Homework Answers
| S.No. | Account Titles | Debit $ | Credit $ |
| a. | Cash | 52,000 | |
| Common Stock , $ 5 Par value (2,000 x 5 ) | 10,000 | ||
| Paid in capital in excess of par value -Common Stock | 42,000 | ||
| b | Cash | 52,000 | |
| Common Stock , $ 5 Stated Value (2,000 x 5 ) | 10,000 | ||
| Paid in capital in excess of Stated value -Common Stock | 42,000 | ||
| c | Cash | 52,000 | |
| Common Stock | 52,000 | ||
| d | Incorporation Expense | 52,000 | |
| Common Stock , $ 5 Par value (2,000 x 5 ) | 10,000 | ||
| Paid in capital in excess of par value -Common Stock | 42,000 | ||
| e | Land | 52,000 | |
| Common Stock , $ 5 Par value (2,000 x 5 ) | 10,000 | ||
| Paid in capital in excess of par value -Common Stock | 42,000 |
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E11.4 (LO 2) Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the...
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...
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...
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...
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...
sage Corporation issued 4,050 shares of stock under the folowing assumptions. (Credit account titles are automatically...
sage Corporation issued 4,050 shares of stock under the folowing assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually Round anssers to 0 decimal ple a) The stock had a par value of $7 per share and was issued for a total of $56,500. (b) The stock had a stated value of $7 per share and was issued for a total of $56,500. (c) The stock had no par or stated value and was...
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...
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following...
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its...
Dedicared Fun Corporation issued 2,000 shares of common stock and 400 shares of preferred stock for...
Dedicared Fun Corporation issued 2,000 shares of common stock and 400 shares of preferred stock for a lump sum of $72,000 cash. Give the entry for the issuance assuming the par value of the common stock was $5 and the fair value $30, and the par value of the preferred stock was $40 and the fair value $50. (Each valuation is on a per share basis and there are ready markets for each stock.) Give the entry for the issuance...
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 8,000...
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 8,000 shares of $10 par value common stock for $96,000 cash. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $38,000. The stock has a $1 per share stated value. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $38,000. The...
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...
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...
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...
sage Corporation issued 4,050 shares of stock under the folowing assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually Round anssers to 0 decimal ple a) The stock had a par value of $7 per share and was issued for a total of $56,500. (b) The stock had a stated value of $7 per share and was issued for a total of $56,500. (c) The stock had no par or stated value and was...
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...
Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its...
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