Homework Answers
| Cash | 5,956,500 | |
| Common stock (180,000*1) | 180,000 | |
| Paid in capital in excess of par - Common stock | 5,760,000 | |
| Preferred stock (1500*5) | 7,500 | |
| Paid in capital in excess of par - Preferred | 9,000 | |
| Treasury stock | 875,000 | |
| Cash (25,000*35) | 875,000 |
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Mohawk Company had the following transactions related to its common and preferred stock: March 22 Sold...
Mar May 22 Purchased 1,500 shares of treasury stock -common at $15 per share. Sep. 22...
Mar May 22 Purchased 1,500 shares of treasury stock -common at $15 per share. Sep. 22 Sold 800 shares of treasury stock--common at $22 per share. Oct. 14 Sold 700 shares of treasury stock common at $8 per share. 4 Issued 26,000 shares of $1 par value common stock at $9 per share Print Done Stock transactions for Mr. Magoo Driving School, Inc. follow 6 (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits....
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Coastal Corporation issued 25,000 shares of $11 par value common stock at $22 per share and...
Coastal Corporation issued 25,000 shares of $11 par value common stock at $22 per share and 6,000 shares of $56 par value, eight percent preferred stock at $84 per share. Later, the company purchased 3,000 shares of its own common stock at $26 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $30 per share. Prepare the general...
Bonita Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par...
Bonita Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 20,500 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $102,500 304,000 321,000 $727,500 During 2020, the following transactions occurred. Feb. 1 Bonita repurchased 1,950 shares of treasury stock at a price of $18 per share. Mar. 1 720 shares of treasury stock repurchased above were reissued at $16 per share. Mar. 18 520 shares of treasury stock...
Flounder Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par...
Flounder Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,900 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94,500 306,000 317,000 $717,500 During 2020, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Flounder repurchased 1,900 shares of treasury stock at a price of $18 per share. 810 shares of treasury stock repurchased above were reissued at $16 per share. 470 shares of...
Marigold Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par...
Marigold Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 18,200 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $91,000 299,000 320,000 $710,000 During 2017, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Marigold repurchased 1,990 shares of treasury stock at a price of $17 per share. 850 shares of treasury stock repurchased above were reissued at $15 per share. 530 shares of...
Surfing Dewd Corporation is authorized to issue both preferred and common stock. Surfing Dewd's preferred stock...
Surfing Dewd Corporation is authorized to issue both preferred and common stock. Surfing Dewd's preferred stock is $105 par, 6% preferred stock. During the first month of operations, the company engaged in the following transactions related to its stock. Show each of the following transactions in the accounting equation: March 1 Issued 16,000 shares of $0.50 par value common stock for cash at $5.00 per share Issued 1,500 shares of preferred stock at par March 11 Purchased 3,000 shares of...
Splish Company had the following stockholders' equity as of January 1,2020 .
Splish Company had the following stockholders' equity as of January 1,2020 .Common stock, $ 5 par value, 18,800 shares issued $ 94,000 Paid-in capital in excess of par-common stock 298,000 Retained earnings 319,000Total stockholders' equity $711,000During 2020 , the following transactions occurred.Feb. 1 Splish repurchased 2,100 shares of treasury stock at a price of $ 21 per share.Mar. 1 780 shares of treasury stock repurchased above were reissued at $ 19 per share.Mar. 18 510 shares of treasury stock repurchased above...
Flounder Company had the following stockholders' equity as of January 1, 2017 Common stock, $5 par...
Flounder Company had the following stockholders' equity as of January 1, 2017 Common stock, $5 par value, 21,000 shares issued $ 105,000 Paid in capital in excess of par common stock 207.000 Retained earnings 316.000 Total stockholders' equity $718,000 During 2017, the following transactions occurred. Feb. 1 Founder repurchased 1,960 shares of treasury stock at a price of $17 per share. Mar. 1 750 shares of treasury stock repurchased above were reissued at $15 per share. Mar. 18 510 shares...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value,...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value, 109,000 shares authorized Preferred stock (noncumulative), 9 percent, $8 par value, 4,600 shares authorized The company sold 43,000 shares of common stock and 3,600 shares of preferred stock. During the year, the following selected transactions were completed in the order given: Required: 1. Rogers declared and paid dividends in the amount of $16,000. How much was paid to the holders of preferred stock? How...
Mar May 22 Purchased 1,500 shares of treasury stock -common at $15 per share. Sep. 22 Sold 800 shares of treasury stock--common at $22 per share. Oct. 14 Sold 700 shares of treasury stock common at $8 per share. 4 Issued 26,000 shares of $1 par value common stock at $9 per share Print Done Stock transactions for Mr. Magoo Driving School, Inc. follow 6 (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits....
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Bonita Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 20,500 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $102,500 304,000 321,000 $727,500 During 2020, the following transactions occurred. Feb. 1 Bonita repurchased 1,950 shares of treasury stock at a price of $18 per share. Mar. 1 720 shares of treasury stock repurchased above were reissued at $16 per share. Mar. 18 520 shares of treasury stock...
Flounder Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,900 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94,500 306,000 317,000 $717,500 During 2020, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Flounder repurchased 1,900 shares of treasury stock at a price of $18 per share. 810 shares of treasury stock repurchased above were reissued at $16 per share. 470 shares of...
Marigold Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 18,200 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $91,000 299,000 320,000 $710,000 During 2017, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Marigold repurchased 1,990 shares of treasury stock at a price of $17 per share. 850 shares of treasury stock repurchased above were reissued at $15 per share. 530 shares of...
Surfing Dewd Corporation is authorized to issue both preferred and common stock. Surfing Dewd's preferred stock is $105 par, 6% preferred stock. During the first month of operations, the company engaged in the following transactions related to its stock. Show each of the following transactions in the accounting equation: March 1 Issued 16,000 shares of $0.50 par value common stock for cash at $5.00 per share Issued 1,500 shares of preferred stock at par March 11 Purchased 3,000 shares of...
Flounder Company had the following stockholders' equity as of January 1, 2017 Common stock, $5 par value, 21,000 shares issued $ 105,000 Paid in capital in excess of par common stock 207.000 Retained earnings 316.000 Total stockholders' equity $718,000 During 2017, the following transactions occurred. Feb. 1 Founder repurchased 1,960 shares of treasury stock at a price of $17 per share. Mar. 1 750 shares of treasury stock repurchased above were reissued at $15 per share. Mar. 18 510 shares...
Case A: The charter for Rogers, Incorporated, authorized the following stock: Common stock, $10 par value, 109,000 shares authorized Preferred stock (noncumulative), 9 percent, $8 par value, 4,600 shares authorized The company sold 43,000 shares of common stock and 3,600 shares of preferred stock. During the year, the following selected transactions were completed in the order given: Required: 1. Rogers declared and paid dividends in the amount of $16,000. How much was paid to the holders of preferred stock? How...
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