Journal entries date Particulars Debit Credit 02-Jan Cash (110000*67) 7370000 common stock (110000*1) 110000 additional paid...
| Journal entries | |||||
| date | Particulars | Debit | Credit | ||
| 02-Jan | Cash (110000*67) | 7370000 | |||
| common stock (110000*1) | 110000 | ||||
| additional paid in capital | 7260000 | ||||
| 14-Feb | Cash (57000*12) | 684000 | |||
| preferred stock (57000*10) | 570000 | ||||
| additional paid in capital | 114000 | ||||
| 08-May | treasury stock (11000*57) | 627000 | |||
| cash | 627000 | ||||
| 31-May | Cash (5500*62) | 341000 | |||
| treasury stock (5500*57) | 313500 | ||||
| additional paid in capital | 27500 | ||||
| 01-Dec | dividend (110000-11000+5500)*0.40+34200 | 76000 | |||
| dividend payable | 76000 | ||||
| 15-Dec | no entry | ||||
| 30-Dec | dividend payable | 76000 | |||
| cash | 76000 | ||||
Prepare the stockholders’ equity section of the balance sheet as of December 31, 2021. Net income for the year was $487,000
Prepare the stockholders’ equity section of the balance sheet as of December 31, 2021. Net income for the year was $487,000
Homework Answers
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Journal entries
date
Particulars
Debit
Credit
02-Jan
Cash (110000*67)
7370000
common stock (110000*1)
110000
additional paid...
Record These Journal Entries: 1) Record the issuance of 1.10 million shares of common stock for...
Record These Journal Entries:
1) Record the issuance of 1.10 million shares of common stock
for $31 per share.
2) Record the issuance of 560,000 shares of preferred stock for
$22 per share.
3) Record the purchase of 110,000 shares of its own common stock
for $26 per share.
4) Record the resell 82,500 shares of treasury stock for $41 per
share.
5) Record the declaration of a cash dividend on its common stock
of $1.10 per share and a...
Common Stock Jan. 1 Bal. 3,400,000 Apr. 10 Aug. 15 Dec. 31 Bal. Paid-In Capital in...
Common Stock
Jan. 1 Bal.
3,400,000
Apr. 10
Aug. 15
Dec. 31 Bal.
Paid-In Capital in Excess of Stated Value-Common
Stock
Jan. 1 Bal.
650,000
Apr. 10
July 5
Dec. 31 Bal.
Retained Earnings
Dec. 31
Jan. 1 Bal.
7,720,000
Dec. 31
Dec. 31 Bal.
Treasury Stock
Jan. 1 Bal.
476,000
June 6
Nov. 23
Dec. 31 Bal.
Paid-In Capital from Sale of Treasury Stock
June 6
Stock Dividends Distributable
Aug. 15
July 5
Stock Dividends
July 5
Dec. 31...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 4,000 shares of common stock have been issued.
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021:March1Issue 1,100 shares of common stock for $42 per share.May15Purchase 400 shares of treasury stock for $35 per share.July10Resell 200 shares of treasury stock purchased on May 15 for $40 per share.October15Issue 200 shares of preferred stock...
Apr. Cash | Common Stock 177000 Paid-in Capital in Excess of Par-Preferred Stock 383500 June 15...
Apr. Cash | Common Stock 177000 Paid-in Capital in Excess of Par-Preferred Stock 383500 June 15 Cash Dividends 127000 Dividends Payable 127000 TJuly 10 Dividends Payable 127000 T Cash 127000 Dec. Cash 18000 Common Stock 6000 Paid-in Capital in Excess of Par-Preferred Stock 12000 Dec. 15 I Cash Dividends | Dividends Payable 627200 On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the...
forever young has two classes of stock authorized: 100$ par preferred and 1$ par common. Problem...
forever young has two classes of stock authorized: 100$ par
preferred and 1$ par common.
Problem #1 Forever Young has two classes of stock authorized: $100 par preferred and $1 par common. As of the beginning of the year, 5,000 shares of common stock and no preferred shares have been issued. The following transactions affect stockholders' equity during the year Issue 1,000 additional shares of common stock for $30 per share. Issue 1,000 shares of preferred stock for $105 per...
journal entries for the following: Jan. 1) Issued common stock in exchange for $10,000 cash. Jan....
journal entries for the following: Jan. 1) Issued common stock in exchange for $10,000 cash. Jan. 31) Rent payment of $2,250 for January 2021, which was paid on December 1, 2020, expires Feb. 15) Purchased inventory on account for $30,000 (the perpetual inventory system is used). Mar. 1) Lent a supplier $44,000 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. Apr. 1) Paid an insurance company $4,000 for a one-year...
Common Stock, $1 par (2,700,000 shares authorized, 705,000 shares issued and outstanding) $705,000 Paid-in Capital in...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
please help!! i forgot to add this too nent Credit Debit Account Titles and Explanation Date 124000 Jan. 1...
please help!!
i forgot to add this too
nent Credit Debit Account Titles and Explanation Date 124000 Jan. 1 Cash 24000 Common Stock 100000 Paid-in Capital in Excess of Stated Value-Commor 33400 Apr. 14 Cash 22000 Common Stock 11400 Paid-in Capital from Treasury Stock 34000 Sept. 3 Patents 4900 Common Stock Paid-in Capital in Excess of Stated Value-Commor 29100 Nov. 10# 6100 Treasury Stock 6100 Cash Dec. 31 # Income Summary 43500 Retained Earnings 43500 Preferred Stock Balance Credit Debit...
