on april 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of...
on april 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction
Homework Answers
Answer:
|
date |
General Journal |
Debit |
Credit |
|
10-Apr |
Land (1000*57) |
$ 57,000 |
|
|
Common stock (1000*50) |
$ 50,000 |
||
|
paid in capital in excess of par account |
$ 7000 |
||
|
(To record purchase of Land by issuing common stock Par value $50 |
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on april 10, a company acquired land valued at $58,000 in
exchange for 1,000 shares of...
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of...
On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction. 3. 4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $3 noncumulative preferred stock, $50 par, and 100,000 shares of $10 par common stock. Jounalize the following transactions that were completed during the first year of operations: Jan. 30 Issued...
Instructions On April 10, a company acquired land in exchange for 1,000 shares of $20 par...
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Issuing Stock for Assets Other Than Cash On April 5, Fenning Corporation, a wholesaler of hydraulic...
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On April 10, a company acquired land valued at $58,000 in exchange for 1,000 shares of $50 par common stock with a current market price of $57. Journalize this transaction. 3. 4. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $3 noncumulative preferred stock, $50 par, and 100,000 shares of $10 par common stock. Jounalize the following transactions that were completed during the first year of operations: Jan. 30 Issued...
Instructions On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current market price of $73. Required: Journalize this transaction. Refer to the Chart of Accounts for exact wording of account titles.
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Sudoku Company issues 27,000 shares of $9 par value common stock in exchange for land and a building. The land is valued at $235,000 and the building at $362,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building. View transaction list Journal entry worksheet Record the issue of 27,000 shares of $9 par value common stock in exchange for land valued at $235,000 and a building valued at $362,000. Note: Enter debits...
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Sudoku Company issues 22,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $227.000 and the building at $368,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Land Building
Issuing Stock for Assets Other Than Cash On April 5, Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 26,000 shares of $15 par common stock valued at $20 Journalize the entry to record the transaction. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 5
Instructions On April 5, Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 7,400 shares of $5 par common stock valued at $35 per share. Journalize the entry to record the transaction. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts General Ledger ASSETS 110 Cash REVENUE 410 Sales 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable EXPENSES 510 Cost of Merchandise Sold 141 Merchandise Inventory 145...
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