Journalize Entries 38 Points: 30 Minutes stock authorized. During Rowlands Corporation has 100,000 shares of $10 par value it had the following transactions related to its preferred stock. E...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 91,000 shares of common stock for $603,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 9,000 shares of common stock for the treasury for $19 per share. Dec. 15 Declared a cash dividend...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued)$ 2,800,000 Common stock, $ 1 par (1,000,000 shares authorized, 307,000 shares issued) 307,000 Additional paid-in capital-common 858,000 Retained earnings 1,379,000 Total $ 5,344,000 During 2020, Pina took part in the following transactions concerning stockholders’ equity. .1.Paid the annual 2019 dividend on preferred stock and a $ 0.50 per share dividend on common stock. These dividends had been declared on December...
Concord Corporation is authorized to issue 23,500 shares of $50 par value, 10% preferred stock and 130,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders’ equity balances. Preferred Stock (10,500 shares) $525,000 Paid-in Capital in Excess of Par—Preferred Stock 68,500 Common Stock (63,500 shares) 317,500 Paid-in Capital in Excess of Par—Common Stock 750,000 Retained Earnings 330,000 During 2020, the following transactions occurred. Feb. 1 Issued 2,000 shares of preferred stock for...
Pronghorn Corporation has been authorized to issue 21.000 shares of $100 par value, 10 preferred stock and 1.040.000 shares of no-nar common stock. The corporation ass $2.60 stated value to the common stock. At December 31, 2020, the ledger contants common stock. The corporation assigned a balances pertaining to stockholders' equity. At December 31, 2020, the ledger contained the following Preferred Stock $125,000 Pald-in Capital in Excess of Par-Preferred Stock 17,000 Common Stock 1,040,000 Paid-in Capital in Excess of Stated...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per...
On January 1, Crane Corporation had 99,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 25,500 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per...
E14-1 & E14-2 E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the dividends еnt following occurred. Аpr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. July 10 1 Dec. Issued 2,000 additional shares...
Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of no-par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,160 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated...
Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 110,00e shares of common stock for $70 per share. February 14 Issue 60, 000 shares of preferred stock for $12 per share. May 8 Purchase 11, e00 shares of its own common stock for s60 per share. May 31 Resell 5,5ee shares of treasury stock for $65 per share. December 1...