Homework Answers
| Journal entries: | ||||||
| Date | Accounts title and explanations | Debit $ | Credit $ | |||
| a. | Cash account (5300*48-4900) | 249500 | ||||
| Common Stock capital (5300*5) | 26500 | |||||
| Additional Paid in capital-Common | 223000 | |||||
| b. | Land Account | 53000 | ||||
| Common Stock capital (1100*5) | 5500 | |||||
| Additional Paid in capital -Common | 47500 | |||||
| c. | Treasury Stock (500*45) | 22500 | ||||
| Cash account | 22500 | |||||
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lus.com/edugen/student/mainfr.uni S Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCo Sunland Corporation is authorized to issue 53,000 shares of $5 par value common stock. During 2017, Sunla...
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Exercise 15-6 Monty Corporation is authorized to issue 53,000 shares of $5 par value common stock. During 2017, Monty took part in the following selected transactions. 1. Issued 5,100 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $6,800. 2. Issued 1,100 shares of stock for land appraised at $53,000. The stock was actively traded on a national stock exchange at approximately $50 per share on the date of issuance. 3. Purchased...
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Whispering Corporation is authorized to issue 45,000 shares of
$5 par value common stock. During 2020, Whispering took part in the
following selected transactions.
1.
Issued 4,500 shares of stock
at $48 per share, less costs related to the issuance of the stock
totaling $6,300.
2.
Issued 1,100 shares of stock
for land appraised at $45,000. The stock was actively traded on a
national stock exchange at approximately $49 per share on the date
of issuance.
3.
Purchased 530 shares...
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Kingbird Corporation is authorized to issue 48,000 shares of $5 par value common stock. During 2017, Kingbird took part in the following selected transactions. 1. Issued 4,600 shares of stock at $48 per share, less costs related to the issuance of the stock totaling $8,100. 2. Issued 1,000 shares of stock for land appraised at $48,000. The stock was actively traded on a national stock exchange at approximately $49 per share on the date of issuance. 3. Purchased 490 shares...
Monty Corporation is authorized to issue 55,000 shares of $5 par value common stock. During 2020, Monty took part in the following selected transactions. 1. Issued 4,500 shares of stock at $42 per share, less costs related to the issuance of the stock totaling $9,100. 2. Issued 1,200 shares of stock for land appraised at $55,000. The stock was actively traded on a national stock exchange at approximately $43 per share on the date of issuance. 3. Purchased 480 shares...
Whispering Corporation is authorized to issue 45,000 shares of
$5 par value common stock. During 2020, Whispering took part in the
following selected transactions.
1.
Issued 4,500 shares of stock
at $48 per share, less costs related to the issuance of the stock
totaling $6,300.
2.
Issued 1,100 shares of stock
for land appraised at $45,000. The stock was actively traded on a
national stock exchange at approximately $49 per share on the date
of issuance.
3.
Purchased 530 shares...
E15-6 (L01,2) (Stock Issuances and Repurchase) Lindsey Hunter Corporation is authorized to issue 5 value common stock. During 2017, Lindsey Hunter took part in the following selected transactions. 1. Issued 5,000 shares of stock at $45 per share la "stock at $45 per share, less costs related to the issuance of the stock totaling $7,000. masts related to the issuance of the stock te 2. Issued 1,000 shares of stock for land appraised at $50.000. The stock was actively traded...
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