Pringle Corporation has been authorized to issue 20,000 shares of $100 par value, 7%, noncumulative preferred...
Pringle Corporation has been authorized to issue 20,000 shares
of $100 par value, 7%, noncumulative preferred stock and 1,000,000
shares of no-par common stock.
The corporation assigned a $5 stated value to the common stock. At
December 31, 2014, the ledger contained the following balances
pertaining to stockholders
Homework Answers
1) Cash A/c Dr 170000
To Securities Premium A/c 20000
To prefered Stock Capital A/c 150000
(Being prffered stock issued for cash at a premium)
2) Cash A/c Dr 2000,000
To Common Stock Capital A/c 2000,000
(Being Common stock issued for cash)
3) Treasury Stock A/c Dr 36000
To cash 36000
(BEing treasuries Repurchased @ $9 per share)
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Pringle Corporation has been authorized to issue 20,000 shares
of $100 par value, 7%, noncumulative preferred...
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Swifty Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock...
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of $100 par value, 10%, preferred stock and 1,068,600 shares of
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to the common stock. At December 31, 2020, the ledger contained the
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Preferred Stock
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