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Given the information provided: Record all the journal entries for Destiny Calling’s transactions listed above. Taking...
2. Destiny Calling, Co. reported the following information in the equity section of their balance sheet at December 31, 2019: Stockholders' equity: Preferred stock, $0.02 par $0 Common stock, $0.01 par (300,000 shares issued and outstanding) $3,000 Additional paid-in capital 109,421 Retained earnings 47,388 Total equity $159.809 During 2020, Destiny Calling completed these transactions that affected stockholders' equity: January 9 Issued 2,500 shares of common stock for $20 per share. March 15 Reacquired 1,000 shares of common stock as treasury...
2. Destiny Calling, Co. reported the following information in the equity section of their balance sheet at December 31, 2019: Stockholders' equity: Preferred stock, $0.02 par $0 Common stock, $0.01 par (300,000 shares issued and outstanding) $3,000 Additional paid-in capital 109,421 47,388 Retained earnings $159.809 Total equity Duri#2020, Destiny Calling completed these transactions that affected stockholders' equity: January 9 Issued 2,500 shares of common stock for $20 per share. March 15 Reacquired 1,000 shares of common stock as treasury stock,...
a) Prepare journal entries to record the transactions above. Swifty Corp. reported the following amounts in the shareholders' equity section of its December 31, 2019 SFP: Preferred shares, $7 dividend (12,000 shares authorized, 2,400 shares issued) Common shares (unlimited authorized, 29,000 issued) Contributed surplus Retained earnings Accumulated other comprehensive income Total $242,400 696,000 47,100 300,000 66,000 $1,351,500 During 2020, the company had the following transactions that affect shareholders' equity. LI, 2019 1. Paid the annual 2019 $7 per share dividend...
Q2- Prepare the journal entries to record these transactions: A. At the beginning of the year Mohammed, Inc. issued an amount of shares of 5 par value stock for 30 per share. (Provide an amount of the stock issued)? B. On December 1st, Mohammed's, Inc. declared a 5 per share cash dividend, for an amount of common shares outstanding (Provide an amount of the common shares). The dividend will be paid on December 31 to stockholders of record on December...
Record These Journal Entries: 1) Record the issuance of 1.10 million shares of common stock for $31 per share. 2) Record the issuance of 560,000 shares of preferred stock for $22 per share. 3) Record the purchase of 110,000 shares of its own common stock for $26 per share. 4) Record the resell 82,500 shares of treasury stock for $41 per share. 5) Record the declaration of a cash dividend on its common stock of $1.10 per share and a...
On January 1, Crane Corporation had 99,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 25,500 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per...
Stockholders’ Equity: Planet Express, Inc. reported the following information in the equity section of their balance sheet at December 31, 2017: Stockholders’ Equity: Common stock, $0.25 par (1,000,000 shares authorized; 80,000 shares issued and outstanding) $20,000 Additional paid-in capital $1,043,505 Retained earnings $127,032 Total equity: $1,190,537 During 2018, Planet Express completed these transactions that affected stockholders’ equity: Date: Transaction: 2/28 Issued 9,000 shares of Common Stock for $16 per share. 4/19 Declared a cash dividend of $0.15 per common...
Problem 8-5 On December 31, 2016, Wildhorse Co. had 1,375,000 shares of $7 par common stock issued and outstanding. At December 31, 2016, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,625,000 1,910,000 1,295,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1. On January 10, 2017, issued at $109 per share 117,000 shares of $104 par value, 8% cumulative preferred stock. 2. On February 8, 2017, reacquired...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash. PII-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below; LO7, 8 MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings $160,000...
Recording stock issuances sin exchange foto Prepare journal entries to record each of the 1. A corporation issued 4,000 shares of $5 par value common stock for $35.000 ca 2. A corporation issued 2,000 shares of no-par common stock to its promoters in forts, estimated to be worth $40,000. The stock has a si per share stated value 3. A corporation issued 2,000 shares of no-par common stock to its promoters in a forts, estimated to be worth $40,000. The...