Question 16 Unter 1mon shares of common stock with a par value of 5010 for $15.00...
Question 22 (2 points) Brandon Corporation sold 10,000 shares of $5 par value common stock at $7 per share. The journal entry to record this transaction is debit Common Stock $50,000; debit Paid-in Capital in Excess of Par-Common $20,000; credit Cash $70,000. debit Cash $70,000; credit Common Stock $50,000; credit Paid-in Capital in Excess of Par-Common $20,000. debit Cash $70,000; credit Common Stock $70,000. debit Common Stock $70,000; credit Cash $70,000. Question 23 (2 points) Saved
On 11/16/2019, Out to Get You, Inc. issued 11,000 shares of $0.10 par value common stock for $5 per share. The journal entry to record this issuance would include: a. A debit to Cash for $55,000. b. A credit to Common Stock for $53,900. c. A credit to Additional Paid-in Capital for $55,000. d. A credit to Common Stock for $55,000. e. A credit to Additional Paid-in Capital for $1,100.
Question 21 4 pts Wright Inc. issued 20,000 shares of $1 par value common stock for $80,000. The journal entry to record this issuance includes a: Credit to Cash for $80,000. Credit to Common Stock for $20,000. Debit to Additional Paid-In Capital for $60,000. Credit to Common Stock for $80,000.
The Company issued 20,000 shares of no-par common stock, stated value $20, at $32 cash per share. The journal entry to record this transaction is Select one: a. Debit: Cash 640,000 Credit: Common Stock 400,000 Credit: Paid-in Capital in Excess of Stated Value 240,000 b. Debit: Cash 640,000 Credit: Common Stock 640,000 c. Debit: Cash 640,000 Credit: Common Stock 400,000 Credit: Paid-in Capital in Excess of Par Value 240,000
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: Debit Common Stock $26,000; credit Cash $26,000. Debit Common Stock $26,000; debit Paid-in Capital in Excess of Par Value, Common Stock $286,000; credit Cash $312,000. Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value,...
A corporation issued 5,000 shares of its no par common stock that was assigned a $1 stated value per share. The issue price was $10 per share. The entry to record this transaction would be Debit Cash $50,000; credit Paid-in Capital in Excess of Stated Value, Common Stock $45,000; credit Common Stock $5,000. Debit Cash $50,000; credit Common Stock $50,000. Debit Common Stock $50,000; credit Cash $50,000. Debit Treasury Stock $50,000; credit Cash $50,000. Debit Common Stock $25,000; debit Paid-in...
The Company issued for $57 per share 5,000 shares of $30 par value common stock. The journal entry to record this transaction is: Select one: a. Debit: Cash 285,000 Credit: Common Stock 285,000 b. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Gain on Sale of Stock 135,000 c. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Retained Earnings 135,000 d. Debit: Cash 285,000 Credit: Common Stock 150,000 Credit: Paid-in Capital in Excess of Par Value 135,000
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
QUESTION 9 Talboe Co, issued 90,000 shares of $9 par common stock for $1,500,000. A year later Talboe acquired 12,000 shares of its own common stock at $12 per share. Three months later Talboe sold 5,000 of these shares at $20 per share. Talboe Co. uses the cost method to record treasury stock transactions. Select which is the correct journal entry when Talboe Co. issue the stock. Debit Cash - 5810,000, Debit Dividends - $690,000; Credit Common Stock Par -...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...