On January 22, Limerick Corporation issued for cash 27,000 shares of no-par common stock at $15. On February 14, Limerick issued at par value 7,000 shares of preferred 3% stock, $80 par for cash. On August 30, Limerick issued for cash 12,000 shares of pre
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On January 22, Limerick Corporation issued for cash 27,000 shares of no-par common stock at $15. On February 14, Limerick issued at par value 7,000 shares of preferred 3% stock, $80 par for cash. On August 30, Limerick issued for cash 12,000 shares of pre
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 26,000 shares of no-par...
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 26,000 shares of no-par common stock at $35. On February 14, Limerick issued at par 9,000 shares of 3%, $50 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 30,000 shares of preferred 3% stock, $50 par at $54. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require...
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 31,000 shares of no-par...
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 31,000 shares of no-par common stock at $20. On February 14, Limerick issued at par 10,000 shares of 6%, $80 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 17,000 shares of preferred 6% stock, $80 par at $89. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require...
Question 2 Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 21,000 shares of no-par common...
Question 2
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 21,000 shares of no-par common stock at $15. On February 14, Limerick issued at par value 3,000 shares of preferred 4% stock, $50 par for cash. On August 30, Limerick issued for cash 28,000 shares of preferred 4% stock, $50 par at $54. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry,...
On January 22, Erin Corporation issued for cash 32,000 shares of no-par common stock at $30....
On January 22, Erin Corporation issued for cash 32,000 shares of no-par common stock at $30. On February 14, Erin issued at par 10,000 shares of 3%, $100 par preferred stock for cash. On August 30, Erin Corporation issued for cash 16,000 shares of preferred 3% stock, $100 par at $112. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it...
On January 22, Zentric Corporation issued for cash 160,000 shares of no-par common stock at $8....
On January 22, Zentric Corporation issued for cash 160,000 shares of no-par common stock at $8. On February 14, Zentric issued at par value 45,000 shares of preferred 2% stock, $50 par for cash. On August 30, Zentric issued for cash 10,000 shares of preferred 2% stock, $50 par at $56. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank. Jan. 22 Cash...
Or corporation issued for cash 25000 shares of no par common stock at $20 on February...
Or corporation issued for cash 25000 shares of no par common stock at $20 on February 14th more issued at par value 4000 shares of preferred 4% stock $75 part for cash on August 30th more issued for cash 32000 shares of preferred for present stock $75 part at $81 journalize their entries to record the January 22nd February 14 and August 30th transactions
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal...
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: Multiple Choice O Debit Cash $7,000; Credit Common Stock $7,000 Debit investment in Common Stock $7,000, credit Cash $7,000. O O Debit Cash $7,000; Credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000 O O Debit Common Stock $6,000, debit Investment in Common Stock $1,000, credit Cash $7,000. O O Debit Cash...
On February 1, Westwood Corporation issued 5,000 shares of its $20 par value preferred stock for...
On February 1, Westwood Corporation issued 5,000 shares of its $20 par value preferred stock for $26 per share. Journalize the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 (Issued 5,000 shares at $26 per share)
HC Corporation issued 7,000 shares of its $2 par value common stock at a market price...
HC Corporation issued 7,000 shares of its $2 par value common stock at a market price of $15 per share to acquire all the outstanding common stock of Barry Corporation. HC paid $2,000 of legal fees for this business combination and $700 for issuing the securities. Barry was merged into HC and dissolved. Information for Barry Corporation immediately before the merger was as follows: Book value Fair value Cash 2,000 2,000 Building 30,000 27,000 Patents 8,000 Total...
On January 2, Year 1 Torres Corporation issued 22,000 shares of $15 par value common stock...
On January 2, Year 1 Torres Corporation issued 22,000 shares of $15 par value common stock for $25 per share. Which of the following statements is true? Multiple Choice o The common stock account will increase by $550,000 o Total equity will increase by $330.000 o The paid in capital in excess of par value account will increase by $220,000. o The cash account will increase by $330.000
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 31,000 shares of no-par common stock at $20. On February 14, Limerick issued at par 10,000 shares of 6%, $80 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 17,000 shares of preferred 6% stock, $80 par at $89. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require...
Question 2
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 21,000 shares of no-par common stock at $15. On February 14, Limerick issued at par value 3,000 shares of preferred 4% stock, $50 par for cash. On August 30, Limerick issued for cash 28,000 shares of preferred 4% stock, $50 par at $54. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry,...
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is: Multiple Choice O Debit Cash $7,000; Credit Common Stock $7,000 Debit investment in Common Stock $7,000, credit Cash $7,000. O O Debit Cash $7,000; Credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000 O O Debit Common Stock $6,000, debit Investment in Common Stock $1,000, credit Cash $7,000. O O Debit Cash...
On February 1, Westwood Corporation issued 5,000 shares of its $20 par value preferred stock for $26 per share. Journalize the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 (Issued 5,000 shares at $26 per share)
On January 2, Year 1 Torres Corporation issued 22,000 shares of $15 par value common stock for $25 per share. Which of the following statements is true? Multiple Choice o The common stock account will increase by $550,000 o Total equity will increase by $330.000 o The paid in capital in excess of par value account will increase by $220,000. o The cash account will increase by $330.000
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