Fronthouse Corp. issues 10,000 shares of no-par value preferred stock for cash at $60 per share....
Fronthouse Corp. issues 10,000 shares of no-par value preferred stock for cash at $60 per share. The journal entry to record the transaction will consist of a debit to Cash for $600,000 and a credit (or credits) to:
Preferred Stock for $20,000 and Retained Earnings for $580,000.
Retained Earnings for $600,000.
Preferred Stock for $20,000 and Additional Paid-in Capital for $580,000.
Preferred Stock for $600,000.
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Fronthouse Corp. issues 10,000 shares of no-par value preferred
stock for cash at $60 per share....
Sneed Corporation issues 11,300 shares of $54 par preferred stock for cash at $68 per share....
Sneed Corporation issues 11,300 shares of $54 par preferred stock for cash at $68 per share. The entry to record the transaction will consist of a debit to Cash for $768,400 and a credit or credits to a.Paid-In Capital from Preferred Stock for $768,400. b.Preferred Stock for $768,400. c.Preferred Stock for $610,200 and Retained Earnings for $158,200. d.Preferred Stock for $610,200 and Paid-In Capital in Excess of Par—Preferred Stock for $158,200.
Windsor, Inc. issues 31000 shares of $100 par value preferred stock for cash at $115 per...
Windsor, Inc. issues 31000 shares of $100 par value preferred stock for cash at $115 per share. The entry to record the transaction will consist of a debit to Cash for $3565000 and a credit or credits to Paid-in Capital from Preferred Stock for $3565000. Preferred Stock for $3565000 Preferred Stock for $3100000 and Paid-in Capita in Excess of Par Value-Preferred Stock for $465000 Preferred Stock for $3100000 and Retained Earnings for $348750
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share....
1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are made to a.Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000 b.Common Stock, $15,000, and Paid-In Capital in Excess of Par—Common Stock, $7,000 c.Common Stock, $22,000 2. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:...
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for...
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction wil consist of a debit to Cash for $757500 and a credit or credits to Preferred Stock for $505000 and Paid-in Capital in Excess of Par-Preferred Stock for $252500 Preferred Stock for $252500 and Paid-in Capital from Preferred Stock for $505000 Preferred Stock for $757500 Paid-in Capital from Preferred Stock for $757500 Click...
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When...
New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to 1.Common Stock $20,000 and Paid-in Capital in Excess of Par $12,000. 2. Common Stock $20,000 and Retained Earnings $12,000. 3. Common Stock $32,000. 4. Common Stock $20,000 and Paid-in Capital in Excess of Stated Value $12,000.
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at...
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $15 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of preferred stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Rachel's Designs has 1,800 shares of 5%, $50 par value cumulative preferred stock...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the beginning of 2019. Al remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders? Preferred dividends in arrears for 2019...
Tamarisk, Inc. Issues 9,400 shares of $106 par value preferred stock for cash at $110 per...
Tamarisk, Inc. Issues 9,400 shares of $106 par value preferred stock for cash at $110 per share. Prepare a tabular summary to record the issuance of the preferred stock. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity placed negative sign for parentheses) in front of the amount entered for the particular Asset, Lability or Equity Item that was reduced) Assets Liabilities Stockholders' Equity Pald-in-Capital Preferred Stock + Pd. In-Cap, preferred Cash + Revenue May 10 $...
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When...
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $20,250. Common Stock $14,850 and Pald-in Capital in Excess of Stated Value $5,400. Common Stock $5,400 and Retained Earnings $14,850. Common Stock $14,850 and Paid-in Capital in excess of Par Value $5,400.
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value...
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
Windsor, Inc. issues 31000 shares of $100 par value preferred stock for cash at $115 per share. The entry to record the transaction will consist of a debit to Cash for $3565000 and a credit or credits to Paid-in Capital from Preferred Stock for $3565000. Preferred Stock for $3565000 Preferred Stock for $3100000 and Paid-in Capita in Excess of Par Value-Preferred Stock for $465000 Preferred Stock for $3100000 and Retained Earnings for $348750
Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction wil consist of a debit to Cash for $757500 and a credit or credits to Preferred Stock for $505000 and Paid-in Capital in Excess of Par-Preferred Stock for $252500 Preferred Stock for $252500 and Paid-in Capital from Preferred Stock for $505000 Preferred Stock for $757500 Paid-in Capital from Preferred Stock for $757500 Click...
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $15 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of preferred stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Rachel's Designs has 1,800 shares of 5%, $50 par value cumulative preferred stock...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the beginning of 2019. Al remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders? Preferred dividends in arrears for 2019...
Tamarisk, Inc. Issues 9,400 shares of $106 par value preferred stock for cash at $110 per share. Prepare a tabular summary to record the issuance of the preferred stock. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity placed negative sign for parentheses) in front of the amount entered for the particular Asset, Lability or Equity Item that was reduced) Assets Liabilities Stockholders' Equity Pald-in-Capital Preferred Stock + Pd. In-Cap, preferred Cash + Revenue May 10 $...
Alliance Corp. Issues 1,350 shares of $11 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $20,250. Common Stock $14,850 and Pald-in Capital in Excess of Stated Value $5,400. Common Stock $5,400 and Retained Earnings $14,850. Common Stock $14,850 and Paid-in Capital in excess of Par Value $5,400.
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $17 per share. February 6 Issues 1,200 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $22 per share. December 15 Resells 5,000 shares of treasury stock at $27 per...
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