Splish Corporation issued 310 shares of $8 par value common stock for $3,720. Prepare Splish’s journal...
Splish Corporation issued 310 shares of $8 par value common
stock for $3,720.
Prepare Splish’s journal entry. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
|
|
|
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|
|
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Homework Answers
| Account titles and explanation | Debit | Credit |
| Cash | $3,720 | |
| Common stock (310*$8) | $2,480 | |
| Paid in capital in excess of par | 1,240 |
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Splish Corporation issued 310 shares of $8 par value common stock for $3,720. Prepare Splish’s journal...
Marin Corporation issued 180 shares of $12 par value common stock for $3,240. Prepare Marin’s journal...
Marin Corporation issued 180 shares of $12 par value common
stock for $3,240.
Prepare Marin’s journal entry. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
Account Titles and Explanation
Debit
Credit
Bramble Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No Entry"
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Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares...
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On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock for the treasury at a cash price of $10 per share Journalize the treasury stock transaction. Credit account titles are automatically indented when amount amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the Account Titles and Explanation Debit
Sheridan Corporation issued 368 shares of $10 par value common stock and 123 shares of $50...
Sheridan Corporation issued 368 shares of $10 par value common
stock and 123 shares of $50 par value preferred stock for a lump
sum of $16,587. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $90 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
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Credit account titles are automatically...
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stock and 112 shares of $50 par value preferred stock for a lump
sum of $15,678. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $100 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520.
Credit account titles are automatically...
Cheyenne Corporation issued 305 shares of $10 par value common stock and 134 shares of $50...
Cheyenne Corporation issued 305 shares of $10 par value common
stock and 134 shares of $50 par value preferred stock for a lump
sum of $16,344. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $90 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520.
Credit account titles are automatically...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a...
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Whispering Corporation issued 720 shares of no-par common stock for $8,000. Prepare Whispering’s journal entry if...
Whispering Corporation issued 720 shares of no-par common stock for $8,000. Prepare Whispering’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) enter an account title to...
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Marin Corporation issued 180 shares of $12 par value common
stock for $3,240.
Prepare Marin’s journal entry. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
Account Titles and Explanation
Debit
Credit
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No Entry"
for the account titles and...
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares of $100 par value preferred stock. The preferred stock was originally issued at $107 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...
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Sheridan Corporation issued 368 shares of $10 par value common
stock and 123 shares of $50 par value preferred stock for a lump
sum of $16,587. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $90 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520.
Credit account titles are automatically...
Pronghorn Corporation issued 311 shares of $10 par value common
stock and 112 shares of $50 par value preferred stock for a lump
sum of $15,678. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $100 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520.
Credit account titles are automatically...
Cheyenne Corporation issued 305 shares of $10 par value common
stock and 134 shares of $50 par value preferred stock for a lump
sum of $16,344. The common stock has a market price of $20 per
share, and the preferred stock has a market price of $90 per
share.
Prepare the journal entry to record the issuance.
(Round intermediate calculations to 6 decimal places,
e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520.
Credit account titles are automatically...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Cheyenne Corporation has...
Brief Exercise 16-3 Nash Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $61 per share. The common stock is trading at $26 per share at the time of conversion Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
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