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Suppose Home Decor Imports issued 500,000 shares of $0.07 par common stock at $5 per share....
Suppose Quality Home Imports issued 300,000 shares of $0.02 par common stock at $4 per share....
Suppose Quality Home Imports issued 300,000 shares of $0.02 par common stock at $4 per share. Which journal entry correctly records the issuance of this stock? Date Accounts and Explanation Debit Credit O A. Common Stock—$0.02 Par Value 1,200,000 Cash 6,000 1,194,000 Paid-In Capital in Excess of Par-Common | 1,200,000 Cash Common Stock—$0.02 Par Value Paid-In Capital in Excess of Par-Common 6,000 1,194,000 OC. Common Stock—$0.02 Par Value 1,200,000 Cash 1,200,000 D. 1,200,000 Cash Common Stock—$0.02 Par Value 1,200,000
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000...
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the...
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $13,090 and Paid-In Capital in Excess of Stated Value, $5,950. b. Common Stock, $5,950 and Retained Earnings, $13,090. c. Common Stock, $19,040. Od. Common Stock, $5,950 and Paid-In Capital in Excess of Par-Common Stock, $13,090. Kansas Company acquired a building valued at $163,000 for property tax purposes in exchange for 12,000 shares of its...
When 600 shares of $1 par value Common Stock are issued at $26 per share. Paid-in...
When 600 shares of $1 par value Common Stock are issued at $26 per share. Paid-in Capital in Excess of Par-Common will: OA, decrease $15,000. OB, increase S600. O C. increase $15,000. o D. stay the same. Click to select your answer. 0 Type here to search
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
Community Growers Group issued 17,000 shares of $1 par common stock for cash of $50 per...
Community Growers Group issued 17,000 shares of $1 par common stock for cash of $50 per share. Which ONE of the following should be included in the journal entry necessary to record the issuance of these shares? CREDIT Common Stock at Par for $850,000 CREDIT Paid-in Capital in Excess of Par for $17,000 CREDIT Cash for $850,000 CREDIT Common Stock at Par for $17,000 CREDIT Paid-in Capital in Excess of Par for $850,000
Pates Corp. issued 11,000 shares of no-par common stock for $14 per share. Read the requirements...
Pates Corp. issued 11,000 shares of no-par common stock for $14 per share. Read the requirements Requirement 1a. Record issuance of the stock if the stock is true no-par stock. (Record debits first, then credits Select the explanation on the last line of the journal entry table Date Accounts and Explanation Debit ecounts and Ex Requirements 1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $4 per share. 2. Which...
Decor and More imports recently reported the following stockholders' equity Click the icon to view the...
Decor and More imports recently reported the following stockholders' equity Click the icon to view the data) Suppose Decor and More split is common stock 2-for-1 in order to decrease the market prion per share of its stock. The company's stock was trading of 317 per share immediately before the spilt Read the requirements Requirement 1. Prepare the stockholders' equily section of the Decor and More Imports balance sheet after the stock uplt. Select the labels and then enter the...
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:...
When 2,000 shares of $5 stated value common stock is issued at $18 per share, O...
When 2,000 shares of $5 stated value common stock is issued at $18 per share, O A. the accounting is exactly the same as the accounting for par value stock O B. Common Stock — $5 Stated is credited for $36,000 O c. the difference between the issue price and the stated value is credited to Paid – In Capital in Excess of Stated - Common OD. the account titled Paid - In Capital in Excess of Stated - Common...
Suppose Quality Home Imports issued 300,000 shares of $0.02 par common stock at $4 per share. Which journal entry correctly records the issuance of this stock? Date Accounts and Explanation Debit Credit O A. Common Stock—$0.02 Par Value 1,200,000 Cash 6,000 1,194,000 Paid-In Capital in Excess of Par-Common | 1,200,000 Cash Common Stock—$0.02 Par Value Paid-In Capital in Excess of Par-Common 6,000 1,194,000 OC. Common Stock—$0.02 Par Value 1,200,000 Cash 1,200,000 D. 1,200,000 Cash Common Stock—$0.02 Par Value 1,200,000
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Alma Corp. issues 1,190 shares of $5 par common stock at $16 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $13,090 and Paid-In Capital in Excess of Stated Value, $5,950. b. Common Stock, $5,950 and Retained Earnings, $13,090. c. Common Stock, $19,040. Od. Common Stock, $5,950 and Paid-In Capital in Excess of Par-Common Stock, $13,090. Kansas Company acquired a building valued at $163,000 for property tax purposes in exchange for 12,000 shares of its...
When 600 shares of $1 par value Common Stock are issued at $26 per share. Paid-in Capital in Excess of Par-Common will: OA, decrease $15,000. OB, increase S600. O C. increase $15,000. o D. stay the same. Click to select your answer. 0 Type here to search
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
Pates Corp. issued 11,000 shares of no-par common stock for $14 per share. Read the requirements Requirement 1a. Record issuance of the stock if the stock is true no-par stock. (Record debits first, then credits Select the explanation on the last line of the journal entry table Date Accounts and Explanation Debit ecounts and Ex Requirements 1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $4 per share. 2. Which...
Decor and More imports recently reported the following stockholders' equity Click the icon to view the data) Suppose Decor and More split is common stock 2-for-1 in order to decrease the market prion per share of its stock. The company's stock was trading of 317 per share immediately before the spilt Read the requirements Requirement 1. Prepare the stockholders' equily section of the Decor and More Imports balance sheet after the stock uplt. Select the labels and then enter the...
When 2,000 shares of $5 stated value common stock is issued at $18 per share, O A. the accounting is exactly the same as the accounting for par value stock O B. Common Stock — $5 Stated is credited for $36,000 O c. the difference between the issue price and the stated value is credited to Paid – In Capital in Excess of Stated - Common OD. the account titled Paid - In Capital in Excess of Stated - Common...
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