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Exercise 15-03 27,000 shares reacquired by Windsor Corporation for $51 per share were exchanged for undeveloped...
Exercise 15-3 25,000 shares reacquired by Sage Corporation for $50 per share were exchanged for undeveloped...
Exercise 15-3 25,000 shares reacquired by Sage Corporation for $50 per share were exchanged for undeveloped land that has an appraised value of $1,497,000. At the time of the exchange, the common stock was trading at $57 per share on an organized exchange. (a) Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was originally recorded using the cost method. (Credit account titles are automatically indented when amount is entered. Do not...
Exercise 15-3 22,000 shares reacquired by Tamarisk Corporation for $53 per share were exchanged for undevelcped land th...
Exercise 15-3 22,000 shares reacquired by Tamarisk Corporation for $53 per share were exchanged for undevelcped land that has an appraised value of $1,504,000. At the time of the exchange, the common stock was trading at $64 per share on an organized exchange. (a) Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was ornginally recorded using the cost method. (Credit account titles are automatically indented when amount is entered. Do no...
Brief Exercise 16-03 Windsor Corporation issued 1,900 shares of $10 par value common stock upon conversion...
Brief Exercise 16-03 Windsor Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares of $50 par value preferred stock. The preferred stock was originally issued at $62 per share. The common stock is trading at $26 per share at the time of conversion. Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
Current Attempt in Progress Waterway Company obtained land by issuing 2,120 shares of its $15 par...
Current Attempt in Progress Waterway Company obtained land by issuing 2,120 shares of its $15 par value common stock. The land was recently appraised at $99,730. The common stock is actively traded at $45 per share. Prepare the journal entry to record the acquisition of the land. (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 for the amounts.) Account Titles and...
Brief Exercise 16-3 Nash Corporation issued 2,200 shares of $10 par value common stock upon conversion...
Brief Exercise 16-3 Nash Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $61 per share. The common stock is trading at $26 per share at the time of conversion Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
Tamarisk Company obtained land by issuing 2,950 shares of its $10 par value common stock. The...
Tamarisk Company obtained land by issuing 2,950 shares of its $10 par value common stock. The land was recently appraised at $122,940. The common stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of the land. (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.) Account Titles and Explanation Debit...
Blue Company obtained land by issuing 2,430 shares of its $12 par value common stock. The...
Blue Company obtained land by issuing 2,430 shares of its $12 par value common stock. The land was recently appraised at $106,500. The common stock is actively traded at $42 per share. Prepare the journal entry to record the acquisition of the land. (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 O for the amounts.) Account Titles and Explanation Debit...
Marigold Company obtained land by issuing 2,890 shares of its $10 par value common stock. The land was recently appr...
Marigold Company obtained land by issuing 2,890 shares of its $10 par value common stock. The land was recently appraised at $119,830. The common stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of the land. (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 o for the amounts.) Account Titles and Explanation Debit...
Exercise 15-6 Monty Corporation is authorized to issue 53,000 shares of $5 par value common stock....
Exercise 15-6 Monty Corporation is authorized to issue 53,000 shares of $5 par value common stock. During 2017, Monty took part in the following selected transactions. 1. Issued 5,100 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $6,800. 2. Issued 1,100 shares of stock for land appraised at $53,000. The stock was actively traded on a national stock exchange at approximately $50 per share on the date of issuance. 3. Purchased...
Bramble Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (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...
Exercise 15-3 22,000 shares reacquired by Tamarisk Corporation for $53 per share were exchanged for undevelcped land that has an appraised value of $1,504,000. At the time of the exchange, the common stock was trading at $64 per share on an organized exchange. (a) Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was ornginally recorded using the cost method. (Credit account titles are automatically indented when amount is entered. Do no...
Brief Exercise 16-03 Windsor Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares of $50 par value preferred stock. The preferred stock was originally issued at $62 per share. The common stock is trading at $26 per share at the time of conversion. Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
Current Attempt in Progress Waterway Company obtained land by issuing 2,120 shares of its $15 par value common stock. The land was recently appraised at $99,730. The common stock is actively traded at $45 per share. Prepare the journal entry to record the acquisition of the land. (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 for the amounts.) Account Titles and...
Brief Exercise 16-3 Nash Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $61 per share. The common stock is trading at $26 per share at the time of conversion Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
Tamarisk Company obtained land by issuing 2,950 shares of its $10 par value common stock. The land was recently appraised at $122,940. The common stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of the land. (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.) Account Titles and Explanation Debit...
Blue Company obtained land by issuing 2,430 shares of its $12 par value common stock. The land was recently appraised at $106,500. The common stock is actively traded at $42 per share. Prepare the journal entry to record the acquisition of the land. (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 O for the amounts.) Account Titles and Explanation Debit...
Marigold Company obtained land by issuing 2,890 shares of its $10 par value common stock. The land was recently appraised at $119,830. The common stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of the land. (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 o for the amounts.) Account Titles and Explanation Debit...
Exercise 15-6 Monty Corporation is authorized to issue 53,000 shares of $5 par value common stock. During 2017, Monty took part in the following selected transactions. 1. Issued 5,100 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $6,800. 2. Issued 1,100 shares of stock for land appraised at $53,000. The stock was actively traded on a national stock exchange at approximately $50 per share on the date of issuance. 3. Purchased...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (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...
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