A corporation issues 6,000 shares of $5 par value commonstock for $8 cash per share. The entry to record this transactionincludesa. A debit to Paid-In Capital in Excess of Par Value for$18,000.b. A credit to Common Stock for $48,000.c. A credit to Paid-In Capital in Excess of Par Value for$30,000.d. A credit to Cash for $48,000.e. A credit to Common Stock for $30,000.

Q: If Company issues 3,000 shares of $8 par common stock for $51,000, a. Common Stock will be credited…

A: To record issue of common stock for cash, As cash is received, therefore same will be debited;…

Q: A corporation issues 1,500 shares of common stock for $32,000. The stock has a par value of $10 per…

A: Company may raise capital or funds from the issue of common stock or preference stock. When these…

Q: a. Issued 1,000 shares of $10 par common stock at $59 for cash. b. Issued 1,400 shares of $10 par…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par…

A: Lets understand the basics.As per balance sheet equation, total assets is always equal to total of…

Q: The charter of a corporation provides for the issuance of 91,724 shares of common stock. Assume that…

A: When shares are reacquired, the dividends are not required to be paid on such stocks.

Q: 1,000 shares of common stock with a par value of $5 is sold for $8. Which of the following is…

A: Journal entries are the building blocks of accounting, which is the act of recording the economic or…

Q: Nexis Corp. issues 2,470 shares of $12 par value common stock at $17 per share. When the transaction…

A: A company can issue its common stock at Par, discount or at premium. When a stock is issued at…

Q: The charter of a corporation provides for the issuance of 95,106 shares of common stock. Assume that…

A: The 3,554 shares reacquired are called treasury shares. Treasury shares are not entitled to…

Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…

A: Issue of common stock is one of the ways in which the companies can raise funds for financing the…

Q: A corporation originally issued $6 par value common stock for $11 per share. It purchased the stock…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: If Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: On January 20, HK Corporation was formed with the capital of 100.000 TL by issuing 100.000 shares of…

A: Given that: Shares issued = 100,000 Value at which shares issued = 121,000 Commission = 1000 When…

Q: 16) A corporation originally issued $15 par value common stock for $17 per share. Which of the…

A: The journal entries are prepared to record the transactions on a regular basis. The treasury stock…

Q: Badger Corporation issued 9,000 shares of its $5 par value common stock in payment for attorney…

A: Paid-in Capital in Excess of Par = Attorney services  bill value - Par Value of Common stock.

Q: The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume…

A: Formula: Total dividends = Number of Outstanding shares x Dividend per share

Q: The charter of a corporation provides for the issuance of 99,000 shares of common stock. Assume that…

A: Dividends: Distribution of company profits to their share holders based on their investments.

Q: The charter of a corporation provides for the issuance of 105,588 shares of common stock. Assume…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: What is the effect on the corporation's revenue of the period? What is the effect on stockholders'…

A: Treasury Stock:   Treasury stock refers to the stock that a company repurchases its own issued stock…

Q: 1. Journalize the following transactions: (a) Issued 1,000 shares of $10 par common stock at $59 for…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: What is included in the journal entry to record the repurchase of 300 common shares to hold them in…

A: Treasury shares are the shares which are repurchased by the entity from the market which are…

Q: tock for 35,000 cash 2. A corporation issued 2,000 shares of par common stock to its promotors in…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: The journal entry for the issuance of 150 shares of $5 par common stock at par to an attorney in…

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

Q: The charter of a corporation provides for the issuance of 95,735 shares of common stock. Assume that…

A: Formulas: Cash dividend = Out standing shares * Dividend per share Cash dividend =(Shares issued -…

Q: The charter of a corporation provides for the issuance of 114,615 shares of common stock. Assume…

A: Note: Dividend is paid on the number of shares issued and outstanding. Number of shares issued and…

Q: Alma Corp. issues 1,000 shares of $10 par common stock at $14 per share. When the transaction is…

A: Journal Entry: Journal entry is the initial process of tracking transactions in the books of a…

Q: The charter of a corporation provides for the issuance of 113,026 shares of common stock. Assume…

A: Dividends are paid on the Shares outstanding, not on shares issued. Shares outstanding = 37,231 -…

Q: The charter of a corporation provides for the issuance of 104,571 shares of common stock. Assume…

A: Cash dividends: The amount of cash provided by a corporation out of its distributable profits to its…

Q: If a corporation issues 6,000 shares of $5 par value common stock for $89,000, the journal entry…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 6000 x $5 =…

Q: The charter of a corporation provides for the issuance of 95,000 shares of common stock. Assume that…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: The charter of a corporation provides for the issuance of 106,635 shares of common stock. Assume…

A: The objective of the question is to calculate the total amount of cash dividends to be paid by the…

Q: A corporation purchases 8,002 shares of its own $10 par common stock for $15 per share, recording it…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: The charter of a corporation provides for the issuance of 94,546 shares of common stock. Assume that…

A: Dividend is paid on the shares outstanding. Shares outstanding = 41,432 - 3,112 = 38,320 shares

Q: Use the following information for #4 - 5: Motown Corporation has the following transactions: Common…

A: Equity shares holders fund includes common share capital, paid up capital in excess of par value,…

Q: The charter of a corporation provides for the issuance of 115,494 shares of common stock. Assume…

A: Lets understand the basics.When share is repurchased after issuance of shares then shares are known…

Q: Alma Corp. issues 1,040 shares of $9 par common stock at $15 per share. When the transaction is…

A: When Common stock is issued at premium the additional amount received in Excess of Par is credited…

Q: Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated…

A:

Q: A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share.…

A: Common Stock - Common Stock is the stock issued to the common shareholder's of the company.

Q: The charter of a corporation provides for the issuance of 105,000 shares of common stock. Assume…

A: Given that,  number of shares originally issued = 63000 shares number of shares reacquired = 12600

Q: The charter of a corporation provides for the issuance of 93,872 shares of common stock. Assume that…

A: Dividend will not be paid on reacquired shares.

Q: The charter of a corporation provides for the issuance of 106,898 shares of common stock. Assume…

A: No. of shares issued ansd outstanding = No. of shares originally issued - No. of shares reacquired =…

Q: If Dakota Company issues 3,000 shares of $9 par common stock for $45,000, a.Paid-In Capital in…

A: Paid-up capital is that part of capital which is paid by the shareholders. The capital is raised…

Q: A corporation issued 250 shares of its $5 par value common stock in payment of a $3,300 charge from…

A: The journal entry is an basic accounting record which is used to chronologically track the financial…

Q: A corporation has a stock option plan it awards to its executives. On January 1, Year 5, the board…

A: Stock option means where the shares are issued to company employee or executives at less than the…

Q: Question 3.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated…

A: Given share issued=2500   when share are issues we get cash so debit cash account and credit to…

Q: A corporation purchases 9,515 shares of its own $10 par common stock for $18 per share, recording it…

A: When a corporation purchases its own shares, those reacquired shares are called Treasury shares.…