AtytTransaction3BNote: Enter debits before credits.^CRecord the issue of 1,000 shares of no-par common stock to its promoters inexchange for their efforts, estimated to be worth $33,500. The stock has nostated value.DGeneral Journal< PrevDebit5 of 20 #CreditNext > Required informationUse the following information for Exercises 4-5 below. (Algo)[The following information applies to the questions displayed below.]Following are the issuances of stock transactions.1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash.2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimatedto be worth $33,500. The stock has a $3 per share stated value.3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimatedto be worth $33,500. The stock has no stated value.4. A corporation issued 500 shares of $50 par value preferred stock for $58,500 cash.Exercise 11-4 (Algo) Recording stock issuances LO P1Prepare journal entries to record each of the following four separate issuances of stock.Journal entry worksheetLi

The journal entries are prepared to record the transactions on regular basis. The stock with no par…

Answered: A B C Transaction 3 Record the issue of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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ABP signment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress=false Calculator Alliance Corp. issues 2,370 shares of $12 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $35,550. Common Stock $7,110 and Retained Earnings $28,440. Common Stock $28,440 and Paid-in Capital in Excess of Par Value $7,110. Common Stock $28,440 and Paid-in Capital in Excess of Stated Value $7,11o. 4:03 PM
Dividends and treasury stock еВook 5. PE.13.05A.BLANKSHEET Dec. 31 09,000pec. 31 DIVIuenu balance 14,879,000 6. PE.13.05B Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. If an amount box does not require an entry, leave it blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. 7. PE.13.06A I-Cards Inc. Statement of Stockholders' Equity 8. PE.13.06B For the Year Ended December 31, 20Y9 9. PE.13.07A.BLANKSHEET Common Paid-In Stock Capital in 10. PE.13.07B Treasury Retained $40 Par Excess of Par Stock Earnings Total 11. EX.13.13 Balance, Jan. 1, 20Y9 4,800,000 V 960,000 11,375,000 17,135,000 12. EX.13.14 Issued 30,000 shares of Common Stock 1,200,000 V 300,000 1,500,000 Purchased 12,000 shares as Treasury Stock -480,000 x -552,000 V 13. EX.13.15 Net Income 3,780,000 3,780,000 V 14. EX.13.17 Dividends -276,000 -276,000 6,000,000 -552,000 14,879,000 V Balance, Dec. 31, 20Y9 1,260,000 21,587,000 15. EX.13.18 16. EX.13.19 Feedback…
On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (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.) Date Account Titles and Explanation Debit Credit June 1
Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issuance of the preferred, shares. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
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Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $3 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $58,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Li
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TB EX Qu. 10-161 (Algo) Environmental Designs issues... Environmental Designs issues 4,000 shares of its $1 par value common stock at $18 per share. Required: 1. Record the issuance of the stock. 2. Record the issuance of the stock assuming it is no-par value stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
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a. Journalize the following transactions: i. January 10. Received cash from three incorporators for 75,000 shares of common stock, $375,000.00. R1-3. ii. iii. iv. V. vi. vii. viii. ix. January 10. Paid cash to Aaron Lovell as a reimbursement for organization costs, $10,000. C1. Value of Preferred Stock January 10. Received a subscription from Amory Lin for 10,000 shares of common stock, $50,000.00. M1. Total Amount of Dividends January 15. Received cash for the face value of a 5-year, 10%, $1,000.00 par value bond issue, $50,000.00. R11. January 25. Received a subscription from Peter Lavine for 8,000 shares of common stock, $40,000.00. M2. February 14. Received cash from Amory Lin in partial payment of stock subscription, $25,000. R4. March 15. Paid cash to Peter Lavine for 500 shares of common stock at $10.00 per share. C112. March 20. Received cash from Amory Lin in final payment of stock subscription, $25,000.00. R5. b. At the end of the year, Al-Can Products, Inc. had issued…

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A B C Transaction 3 Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. Note: Enter debits before credits. D General Journal < Prev Debit 5 of 20 ⠀ Credit Next >