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…

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 >

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 >

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

See similar textbooks

Similar questions

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 4,000 shares of $10 par value common stock for $48,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $2 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. 4. A corporation issued 1,000 shares of $75 par value preferred stock for $110,500 cash. xercise 11-4 (Algo) Recording stock issuances LO P1 repare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet
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 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $100 par value preferred stock for $254,000 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock.
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 10,000 shares of $10 par value common stock for $120,000 cash. 2. A corporation Issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $1 per share stated value. 3. A corporation Issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. 4. A corporation Issued 2,500 shares of $75 par value preferred stock for $223,000 cash. ercise 13-4 (Algo) Recording stock issuances LO P1 pare journal entries to record each of the following four separate Issuances of stock. View transaction list A Record the issue of 10,000 shares of $10 par value common stock for $120,000 cash. B Record the issue of…
Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $20 par value common stock for $48,000 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 $32,500. 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 $32,500. The stock has no stated value. 4. A corporation issued 500 shares of $100 par value preferred stock for $82,500 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. Cash 1. 2. 2. 2. 3. 3. 4. st 4. Assets = (+) increase 480,000 = = = Liabilities + Common Stock, $20 Par V + + + + + + +
Required information [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 $47,500. The stock has a $5 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 $47,500. The stock has no stated value. 4. A corporation issued 500 shares of $75 par value preferred stock for $85,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. i View transaction list View journal entry worksheet No A Transaction General Journal Cash Common stock, $10 par value Paid-in capital in excess of stated value, common stock Debit 24,000 Credit 20,000 4,000 Ⓒ
Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash. are journal entries to record each of the following four separate issuances of stock. ew transaction list Journal entry worksheet < A B C D Record the issue of 4,000 shares of $5 par value common stock for $35,000 cash. Note: Enter debits before credits.
Required information [The following information applies to the questions displayed below.) Following are the issuances of stock transactions. 1. A corporation issued 10,000 shares of $30 par value common stock for $360,000 cash. 2. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23.500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23,500. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $86,000 cash. Analyze each transaction from Issuances of stock by showing its effect on the accounting equation-specifically, Identify the accounts and amounts (including + or -) for each transaction. Assets 1. Common Stock, $30 Par Value(-) decrease 1. 2. 2. 2. 3. 3. 4. 4. Liabilities + Equity
can someone help me answer this homework question asap please
s
Prepare journal entries to record each of the following four separate issuances of stock.
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
ed es Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash. Prepare journal entries to record each of the following four separate issuances of stock.