Homework Answers
Michael Inc.
| Date | Account Titles | Debit | Credit |
| Jan-10 | Cash | $ 768,000 | |
| Common Shares | $ 768,000 | ||
| Jan-15 | Equipment | $ 80,000 | |
| Preferred Shares | $ 80,000 | ||
| Feb-01 | Organization Expense | $ 2,500 | |
| Common Shares | $ 2,500 |
Vancouver Ltd
| Date | Account Titles | Debit | Credit |
| May-01 | Dividend / Retained Earnings | $ 577,500 | |
| Dividend Payable | $ 577,500 | ||
| Jun-01 | Dividend Payable | $ 577,500 | |
| Cash | $ 577,500 |
XYZ
| Non - Cumulative | Cumulative | ||||
| Year | Dividend Paid | Preferred Dividend | Common Dividend | Preferred Dividend | Common Dividend |
| 2014 | $ 10,000 | $ 10,000 | $ 10,000 | ||
| 2015 | $ 36,000 | $ 15,000 | $ 21,000 | $ 20,000 | $ 16,000 |
| 2016 | $ 60,000 | $ 15,000 | $ 45,000 | $ 15,000 | $ 45,000 |
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Michael Inc. is authorized to issue 50,000, 58, no par value, cumulative, fully participating preferred shares,...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Bird Inc. was organized and authorized to issue 5,000 shares of $100 par value, 9% preferred stock and 50,000 shares of...
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Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
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Uzi Company received a charter granting the right to issue 200,000 shares of $2 par value...
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Concord Corporation is authorized to issue 23,500 shares of $50 par value, 10% preferred stock and...
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Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following...
Major League Apparel has two classes of stock
authorized: 5%, $10 par preferred, and $1 par value common. The
following transactions affect stockholders’ equity during 2021, its
first year of operations.
Have a few following journal transactions - please show work and
explain!!
FEB 14 - Record the issuance of 53,000 shares of
preferred stock for $11 per share.
MAY 31 - Record the resell of 5,000 shares of treasury
stock for $58 per share.
DEC 1 - Record the...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and...
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gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative,...
gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative, 50.0XX) shares anthorized, 30,000 shares issued and outstanding In excess of par on preferred stock Total Paid in Capital from Preferred Stock 3,000,000 3M) CM) $ $ 3,300.00 Common Stock, no par, $25 stated value, 1.000.) shares authorized, 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid in Capital from Common Stock $ 10600...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common....
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of tock and 4,600 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,700 shares of common stock for $48 per share. May 15 Purchase 460 shares of treasury stock for $41 per share. July 10 Resell 260 shares of treasury stock purchased on May 15 for $46 per share. October...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
Major League Apparel has two classes of stock
authorized: 5%, $10 par preferred, and $1 par value common. The
following transactions affect stockholders’ equity during 2021, its
first year of operations.
Have a few following journal transactions - please show work and
explain!!
FEB 14 - Record the issuance of 53,000 shares of
preferred stock for $11 per share.
MAY 31 - Record the resell of 5,000 shares of treasury
stock for $58 per share.
DEC 1 - Record the...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
gn Layout References Mailings Review View Help Paid-in Capital 8% Preferred Stock, $100 par value, cumulative, 50.0XX) shares anthorized, 30,000 shares issued and outstanding In excess of par on preferred stock Total Paid in Capital from Preferred Stock 3,000,000 3M) CM) $ $ 3,300.00 Common Stock, no par, $25 stated value, 1.000.) shares authorized, 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid in Capital from Common Stock $ 10600...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of tock and 4,600 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,700 shares of common stock for $48 per share. May 15 Purchase 460 shares of treasury stock for $41 per share. July 10 Resell 260 shares of treasury stock purchased on May 15 for $46 per share. October...
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