Homework Answers
| Assets | = | Liabilities | + | Contributed Capital | + | Retained earnings | |||||||||
| $ | Account | $ | Account | $ | Account | $ | Account | ||||||||
| Mar-01 | 99750 | Cash | = | + | 1500 | Common stock | |||||||||
| = | + | 98250 | Paid in capital in excess of par-Common stock | ||||||||||||
| Apr-01 | 115000 | Cash | = | + | 95000 | Preferred Stcok | |||||||||
| = | + | 20000 | Paid in capital in excess of par-Preferred stock | ||||||||||||
| Jun-30 | -3000 | Cash | = | + | -3000 | Treasury Stock | |||||||||
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how how each of the following transactions affects the accounting equation: March 1 April 1 June...
1 Show how each of the following transactions affects the accounting equation: March 1 April 1 June 30 Issued 75,000 sha...
1
Show how each of the following transactions affects the accounting equation: March 1 April 1 June 30 Issued 75,000 shares of $0.02 par value common stock for cash of $99,750 Issued 1,000 shares of $95 par value preferred stock for cash at $115 per share Purchased 1,000 shares of treasury stock for $3.00 per share i.e., the company bought its own common stock in the stock market) Show how each transaction would affect the accounting equation. Some of the...
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...
III Surfing Dewd Corporation is authorized to issue both preferred and common stock. Surfing Dewd's preferred...
III
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 March 11 Issued 1,500 shares of preferred stock at par March 16 Purchased...
Western Corporation sells and issues 200 shares of its $2 par value common stock at $20...
Western Corporation sells and issues 200 shares of its $2 par value common stock at $20 per share. Show how this transaction would be recorded in the accounting equation. Show how this transaction would be recorded in the accounting equation. Some of the account names will be abbreviated. (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.) Shareholders' Equity Contributed Capital + Retained Earnings Assets Liabilities Account Account Account...
Concord Corp. completed the following transactions in 2014, the first year of operation: 1. Issued 16,000...
Concord Corp. completed the following transactions in 2014, the first year of operation: 1. Issued 16,000 shares of $18 par common stock for $27 per share. 2. Issued 6,200 shares of $54 par, 7 percent, preferred stock at $56 per share. 3. Paid the annual cash dividend to preferred shareholders. 4. Issued a 5 percent stock dividend on the common stock. The market value at the dividend declaration date was $36 per share. 5. Later that year, issued a 2-for-1...
Stockholders' Equity: Transactions and Balance Sheet Presentation Torey Corporation was organized on April 1, with an...
Stockholders' Equity: Transactions and Balance Sheet Presentation Torey Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Apr. 1 Issued 80,000 shares of common stock at $40 cash per share. Issued 2,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the 3 corporation. The...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Apr. 1 Issued 83,000 shares of common stock at $15 cash per share. 3 Issued 5,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The...
Enter each transaction into the accounting equation. Begin by entering transaction a. Then, enter each transaction...
Enter each transaction into the accounting equation. Begin by
entering transaction a. Then, enter each transaction in the order
they occurred. (Use parentheses or a minus sign when entering
account decreases. Use only the necessary input lines.)
i Transactions Marlene and Pamela opened up MP Public Relations Firm by contributing $22,750 on July 1, 2009, in exchange for common stock. The firm borrowed $15,000 from the bank on July 1 . The note is a 1-year, 10% note, with both...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, sS50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders equity occurred: Apr. 1 Issued B0,000 shares of common stack at 320 cash per share. 3Issued 2,000 shares of common stock to attorneys and promaters in exchange for their services in organizing the corporation. The services...
Show each of the following transactions in the accounting equation. Then, tell whether or not the...
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. a (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Chico Inc. paid its...
1
Show how each of the following transactions affects the accounting equation: March 1 April 1 June 30 Issued 75,000 shares of $0.02 par value common stock for cash of $99,750 Issued 1,000 shares of $95 par value preferred stock for cash at $115 per share Purchased 1,000 shares of treasury stock for $3.00 per share i.e., the company bought its own common stock in the stock market) Show how each transaction would affect the accounting equation. Some of the...
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...
III
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 March 11 Issued 1,500 shares of preferred stock at par March 16 Purchased...
Western Corporation sells and issues 200 shares of its $2 par value common stock at $20 per share. Show how this transaction would be recorded in the accounting equation. Show how this transaction would be recorded in the accounting equation. Some of the account names will be abbreviated. (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.) Shareholders' Equity Contributed Capital + Retained Earnings Assets Liabilities Account Account Account...
Stockholders' Equity: Transactions and Balance Sheet Presentation Torey Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Apr. 1 Issued 80,000 shares of common stock at $40 cash per share. Issued 2,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the 3 corporation. The...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Apr. 1 Issued 83,000 shares of common stock at $15 cash per share. 3 Issued 5,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The...
Enter each transaction into the accounting equation. Begin by
entering transaction a. Then, enter each transaction in the order
they occurred. (Use parentheses or a minus sign when entering
account decreases. Use only the necessary input lines.)
i Transactions Marlene and Pamela opened up MP Public Relations Firm by contributing $22,750 on July 1, 2009, in exchange for common stock. The firm borrowed $15,000 from the bank on July 1 . The note is a 1-year, 10% note, with both...
Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, sS50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders equity occurred: Apr. 1 Issued B0,000 shares of common stack at 320 cash per share. 3Issued 2,000 shares of common stock to attorneys and promaters in exchange for their services in organizing the corporation. The services...
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. a (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Chico Inc. paid its...
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