CP11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock...
CH6115 Sockholder COACHED PROBLEMS connect CP11-1 Analyz Worldwide Company Analyzing Accounting Equation Effects, Recording Journal Entries, and preparing a Partial Balance Sheet involving Stock Issuance, Purchase, and Reissuance Transactions de Company obtained a charter from the state in in that authorized 200 mon stock, $10 par value. During the first year, the company earned $38.200 and the following lected transactions occurred in the order given: ed 60,000 shares of the common stock at $12 cash per share. Reacquired 2,000 shares...
Why are these wrong??? Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [The following information applies to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order...
Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] (The following information applies to the questions displayed below.) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $460,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 100,000...
Check my work Part 2 of 2 Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions (LO 11-2] The following information applies to the questions displayed below) points Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $300,000 of net income, declared no dividends, and the following selected transactions...
Prepare journal entries to record each of the following four separate issuances of stock 1 A corporation issued 5.000 shares of $30 par value common stock for $180,000 cash 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for the lions estimated to be worth $23,000. The stock has a si per share stated value 3. A corporation issued 2.500 shares of no-par common stock to its promoters in exchange for the efforts, estimated...
STOCK TRANSACTIONS Show the effects of each transaction on the balance sheet equation, and prepare journal entries to receord the transactions. Ref. Liabilities + Assets Cash (+A) (a) 250,000 Strait Corp. sold 10,000 shares of $1 par value stock for $25 per share on May 1. Equity Common Stock (+SE) Additional Paid-in Capital (+SE) 10,000 240,000 Date Credit Debit 250,000 1-May Account Cash Common Stock Additional Paid-in Capital 10,000 240,000 Liabilities + Equity Assets Cash (-A) (b) (16,000) | (16,000)...
P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 [The following information applies to the questions displayed below.) Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Mango's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday...
Required information P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 [The following information applies to the questions displayed below) Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Mango's (simplified) balance sheet from a recent year (fiscal year ending on the...