Homework Answers
Answer 22: Credit Additional Paid in Capital $5200
Entry would be:
Cash A/c Dr. $6000 (400 shares X $15 each)
To Common Stock $800 (400 shares X $2 par value each share)
To Additional Paid in Capital $5200 (cash received - common stock credited)
Answer 25: Par Value of the shares issued.
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Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par...
On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for...
On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for $25 each. 1000 shar On December 20, Coley Corp. resold 600 shares for $12 each. Which of the following is correct regarding the journal entry for the resold shares? Coley Corp. resa Multiple Choice Credit Treasury Stock $7,200 Credit Additional Paid-in Capital $4,800 O Credit Treasury Stock $15,000
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for...
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each On December 20, Coley Corp. resold 400 shares for $30 each. Which of the following is correct regarding the effect of the reselling of shares on the accounting equation? Multiple Choice o Assets decrease o Liabilities decrease o Expenses increase o Stockholders' Equity increases
TheNichols Corp. had the following treasury stock transactions. 1-Sep The company purchased 1,000 shares of its...
TheNichols Corp. had the following treasury stock transactions. 1-Sep The company purchased 1,000 shares of its common stock for $40 per share for the treasury. 1-Oct 400 of the treasury shares were sold for $42 per share. 1-Nov 300 treasury shares were sold at $35 per share. Prepare the necessary journal entries for the above transactions. The following accounts appear in the ledger of Holiday Company at December 31, 2019. Common Stock, $1 stated value, 100,000 shares authorized, 30,000 shares...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capit...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock,...
Novak Corp. has these accounts at December 31: Common Stock, $12 par, 5,500 shares issued, $66,000;...
Novak Corp. has these accounts at December 31: Common Stock, $12 par, 5,500 shares issued, $66,000; Paid-in Capital in Excess of Par Value $19,000; Retained Earnings $44,000; and Treasury Stock, 500 shares, $11,000. Prepare the stockholders' equity section of the balance sheet. Novak Corp. Balance Sheet (Partial) December 31
Ayayai Corp. has these accounts at December 31: Common Stock, $10 par, 4,500 shares issued, $45,000;...
Ayayai Corp. has these accounts at December 31: Common Stock,
$10 par, 4,500 shares issued, $45,000; Paid-in Capital in Excess of
Par Value $18,000; Retained Earnings $43,000; and Treasury Stock,
400 shares, $8,800.
Prepare the stockholders’ equity section of the balance
sheet.
Ayayai Corp. Balance Sheet (Partial) December 31
2. (15 pts) Erie Company has 300,000 shares of authorized and issued common stock, $2 par....
2. (15 pts) Erie Company has 300,000 shares of authorized and issued common stock, $2 par. Additional paid in capital for these shares amounts to $3,000,000. Record the following events: Dr. Mar 1, Purchased 15,000 shares of stock as treasury stock at $8 per share. Apr 1, Resold 1,000 shares of treasury stock into the market at $12 per share. May 1, Issued 5,000 treasury shares to employees at $7 per share, as part of an ESOP. That is, there...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued,...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share....
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are made to a.Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000 b.Common Stock, $15,000, and Paid-In Capital in Excess of Par—Common Stock, $7,000 c.Common Stock, $22,000 2. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:...
the par value of shares issued is normally recorded in t The par value of shares issued is normally recorded in th...
the par value of shares issued is normally recorded in t
The par value of shares issued is normally recorded in the Multiple Choice Additional Paid-in Capital account C) Common Stock account. ) Retained Earnings account. O Treasury Stock account. < Prey 8 of 30 !!! Next > GES A noncash asset that is distributed to stockholders is referred to as a: Multiple Choice O Treasury dividend. Property dividend. Preferred dividend. Real dividend < Prev 70 30 | Next >
On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for $25 each. 1000 shar On December 20, Coley Corp. resold 600 shares for $12 each. Which of the following is correct regarding the journal entry for the resold shares? Coley Corp. resa Multiple Choice Credit Treasury Stock $7,200 Credit Additional Paid-in Capital $4,800 O Credit Treasury Stock $15,000
On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each On December 20, Coley Corp. resold 400 shares for $30 each. Which of the following is correct regarding the effect of the reselling of shares on the accounting equation? Multiple Choice o Assets decrease o Liabilities decrease o Expenses increase o Stockholders' Equity increases
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock,...
Novak Corp. has these accounts at December 31: Common Stock, $12 par, 5,500 shares issued, $66,000; Paid-in Capital in Excess of Par Value $19,000; Retained Earnings $44,000; and Treasury Stock, 500 shares, $11,000. Prepare the stockholders' equity section of the balance sheet. Novak Corp. Balance Sheet (Partial) December 31
Ayayai Corp. has these accounts at December 31: Common Stock,
$10 par, 4,500 shares issued, $45,000; Paid-in Capital in Excess of
Par Value $18,000; Retained Earnings $43,000; and Treasury Stock,
400 shares, $8,800.
Prepare the stockholders’ equity section of the balance
sheet.
Ayayai Corp. Balance Sheet (Partial) December 31
2. (15 pts) Erie Company has 300,000 shares of authorized and issued common stock, $2 par. Additional paid in capital for these shares amounts to $3,000,000. Record the following events: Dr. Mar 1, Purchased 15,000 shares of stock as treasury stock at $8 per share. Apr 1, Resold 1,000 shares of treasury stock into the market at $12 per share. May 1, Issued 5,000 treasury shares to employees at $7 per share, as part of an ESOP. That is, there...
Pina Colada Corp. has these accounts at December 31: Common Stock, $10 par, 5,600 shares issued, $56,000; Paid-in Capital in Excess of Par Value $19,100; Retained Earnings $44,100; and Treasury Stock, 510 shares, $11,220 Prepare the stockholders' equity section of the balance sheet. Pina Colada Corp. Balance Sheet (Partial)
the par value of shares issued is normally recorded in t
The par value of shares issued is normally recorded in the Multiple Choice Additional Paid-in Capital account C) Common Stock account. ) Retained Earnings account. O Treasury Stock account. < Prey 8 of 30 !!! Next > GES A noncash asset that is distributed to stockholders is referred to as a: Multiple Choice O Treasury dividend. Property dividend. Preferred dividend. Real dividend < Prev 70 30 | Next >
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