Italian Stallion has the following transactions during the year related to stockholders’ equity. February 1 Issues...
Italian Stallion has the following transactions during the year related to stockholders’ equity. February 1 Issues 4,700 shares of no-par common stock for $16 per share. May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Homework Answers
Journal Entries
| Date | General Journal | Debit | Credit |
| Feb-01 | Cash | $75,200 | |
| Common Stock | $75,200 | ||
| May-15 | Cash | $3,900 | |
| Preferred Stock | $3,000 | ||
| Securities Premium | $900 | ||
| Oct-01 | Retained Earnings | $300 | |
| Dividend Payable | $300 | ||
| Oct-15 | No entry is Made on the Date of Record | ||
| Oct-31 | Dividend Payable | $300 | |
| Cash | $300 | ||
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Italian Stallion has the following transactions during the year
related to stockholders’ equity. February 1 Issues...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues 5,800 shares of no-par common stock for $14 per share. May 15 Issues 400 shares of $10 par value, 11.5% preferred stock for $11 per share. October 1 Declares a cash dividend of $1.15 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 I...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 I S 5,600 shares of no-par common stock for $15 per share May 15 Issues 400 shares of $10 par value, 10.5% preferred stock for $12 per share October 1 Declares a cash dividend of 51 05 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues 5,500 shares of no-par common stock for $14 per share. May 15 Issues 600 shares of $10 par value, 10% preferred stock for $11 per share. October 1 Declares a cash dividend of $1.00 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700 shares of no-par common stock for $16 per share. February May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
1. 2. 3. 4. February 1 Issues 4,200 shares of no-par common stock for $15 per...
1.
2.
3.
4.
February 1 Issues 4,200 shares of no-par common stock for $15 per share. May 15 Issues 200 shares of $10 par value, 3.5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.35 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Journal entry worksheet 2 3 4 5 Record the issuance...
The stockholders’ equity accounts of Marigold Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Marigold Corp. on January
1, 2017, were as follows.
Preferred Stock (8%, $100 par noncumulative, 4,700 shares
authorized)
$282,000
Common Stock ($4 stated value, 325,000 shares authorized)
1,083,333
Paid-in Capital in Excess of Par Value—Preferred Stock
14,100
Paid-in Capital in Excess of Stated Value—Common Stock
520,000
Retained Earnings
701,000
Treasury Stock (4,700 common shares)
37,600
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,150 shares...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as follows: Common Stock. $1 par value; 1,500,000 shares issued and outstanding $ 1,500,000 Paid-in Capital in Excess of Par Common Stock 3,750,000 Preferred Stock, 5%, $50 par, cumulative, 20,000 shares issued and outstanding 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 1,250,000 Part A: On the next pages, record the journal entries for the events that occurred on the following dates during 2020. I...
Halborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.)...
Halborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.) Read the resirements Requirement 1. Record the transactions in Halbom's general journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash dividend on the 5%, $95...
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The stockholders’ equity accounts of Crane Company on January 1,
2022, were as follows.Preferred Stock (8%, $100 par noncumulative, 5,000 shares
authorized)$350,000Common Stock ($10 stated value, 800,000 shares authorized)1,400,000Paid-in Capital in Excess of Par Value—Preferred Stock50,000Paid-in Capital in Excess of Stated Value —Common Stock800,000Retained Earnings740,000Treasury Stock (7,000 common shares)56,000During 2022, the corporation had the following transactions and
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Clearbom Manufacturing Co. completed the following transactions during 2018: i (Click the icon to view the...
Clearbom Manufacturing Co. completed the following transactions during 2018: i (Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in Clearborn's general Journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table. I no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank) Jan 16: Declared a cash dividend on the 4%,...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues 5,800 shares of no-par common stock for $14 per share. May 15 Issues 400 shares of $10 par value, 11.5% preferred stock for $11 per share. October 1 Declares a cash dividend of $1.15 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 I S 5,600 shares of no-par common stock for $15 per share May 15 Issues 400 shares of $10 par value, 10.5% preferred stock for $12 per share October 1 Declares a cash dividend of 51 05 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October...
Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues 5,500 shares of no-par common stock for $14 per share. May 15 Issues 600 shares of $10 par value, 10% preferred stock for $11 per share. October 1 Declares a cash dividend of $1.00 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700 shares of no-par common stock for $16 per share. February May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
1.
2.
3.
4.
February 1 Issues 4,200 shares of no-par common stock for $15 per share. May 15 Issues 200 shares of $10 par value, 3.5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.35 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Journal entry worksheet 2 3 4 5 Record the issuance...
The stockholders’ equity accounts of Marigold Corp. on January
1, 2017, were as follows.
Preferred Stock (8%, $100 par noncumulative, 4,700 shares
authorized)
$282,000
Common Stock ($4 stated value, 325,000 shares authorized)
1,083,333
Paid-in Capital in Excess of Par Value—Preferred Stock
14,100
Paid-in Capital in Excess of Stated Value—Common Stock
520,000
Retained Earnings
701,000
Treasury Stock (4,700 common shares)
37,600
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,150 shares...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as follows: Common Stock. $1 par value; 1,500,000 shares issued and outstanding $ 1,500,000 Paid-in Capital in Excess of Par Common Stock 3,750,000 Preferred Stock, 5%, $50 par, cumulative, 20,000 shares issued and outstanding 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 1,250,000 Part A: On the next pages, record the journal entries for the events that occurred on the following dates during 2020. I...
Halborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.) Read the resirements Requirement 1. Record the transactions in Halbom's general journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash dividend on the 5%, $95...
The stockholders’ equity accounts of Crane Company on January 1,
2022, were as follows.Preferred Stock (8%, $100 par noncumulative, 5,000 shares
authorized)$350,000Common Stock ($10 stated value, 800,000 shares authorized)1,400,000Paid-in Capital in Excess of Par Value—Preferred Stock50,000Paid-in Capital in Excess of Stated Value —Common Stock800,000Retained Earnings740,000Treasury Stock (7,000 common shares)56,000During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.Mar1Issued 6,000 shares of common stock for $80 per share.June22Purchased 1,000 additional shares of common treasury stock at...
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