#20

When a company issues 27,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include:   Multiple Choice   A credit to Common Stock for $1,350,000.   A credit to Additional Paid-in Capital for $1,215,000.   A debit to Additional Paid-in Capital for $135,000.   A debit to Cash for $135,000.

When a company issues 36,000 shares of $4 par value common stock for $40 per share, the journal entry for this issuance would include:   Multiple Choice   A credit to Additional Paid-in Capital for $1,296,000.   A debit to Cash for $144,000.   A credit to Common Stock for $1,440,000.   A debit to Additional Paid-in Capital for $144,000.

Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal entry to record the stock issue would include which of the following?

Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. The company then resells 400 of these shares for $20 per share. Which of the following is recorded at the time of the resale? a. Credit Common Stock for $400. b. Credit Treasury Stock for $8,000. c. Credit Common Stock for $8,000. d. Credit Additional Paid-In Capital for $1,600.

Torres Inc. issues 40,000 shares of its $0.05 par value common stock for $70 per share. The journal entry to record the stock issuance will include a: Debit to Common Stock of $2,000. Credit to Common Stock of $2,800,000. Credit to Cash of $2,800,000. Credit to Additional Paid in Capital of $2,798,000.

A company issues  1 million shares of common stock with a par value of $0.18 for $16.60 a share. The entry to record this transaction includes a debit to Cash for: Multiple Choice   $16,600,000, a credit to Common Stock for $180,000, and a credit to Additional Paid-in Capital for $16,420,000.   $16,600,000 and a credit to Common Stock for $16,600,000.   $180,000, a debit to Capital Receivable for $16,420,000, a credit to Common Stock for $180,000, and a credit to Additional Paid-in Capital for $16,420,000.   $180,000 and a credit to Common Stock for $180,000.

If Dakota Company issues 3,200 shares of $10 par common stock for $57,600, Oa. Cash will be debited for $32,000. Ob. Paid-in Capital in excess of Par Value will be credited for $32,000. Oc. Common Stock will be credited for $57,600. Od. Paid-in Capital in excess of Par Value will be credited for $25,600.

If Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited for $6,600. b.Common Stock will be credited for $24,200. c.Paid-In Capital in Excess of Par will be credited for $17,600. d.Paid-In Capital in Excess of Par will be credited for $6,600.

A company receives a subscription for 4,000 shares of $1 par value common stock at $10 per share. The journal entry for this transaction would include a debit to   Question 2 options:   Common Stock Subscriptions Receivable, $40,000.   Common Stock Subscribed, $40,000.   Common Stock, $40,000.   Premium on Common Stock, $40,000.

A company sold 10,000 shares of its own $1 par value common stock for $60,000. The entry to record the sale would include a Group of answer choices credit to common stock, $1 par value for $60,000 debit to contributed capital for $10,000. credit to common stock, $1 par value for $10,000. debit to treasury stock for $60,000.

If Norben Company issues 4,000 shares of $5 par value common stock for $140,000, the account Common Stock will be credited for $140,000. Paid-in Capital in Excess of Par Value will be credited for $20,000. Paid-in Capital in Excess of Par Value will be credited for $120,000. Cash will be debited for $120,000.

Lily Company issues 5,000 shares of its $2 common stock when the market price is $5 per share. The journal entry to record this will include a: debit to Common Stock of $10,000   debit to Cash for $10,000   credit to Additional Paid-in Capital in excess of par (APIC) of $10,000   credit to Additional Paid-in Capital in excess of par (APIC) of $15,000

Nebraska Inc. issues 5,000 shares of common stock for $160,000. The stock has a stated value of $12 per share. The entry to journalize the stock issuance would include a credit to Common Stock for Oa. $5,000 Ob. $60,000 Oc. $160,000 Od. $100,000 Other

XYZ Company issues 5000 shares of stock for $30/share. The stock has a par value of $5/share. The journal entry to record this issuance would include: O A credit to common stock of $5,000 O A credit to common stock of $125,000 O A credit to common stock of $25,000 O A credit to common stock of $150,000

On October 1, 2021, 500 shares of treasury stock were purchased at $40 per share. On January 15, 2022, those shares were resold to outsiders for $46 per share. The resulting journal entry on January 15th would include: Multiple Choice a credit to Gain on Sale of Stock for $3,000. a credit to Paid-in capital-excess of par for $3,000. a credit to Treasury Stock for $23,000. a credit to Cash for $23,000.

Entity H issued 9,000 shares of its $1 par value common stock for $20 per share.  Which of the following statements is correct?  Hint: Make the journal entry first.   Common stock should be credited for $180,000.   Cash should be credited for $180,000.   Paid-in-capital-in-excess-of-par-value should be debited for $171,000.   Common stock should be credited for $9,000.

The Snow Corporation issues 9,900 shares of $54 par value preferred stock for cash at $62 per share. The entry to record the transaction will consist of a debit to Cash for $613,800. What credit or credits will the entry consist of? Select the correct answer. Preferred Stock for $534,600 and Retained Earnings for $79,200. Preferred Stock for $613,800. Paid-in Capital from Preferred Stock for $613,800. Preferred stock for $534,600 and Paid-in Capital in Excess of Par Value - Preferred Stock for $79,200.

A company issues 500 shares of $10 par value common stock and 200 shares of $100 par value preferred stock for a lump sum of $236,000. At the issuance, the market price of the common shares is $80 each and market price of the preferred is $300 each. In the journal entry to record the issuance, how much should be recorded for Paid-in Capital in Excess of Par – Common Stock?

A company issued 50 shares of $100 par value common stock for $7,400 cash. The Journal entry to record the issuance is: Multiple Choice Debit Cash $7,400, credit Paid-in Capital in Excess of Par Value, Common Stock $5,000, credit Common Stock $2.400. Debit Common Stock $5,000, debit Investment in Common Stock $2,400, credit Cash $7,400. Debit Cash $7,400; credit Common Stock $7,400. Debit Investment in Common Stock $7,400; credit Cash $7,400 Debit Cash $7,400, credit Common Stock $5,000, credit Paid-in Capital in Excess of Par Value, Common Stock $2,400

Nebraska Inc. issues 2,350 shares of common stock for $75,200. The stock has a stated value of $13 per share. The journal entry to record the stock issuance would include a credit to Common Stock for a.$75,200b.$44,650c.$2,350d.$30,550