Date Debit Credit Account Titles and Explanation cash Jan. Jan. 10 489000 Common Stock T 244500...
Date Debit Credit Account Titles and Explanation cash Jan. Jan. 10 489000 Common Stock T 244500 Paid-in Capital in Excess of Stated Value-Common 244500 Mar. Cash 462000T Preferred Stock 440000 LU T 22000 Paid-in Capital in Excess of Par-Preferred Stock Land Apr. 1 89000|| | Common Stock Paid-in Capital in Excess of Stated Value-Common 21500 Tcash 340000T FOTOMOTIINTINDIHTUIN HORROMENHENHALANGALOHN Common Stock 240000 Paid-in Capital in Excess of Stated Value-Common T 100000 Aug. 11 Organization Expense 395001 Common Stock 34500 Paid-in...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5 par common stock issued and...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
$6,775,000
Additional Paid-in Capital
1,785,000
Retained Earnings
1,185,000
On January 10, issued at $108 per
share 120,000 shares of $103 par value, 7% cumulative preferred
stock.
On February 8, reacquired 17,200
shares of its common stock...
Record These Journal Entries:
1) Record the issuance of 1.10 million shares of common stock
for $31 per share.
2) Record the issuance of 560,000 shares of preferred stock for
$22 per share.
3) Record the purchase of 110,000 shares of its own common stock
for $26 per share.
4) Record the resell 82,500 shares of treasury stock for $41 per
share.
5) Record the declaration of a cash dividend on its common stock
of $1.10 per share and a...
Common Stock
Jan. 1 Bal.
3,400,000
Apr. 10
Aug. 15
Dec. 31 Bal.
Paid-In Capital in Excess of Stated Value-Common
Stock
Jan. 1 Bal.
650,000
Apr. 10
July 5
Dec. 31 Bal.
Retained Earnings
Dec. 31
Jan. 1 Bal.
7,720,000
Dec. 31
Dec. 31 Bal.
Treasury Stock
Jan. 1 Bal.
476,000
June 6
Nov. 23
Dec. 31 Bal.
Paid-In Capital from Sale of Treasury Stock
June 6
Stock Dividends Distributable
Aug. 15
July 5
Stock Dividends
July 5
Dec. 31...
Apr. Cash | Common Stock 177000 Paid-in Capital in Excess of Par-Preferred Stock 383500 June 15 Cash Dividends 127000 Dividends Payable 127000 TJuly 10 Dividends Payable 127000 T Cash 127000 Dec. Cash 18000 Common Stock 6000 Paid-in Capital in Excess of Par-Preferred Stock 12000 Dec. 15 I Cash Dividends | Dividends Payable 627200 On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the...
forever young has two classes of stock authorized: 100$ par
preferred and 1$ par common.
Problem #1 Forever Young has two classes of stock authorized: $100 par preferred and $1 par common. As of the beginning of the year, 5,000 shares of common stock and no preferred shares have been issued. The following transactions affect stockholders' equity during the year Issue 1,000 additional shares of common stock for $30 per share. Issue 1,000 shares of preferred stock for $105 per...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
please help!!
i forgot to add this too
nent Credit Debit Account Titles and Explanation Date 124000 Jan. 1 Cash 24000 Common Stock 100000 Paid-in Capital in Excess of Stated Value-Commor 33400 Apr. 14 Cash 22000 Common Stock 11400 Paid-in Capital from Treasury Stock 34000 Sept. 3 Patents 4900 Common Stock Paid-in Capital in Excess of Stated Value-Commor 29100 Nov. 10# 6100 Treasury Stock 6100 Cash Dec. 31 # Income Summary 43500 Retained Earnings 43500 Preferred Stock Balance Credit Debit...
Date Debit Credit Account Titles and Explanation cash Jan. Jan. 10 489000 Common Stock T 244500 Paid-in Capital in Excess of Stated Value-Common 244500 Mar. Cash 462000T Preferred Stock 440000 LU T 22000 Paid-in Capital in Excess of Par-Preferred Stock Land Apr. 1 89000|| | Common Stock Paid-in Capital in Excess of Stated Value-Common 21500 Tcash 340000T FOTOMOTIINTINDIHTUIN HORROMENHENHALANGALOHN Common Stock 240000 Paid-in Capital in Excess of Stated Value-Common T 100000 Aug. 11 Organization Expense 395001 Common Stock 34500 Paid-in...
On December 31, 2021, Oriole Company had 1,355,000 shares of $5
par common stock issued and outstanding. At December 31, 2021,
stockholders’ equity had the amounts listed here. Transactions
during 2022 and other information related to stockholders’ equity
accounts were as follows.
Common Stock
$6,775,000
Additional Paid-in Capital
1,785,000
Retained Earnings
1,185,000
On January 10, issued at $108 per
share 120,000 shares of $103 par value, 7% cumulative preferred
stock.
On February 8, reacquired 17,200
shares of its common stock...
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