No Par and Authorized Capital
If a Corporation has 20,000 no par value and 20000 authorized capital is there a formula of what it's worth? If so what? If not, what does it mean? Or is there anything to figure out?
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Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Preferred Stock, $9,600. Common Stock: $60 par value; 20,000 shares authorized; 9,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Common Stock, $11,400. Retained Earnings: Total, $125,000; appropriated for warehouse construction, $50,000. Using this information, prepare the Stockholders’ Equity section of the corporation’s balance sheet
A corporation was organized in January 2018 with authorized capital of $10 par value common stock....
A corporation was organized in January 2018 with authorized capital of $10 par value common stock. On February 1, 2018, shares were issued at par for cash. On March 1, 2018, the corporation's attorney accepted 7100 shares of common stock in settlement for legal services with a fair value of $92000. Additional paid-in capital would increase on February 1, 2018 March 1, 2018 No No Yes Yes No Yes Yes No
A corporation was organized in January 2021 with authorized capital of $10 par value common stock....
A corporation was organized in January 2021 with authorized capital of $10 par value common stock. On February 1, 2021, shares were issued at par for cash. On March 1, 2021, the corporation's attorney accepted 6400 shares of common stock in settlement for legal services with a fair value of $82000. Additional paid-in capital would increase on February 1, 2021 March 1, 2021 O Yes No No No ооо Yes W Yes No Yes
Pringle Corporation has been authorized to issue 20,000 shares of $100 par value, 7%, noncumulative preferred...
Pringle Corporation has been authorized to issue 20,000 shares of $100 par value, 7%, noncumulative preferred stock and 1,000,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2014, the ledger contained the following balances pertaining to stockholders
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Adam Corporation was incorporated on January 1, year 1, with the following authorized capital: 20,000 shares...
Adam Corporation was incorporated on January 1, year 1, with the following authorized capital: 20,000 shares of common stock, no par value, stated value $40 per share 5,000 shares of 5% cumulative preferred stock, par value $10 per share During year 1 , Adam issued 12,000 shares of common stock for a total of $600,000 and 3,000 shares pf preferred at $16 per share. In addition, on December 20, subscriptions for 1,000 shares of preferred were taken at a price of...
Martinez Corp has issued 94,000 shares of $4 par value common stock. It was authorized 500.000...
Martinez Corp has issued 94,000 shares of $4 par value common stock. It was authorized 500.000 shares. The paid in capital in excess of par value on the common stock is $259.000 The corporation has reacquired 6 200 shares at a cost of $40,000 and is currently holding those shares. It also had accumulated other comprehensive income of $62,300. The corporation also has 1.400 shares issued and outstanding of 7%.5101 per value preferred stock. It was auchorized 9.100 shares. The...
Goofy Corporation was authorized to issue 200,000 shares of common stock. Give the general Journal entry...
Goofy Corporation was authorized to issue 200,000 shares of common stock. Give the general Journal entry in the attached workpaper to record the issue of 20,000 shares of stock for $20 per share cash if the common stock has no par and no stated value. Goofy Corporation was authorized to issue 200,000 shares of common stock. Give the general journal entry in the attached work paper to record the issue of 20,000 shares of common stock for $20 per share...
PDC Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2016,...
PDC Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2016, the company has the following stock transactions. Journalize the transactions for PDC Corporation. Jan. 15 Issued 700,000 shares of stock at $7 per share Dr. Cash $ 4,900,000 Cr Paid-in Capital in Excess of Par Value Common Stock $ Sept 5 Purchased 30,000 shares of common stock for the treasury at $6 per share Cr. Cash Dec 6 Declared a $0 50 per share...
A corporation was organized in January 2021 with authorized capital of $10 par value common stock. On February 1, 2021, shares were issued at par for cash. On March 1, 2021, the corporation's attorney accepted 6400 shares of common stock in settlement for legal services with a fair value of $82000. Additional paid-in capital would increase on February 1, 2021 March 1, 2021 O Yes No No No ооо Yes W Yes No Yes
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Martinez Corp has issued 94,000 shares of $4 par value common stock. It was authorized 500.000 shares. The paid in capital in excess of par value on the common stock is $259.000 The corporation has reacquired 6 200 shares at a cost of $40,000 and is currently holding those shares. It also had accumulated other comprehensive income of $62,300. The corporation also has 1.400 shares issued and outstanding of 7%.5101 per value preferred stock. It was auchorized 9.100 shares. The...
Goofy Corporation was authorized to issue 200,000 shares of common stock. Give the general Journal entry in the attached workpaper to record the issue of 20,000 shares of stock for $20 per share cash if the common stock has no par and no stated value. Goofy Corporation was authorized to issue 200,000 shares of common stock. Give the general journal entry in the attached work paper to record the issue of 20,000 shares of common stock for $20 per share...
PDC Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2016, the company has the following stock transactions. Journalize the transactions for PDC Corporation. Jan. 15 Issued 700,000 shares of stock at $7 per share Dr. Cash $ 4,900,000 Cr Paid-in Capital in Excess of Par Value Common Stock $ Sept 5 Purchased 30,000 shares of common stock for the treasury at $6 per share Cr. Cash Dec 6 Declared a $0 50 per share...
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