Homework Answers
Journal entries
| No | account and explanation | debit | credit |
| a | Cash | 56500 | |
| Common Stock (4050*7) | 28350 | ||
| Paid in capital in excess of par value-Common Stock | 28150 | ||
| (To record issue common stock) | |||
| b | cash | 56500 | |
| Common Stock | 28350 | ||
| Paid in capital in excess of stated value-Common Stock | 28150 | ||
| (To record issue common Stock) | |||
| c | Cash | 56500 | |
| Common Stock | 56500 | ||
| (To record common Stock) | |||
| d | Organisation fees | 56500 | |
| Common Stock | 28350 | ||
| Paid in capital in excess of par value-Common Stock | 28150 | ||
| (To record common Stock) | |||
| e | Land | 56500 | |
| Common Stock | 28350 | ||
| Paid in capital in excess of par value-Common Stock | 28150 | ||
| (To record common Stock) | |||
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sage Corporation issued 4,050 shares of stock under the folowing assumptions. (Credit account titles are automatically...
Lorporation issued 3,500 shares of stock. Prepare the entry for the issuance under the following assumptions....
Lorporation issued 3,500 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.g. 5,650.) (a) The stock had a par value of $10 per share and was issued for a total of $53,500. (b) The stock had a stated value of $10 per share and was issued for a total of $53,500. (e) The stock had no...
Concord Corporation issued 4,250 shares of stock. Prepare the entry for the issuance under the following...
Concord Corporation issued 4,250 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.) (a) The stock had a par value of $7 per share and was issued for a total of $51,000. (b) The stock had a stated value of $7 per share and was issued for a total of $51,000. (c) The stock...
Exercise 11-4 Osage Corporation issued 2,500 shares of stock. Prepare the entry for the issuance under the following as...
Exercise 11-4
Osage Corporation issued 2,500 shares of stock.
Prepare the entry for the issuance under the following assumptions.
(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 0 for the
amounts.)
(a)
The stock had a par value of $7 per share and was issued for a
total of $46,500.
(b)
The stock had a stated value of $7 per...
OURCES Concord Corporation issued 3,500 shares of stock Prepare the entry for the issuance under the...
OURCES Concord Corporation issued 3,500 shares of stock Prepare the entry for the issuance under the following assumptions (Credit account titles are automaticalily Indented when amount is entered. Do not indeat manually. Round anwers t 0 decimal places, eg·5,6S.) 13-04 13-06 13-08 (a) The stock had a par value of $10 per share and was issued for a total of $53,500 (b) The stock had a stated value of $10 per share and was issued for a total of $53,500...
Cullumber Company issued 1,000 shares of common stock. Prepare the entry for the issuance under the...
Cullumber Company issued 1,000 shares of common stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is enter o decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) (a) The stock had a par value of $4.00 per share and was issued for a total of $45,000. (b) The stock had a stated value of $4.00 per share...
gnment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN Blue Spruce Corp. issued 2,550 shares of stock. Prepare...
gnment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN Blue Spruce Corp. issued 2,550 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amou. manually. Round answers to o decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account titles ar (a) The stock had a par value of $9.00 per share and was issued for a total of $48,500. (b) The stock had a stated...
E11.4 (LO 2) Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the...
E11.4 (LO 2) Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. a. The stock had a par value of $5 per share and was issued for a total of $52,000. b. The stock had a stated value of $5 per share and was issued for a total of $52,000. c. The stock had no par or stated value and was issued for a total of $52,000. d. The stock had...
Record entries for the disposal under the following assumptions. (Credit account titles are automatically indented when...
Record entries for the disposal under the following assumptions. (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.) (a) It was scrapped as having no value. (b) It was sold for $37,600. (c) It was sold for $18,900. No. Account Titles and Explanation Debit Credit (a)
Exercise 15-9 Sage Corporation has 10,500 shares of $100 par value, 8%, preferred stock and 48,100 shares of $10 par va...
Exercise 15-9 Sage Corporation has 10,500 shares of $100 par value, 8%, preferred stock and 48,100 shares of $10 par value common stock outstanding at December 31, 2017. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2014, what are the dividends in arrears at December 31, 2017? Amount of dividends in arrears How should these dividends be reported? The...
Bramble Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (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...
Lorporation issued 3,500 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.g. 5,650.) (a) The stock had a par value of $10 per share and was issued for a total of $53,500. (b) The stock had a stated value of $10 per share and was issued for a total of $53,500. (e) The stock had no...
Exercise 11-4
Osage Corporation issued 2,500 shares of stock.
Prepare the entry for the issuance under the following assumptions.
(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 0 for the
amounts.)
(a)
The stock had a par value of $7 per share and was issued for a
total of $46,500.
(b)
The stock had a stated value of $7 per...
OURCES Concord Corporation issued 3,500 shares of stock Prepare the entry for the issuance under the following assumptions (Credit account titles are automaticalily Indented when amount is entered. Do not indeat manually. Round anwers t 0 decimal places, eg·5,6S.) 13-04 13-06 13-08 (a) The stock had a par value of $10 per share and was issued for a total of $53,500 (b) The stock had a stated value of $10 per share and was issued for a total of $53,500...
Cullumber Company issued 1,000 shares of common stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is enter o decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) (a) The stock had a par value of $4.00 per share and was issued for a total of $45,000. (b) The stock had a stated value of $4.00 per share...
gnment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN Blue Spruce Corp. issued 2,550 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amou. manually. Round answers to o decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account titles ar (a) The stock had a par value of $9.00 per share and was issued for a total of $48,500. (b) The stock had a stated...
E11.4 (LO 2) Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. a. The stock had a par value of $5 per share and was issued for a total of $52,000. b. The stock had a stated value of $5 per share and was issued for a total of $52,000. c. The stock had no par or stated value and was issued for a total of $52,000. d. The stock had...
Record entries for the disposal under the following assumptions. (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.) (a) It was scrapped as having no value. (b) It was sold for $37,600. (c) It was sold for $18,900. No. Account Titles and Explanation Debit Credit (a)
Exercise 15-9 Sage Corporation has 10,500 shares of $100 par value, 8%, preferred stock and 48,100 shares of $10 par value common stock outstanding at December 31, 2017. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2014, what are the dividends in arrears at December 31, 2017? Amount of dividends in arrears How should these dividends be reported? The...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (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...
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