Homework Answers
| Statement showing Stockholder Equity | |
| Common Stock (250+1700) | $1,950 |
| Preferred Stock | 21000 |
| Paid-in
capital in excess of par value - Common (7250+23300) |
$30,550 |
| Total Paid in Capital | $53,500 |
| Retained earnings | $39,000 |
| Total Stock Holder Equity | $92,500 |
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Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Dat...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $59,000. In addition, Axle received cash for 7,000 shares of its $20 par preferred stock at par value and 7,500 shares of its no-par common stock at $45 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ Rates Corp. issued 1,000...
The charter for WXYZ minus TVWXYZ−TV, Inc. authorizes the company to issue 100,000 shares of $4...
The charter for WXYZ minus TVWXYZ−TV, Inc. authorizes the company to issue 100,000 shares of $4 no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, WXYZ minus TVWXYZ−TV completed the following transactions: LOADING... (Click on the icon to view the transactions)Read the requirements LOADING... . Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sep.Sep....
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
The charter for KWCP-TV, Inc. authorizes the company to issue 100,000 shares of $6, no par...
The charter for KWCP-TV, Inc. authorizes the company to issue 100,000 shares of $6, no par preferred stock and 500,000 shares of common stock with S1 par value. During its startup phase, KWCP - TV completed the following transactions: (Click on the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the general journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Sep. 6: Issued 225...
Mendoza Corp was organized on JAN 1, 2017. It is authorized to issue 20,000 shares of...
Mendoza Corp was organized on JAN 1, 2017.
It is authorized to issue 20,000 shares of 6%, $40 par value
preferred stock, and 500,000 shares of no-par common stock with a
stated value of $2 per share.
These stock transactions were completed during the first year.
Jan 10 Issued 100,000 shares of common stock for cash at $3 per
share. ar. 1 Issued 10,000 shares of preferred stock for cash at
$55 per share.
Apr. 1 Issued 25,000 shares of...
Debit Credit Mar. 4: Issued 20,000 shares of $1 par value common stock at $9 per...
Debit Credit Mar. 4: Issued 20,000 shares of $1 par value common stock at $9 per share. Date Accounts and Explanation Mar. 4 Cash Common Stock-$1 Par Value Paid In Capital in Excess of Par-Common 180,000 20,000 160,000 Issued common stock for cash. May 22: Purchased 1,200 shares of treasury stock-common at $11 per share. Date Accounts and Explanation May 22 Treasury Stock-Common Cash Debit Credit 13,200 13,200 Purchased treasury stock. Credit Sep. 22: Sold 600 shares of treasury stock-common...
Eestion 14 The charter for WPAC-TV, Inc, authorizes the company to issue 100,000 shares of $4,...
Eestion 14 The charter for WPAC-TV, Inc, authorizes the company to issue 100,000 shares of $4, no par preferred stock and 5 following transactions: i (Click on the icon to view the transactions) Read the requirements Sep. 14: Issued 1,900 shares of common stock in exchange for land with a market value of $23,000. Date Accounts and Explanation Debit Credit Sep. 14 Requirement 2. Prepare the stockholders' equity section of the WPAC-TV balance sheet at September 30, 2018, WPAC-TV. Inc...
B- Mobile Wireless needed additional capital to expand, so bisuness incorporated. The charter from state of...
B-
Mobile Wireless needed additional capital to expand, so bisuness
incorporated. The charter from state of Georgia authorized B-Mobile
to issue $80,000 shares of 9%, $50 par value cumulative preferred
stock and $170,000 shares of $4 par value common stock. During the
first month, B-Mobile completed the following transactions:
Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 23,000 shares...
Problem 13-03A a-c (Video) The stockholders' equity accounts of Ayayai Corporation on January 1, 2020, were as follows Preferred Stock (8%, $48 par, 10,000 shares authorized) Common Stock ($1 sta...
Problem 13-03A a-c (Video) The stockholders' equity accounts of Ayayai Corporation on January 1, 2020, were as follows Preferred Stock (8%, $48 par, 10,000 shares authorized) Common Stock ($1 stated value, 1,900,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,000 common shares) $360,000 1,000,000 100,000 1,400,000 1,750,000 40,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 Issued...
