Homework Answers
| Journal entries: | ||||||
| Date | Accounts title and explanations | Debit $ | Credit $ | |||
| a. | Cash account (10000*8) | 80000 | ||||
| Common Stock capital (10000*1) | 10000 | |||||
| Paid in capital in excess of Par value (10000*7) | 70000 | |||||
Add Answer to:
2 of 20 This Test: 100 pts possible This Question: 5 pts 6. London Corporation has...
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value....
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value....
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
6. London Corporation has two classes of stock Common, $1 par value, and Preferred, $4 par...
6. London Corporation has two classes of stock Common, $1 par value, and Preferred, $4 par value. Journakze the issuance of 10,000 shares of common stock for $8 per share. (Record Date Accounts and Explanations Debit upai
Weston Corporation issued 8.000 shares of no par common stock for $2 per share on August...
Weston Corporation issued 8.000 shares of no par common stock for $2 per share on August 13. Record the stock issuance (Record debits first, the credits Select the explanation on the last line of the journal entry) Date Accounts and Explanation Debit Credit Aug 13
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par...
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par value. Journalize the issuance of 8,000 shares of common stock for $14 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations | Debit Credit On March 1, 2018, Barker Services issued a 4% long-term notes payable for $20,000. It is payable over a 5-year term in $6,000 annual principal payments...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $59,000. In addition, Axle received cash for 7,000 shares of its $20 par preferred stock at par value and 7,500 shares of its no-par common stock at $45 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ Rates Corp. issued 1,000...
1. Record issuance of the stock if the stock: a. is true no-par stock. b. has...
1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $3 per share. 2. Which type of stock results in more total paid-in capital? Mates Corp. issued 4,000 shares of no-par common stock for $10 per share. Read the requirements. Requirement 1a. Record issuance of the stock if the stock is true no-par stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)...
On January 2, 2019, Best Corporation issued 3,000 shares of its $15 par-value common stock for...
On January 2, 2019, Best Corporation issued 3,000 shares of its $15 par-value common stock for cash at $36 a share. Prepare a journal entry to record the issuance of the stock. Journal entry worksheet Record the issuance of 3,000 shares of $15 par common stock at $36 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02, 2019
On January 2, 2019, Cotton Inc. issued 35,000 shares of $10 par-value common stock and 5,000...
On January 2, 2019, Cotton Inc. issued 35,000 shares of $10 par-value common stock and 5,000 shares of 8 percent, $50 par-value preferred stock for cash at par value. Prepare a journal entry to record the issuance of the stock. Journal entry worksheet Record the issuance of common stock at $10 per share and preferred stock at $50 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02, 2019
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
6. London Corporation has two classes of stock Common, $1 par value, and Preferred, $4 par value. Journakze the issuance of 10,000 shares of common stock for $8 per share. (Record Date Accounts and Explanations Debit upai
Weston Corporation issued 8.000 shares of no par common stock for $2 per share on August 13. Record the stock issuance (Record debits first, the credits Select the explanation on the last line of the journal entry) Date Accounts and Explanation Debit Credit Aug 13
6. Bronte Corporation has two classes of stock: Common, $1 par value; and Preferred, $2 par value. Journalize the issuance of 8,000 shares of common stock for $14 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations | Debit Credit On March 1, 2018, Barker Services issued a 4% long-term notes payable for $20,000. It is payable over a 5-year term in $6,000 annual principal payments...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $59,000. In addition, Axle received cash for 7,000 shares of its $20 par preferred stock at par value and 7,500 shares of its no-par common stock at $45 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ Rates Corp. issued 1,000...
1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $3 per share. 2. Which type of stock results in more total paid-in capital? Mates Corp. issued 4,000 shares of no-par common stock for $10 per share. Read the requirements. Requirement 1a. Record issuance of the stock if the stock is true no-par stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
Most questions answered within 3 hours.
-
Explain some different types of fungi. State the different
divisions undergo by fungi.
asked 9 minutes ago -
The shortest time that 120 C can flow through a 20 A circuit
breaker without tripping...
asked 10 minutes ago -
A software design pattern is a general, reusable solution to a
commonly occurring problem, acting as...
asked 13 minutes ago -
The mean waiting time at the drive-through of a fast-food
restaurant from the time an order...
asked 29 minutes ago -
The pitch (p) of a helix is defined as p = dn, in which n is...
asked 31 minutes ago -
Do you agree that the declining stock of social capital is the
blame for the failure...
asked 35 minutes ago -
A researcher is interested in whether coffee consumption helps
with performance on reading comprehension tasks. The...
asked 44 minutes ago -
it has been estimated since the beginning of the human race that
about 133 metric ton...
asked 50 minutes ago -
Where must Medicare prescription drug plans allow for
participants to fill their prescriptions?
asked 53 minutes ago -
Five moles of monatomic ideal gas have initial pressure 2.50 ×
103 Pa and initial volume...
asked 1 hour ago -
A resistor and the capacitor are used to control the timing in
the RC circuit of...
asked 1 hour ago -
Living in a group could bring several disadvantages to an
individual. What are some of the...
asked 1 hour ago