to common stock in (1) dividends and (2) assets in case of liquidation. Preferred stock usually excludes voting rights. Preferred stockholders usually hold the right to dividend distributions before common stockholders. When preferred stock is cumulative and in arrears, the amount in arrears must be distributed to preferred stockholders before any dividends are distributed to common stockholders. Knowledge Check UI On July 1, Hanson Corporation issued 10...
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...
On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated...
On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated value) for cash at $51 a share. Prepare a journal entry to record the issuance of the stock. Journal entry worksheet Record the issuance of 50,000 shares of no-par common stock at $51 per share (stated value, $50/share). Note: Enter debits before credits. Date General Journal Debit Credit Jan 02, 2019
Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for...
Record the issue of 2,000 shares of no-par common stock to its
promoters in exchange for their efforts, estimated to be worth
$44,000. The stock has $2 per share stated value.
Record the issue of 2,000 shares of no-par common stock to its
promoters in exchange for their efforts, estimated to be worth
$44,000. The stock has no stated value.
Record the issue of 1,000 shares of $100 par value preferred
stock for $144,000 cash.
Prepare journal entries to record...
Journal entry worksheet Rock On January 2, Carlton, Inc., issued 100 shares of $10 par value...
Journal entry worksheet Rock On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2
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
journal entry
Required information When stock is issued, its par or stated value is credited to the stock account and any excess is credited to a separate contributed capital account. If a stock has neither par nor stated value, the entire proceeds are credited to the stock account On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the...
journal entry
Required information When stock is issued, its par or stated value is credited to the stock account and any excess is credited to a separate contributed capital account. If a stock has neither par nor stated value, the entire proceeds are credited to the stock account. On January 15, Pinkney, Inc., issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years ago, the stockholder purchased the land for $40,000 and...
On
Sept. Paddington Inc, issued 1.000 shares of $10 stated value
common stock for cash of $10 per share Complete the necessary
journal entry by selecting the account names from the drop down
menus and entering the dollar amounts in the debitor credit columns
-43/16 14916 +20 634 77376 No-par stock is issued or not assigned a stato entire proceeds credited to a no-par stock ac Knowledge Check 01 On Sept. 1, Paddington, Inc., issued 1,000 shares of $10 stated...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Jourmal Debit...
journal entry
Required information Preferred stock has a priority (or senior status) relative to common stock in (1) dividends and (2) assets in case of liquidation. Preferred stock usually excludes voting rights. Preferred stockholders usually hold the right to dividend distributions before common stockholders. When preferred stock is cumulative and in arrears, the amount in arrears must be distributed to preferred stockholders before any dividends are distributed to common stockholders. Knowledge Check UI On July 1, Hanson Corporation issued 10...
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...
Record the issue of 2,000 shares of no-par common stock to its
promoters in exchange for their efforts, estimated to be worth
$44,000. The stock has $2 per share stated value.
Record the issue of 2,000 shares of no-par common stock to its
promoters in exchange for their efforts, estimated to be worth
$44,000. The stock has no stated value.
Record the issue of 1,000 shares of $100 par value preferred
stock for $144,000 cash.
Prepare journal entries to record...
Journal entry worksheet Rock On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2
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