Flint Corporation was organized on January 1, 2022. It is authorized to issue 23,300 shares of...
Flint Corporation was organized on January 1, 2022. It is authorized to issue 23,300 shares of 6%. $50 par value preferred stock and 469,000 shares of no par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 74,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 1.290 shares of preferred stock for cash at $56 per share. May 1 Issued 119.500...
Axle Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $59,000. In addition, Axle received cash for 7,000 shares of its $20 par preferred stock at par value and 7,500 shares of its no-par common stock at $45 per share. Without making journal entries, determine the total paid-in capital created by these transactions. The total paid-in capital created by these transactions amounts to $ Rates Corp. issued 1,000...
Mar. 23: Issued 240 shares of $1 par value common stock for cash of $12 per share Accounts and Explanation Date Debit Credit 2,880 Cash Mar. 23 Common Stock-$1 Par Value 240 Paid-In Capital in Excess of Par-Common 2,640 Issued common stock for cash. Apr. 12: Received inventory with a market value of $24,000 and equipment with a market value of $18,000 for 340 shares of the $1 par value common stock Accounts and Explanation Date Debit Credit 24,000 Inventory...
The charter for KWCP-TV, Inc. authorizes the company to issue 100,000 shares of $6, no par preferred stock and 500,000 shares of common stock with S1 par value. During its startup phase, KWCP - TV completed the following transactions: (Click on the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the general journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Sep. 6: Issued 225...
Mendoza Corp was organized on JAN 1, 2017.
It is authorized to issue 20,000 shares of 6%, $40 par value
preferred stock, and 500,000 shares of no-par common stock with a
stated value of $2 per share.
These stock transactions were completed during the first year.
Jan 10 Issued 100,000 shares of common stock for cash at $3 per
share. ar. 1 Issued 10,000 shares of preferred stock for cash at
$55 per share.
Apr. 1 Issued 25,000 shares of...
Debit Credit Mar. 4: Issued 20,000 shares of $1 par value common stock at $9 per share. Date Accounts and Explanation Mar. 4 Cash Common Stock-$1 Par Value Paid In Capital in Excess of Par-Common 180,000 20,000 160,000 Issued common stock for cash. May 22: Purchased 1,200 shares of treasury stock-common at $11 per share. Date Accounts and Explanation May 22 Treasury Stock-Common Cash Debit Credit 13,200 13,200 Purchased treasury stock. Credit Sep. 22: Sold 600 shares of treasury stock-common...
Eestion 14 The charter for WPAC-TV, Inc, authorizes the company to issue 100,000 shares of $4, no par preferred stock and 5 following transactions: i (Click on the icon to view the transactions) Read the requirements Sep. 14: Issued 1,900 shares of common stock in exchange for land with a market value of $23,000. Date Accounts and Explanation Debit Credit Sep. 14 Requirement 2. Prepare the stockholders' equity section of the WPAC-TV balance sheet at September 30, 2018, WPAC-TV. Inc...
B-
Mobile Wireless needed additional capital to expand, so bisuness
incorporated. The charter from state of Georgia authorized B-Mobile
to issue $80,000 shares of 9%, $50 par value cumulative preferred
stock and $170,000 shares of $4 par value common stock. During the
first month, B-Mobile completed the following transactions:
Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 23,000 shares...
Problem 13-03A a-c (Video) The stockholders' equity accounts of Ayayai Corporation on January 1, 2020, were as follows Preferred Stock (8%, $48 par, 10,000 shares authorized) Common Stock ($1 stated value, 1,900,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,000 common shares) $360,000 1,000,000 100,000 1,400,000 1,750,000 40,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 Issued...
Flint Corporation was organized on January 1, 2022. It is authorized to issue 23,300 shares of 6%. $50 par value preferred stock and 469,000 shares of no par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 74,500 shares of common stock for cash at $6 per share. Mar. 1 Issued 1.290 shares of preferred stock for cash at $56 per share. May 1 Issued 119.500...
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