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Company can declared and distribute maximum 300 cash dividend as dividend rate on common stock is not fixed.
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The following information applies to the questions displayed below] Incentive Corporation was authorized to issue 12,000...
Required information [The following information applies to the questions displayed below.) Incentive Corporation was authorized to...
Required information [The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,000 shares of common stock for cash at $20 per share. b. Issued 2,000 shares of common stock for cash at $23 per share. 4. Incentive Corporation has $30,000 in the company's bank account. At year-end, the accounts reflected a...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 4. Incentive Corporation has $38,000 in the company's bank account. At year-end, the accounts reflected a...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet....
Required information [The following information applies to the questions displayed below.] Incentive Corporation...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for...
both parts please Required Information [The following information applies to the questions displayed below Incentive Corporation...
both parts please
Required Information [The following information applies to the questions displayed below Incentive Corporation was authorized to Issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed a Issued 5,600 shares of common stock for cash at $21 per share b. Issued 1,600 shares of common stock for cash at $24 per share 2. Prepare the journal entry required for each of these transactions. (It no...
Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par...
Incentive Corporation was authorized to issue 12,000 shares of
common stock, each with a $1 par value. During its first year, the
following selected transactions were completed:
a.
Issued 6,800 shares of common
stock for cash at $28 per share.
b.
Issued 2,800 shares of common
stock for cash at $31 per share.
E11-2 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account...
Required information (The following information applies to the questions displayed below.) Incentive Corporation was authorized to...
Required information (The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
Required information [The following information applies to the questions displayed below.] Tarrant Corporation was organized this...
Required information [The following information applies to the questions displayed below.] Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $16 par value, 12,900 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,700 shares of common stock for cash at $32 per share. b. Sold 1,200 shares of common stock for cash at $37 per share. c. At year-end, the accounts reflected income of...
Blue Spruce Corporation was organized on January 1, 2020. It is authorized to issue 12,000 shares...
Blue Spruce Corporation was organized on January 1, 2020. It is
authorized to issue 12,000 shares of 8%, $100 par value preferred
stock, and 462,000 shares of no-par common stock with a stated
value of $3 per share. The following stock transactions were
completed during the first year.
Jan.
10
Issued 77,000 shares of common stock for cash at $6 per
share.
Mar.
1
Issued 5,500 shares of preferred stock for cash at $110 per
share.
Apr.
1
Issued 25,000...
Required information [The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,000 shares of common stock for cash at $20 per share. b. Issued 2,000 shares of common stock for cash at $23 per share. 4. Incentive Corporation has $30,000 in the company's bank account. At year-end, the accounts reflected a...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 4. Incentive Corporation has $38,000 in the company's bank account. At year-end, the accounts reflected a...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet....
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for...
both parts please
Required Information [The following information applies to the questions displayed below Incentive Corporation was authorized to Issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed a Issued 5,600 shares of common stock for cash at $21 per share b. Issued 1,600 shares of common stock for cash at $24 per share 2. Prepare the journal entry required for each of these transactions. (It no...
Incentive Corporation was authorized to issue 12,000 shares of
common stock, each with a $1 par value. During its first year, the
following selected transactions were completed:
a.
Issued 6,800 shares of common
stock for cash at $28 per share.
b.
Issued 2,800 shares of common
stock for cash at $31 per share.
E11-2 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account...
Required information (The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
Required information [The following information applies to the questions displayed below.] Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $16 par value, 12,900 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,700 shares of common stock for cash at $32 per share. b. Sold 1,200 shares of common stock for cash at $37 per share. c. At year-end, the accounts reflected income of...
Blue Spruce Corporation was organized on January 1, 2020. It is
authorized to issue 12,000 shares of 8%, $100 par value preferred
stock, and 462,000 shares of no-par common stock with a stated
value of $3 per share. The following stock transactions were
completed during the first year.
Jan.
10
Issued 77,000 shares of common stock for cash at $6 per
share.
Mar.
1
Issued 5,500 shares of preferred stock for cash at $110 per
share.
Apr.
1
Issued 25,000...
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