a. Journalize the following transactions:i. January 10. Received cash from three incorporators for 75,000 shares of commonstock, $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 StockJanuary 10. Received a subscription from Amory Lin for 10,000 shares of commonstock, $50,000.00. M1.Total Amount of DividendsJanuary 15. Received cash for the face value of a 5-year, 10%, $1,000.00 par valuebond issue, $50,000.00. R11.January 25. Received a subscription from Peter Lavine for 8,000 shares of commonstock, $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 pershare. 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 250,000 shares of common stock and20,000 shares of preferred stock. On November 15, the board of directors voted to declaredividends of $200,000.00. Calculate the total amount of dividends for preferred and commonstock.March 20. Issued Stock Certificate No. 34 to Amory Lin for 10,000 shares of commonstock, $50,000.00. M3.Number of Preferred SharesX Par ValueX Preferred Dividend Rate- Preferred Dividends Amount= Value of Preferred Stock= Preferred Dividend Amount= Common Dividend Amount

A journal entry is the process of recording or maintaining track of any financial or non-financial…

Answered: a. Journalize the following…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section: Chapter Questions

Problem 3AP

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On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet < 1 On January 2, Carlton, Inc., Issued 100 shares of $10 par value common stock for cash of $10 per share. I Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2
31. Closed the credit balance of the income summary account, $269,400. 2. Journalize the entries to record the transactions, and post to the eight selected Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. listed. Also prepare T accounts for the following: Paid-In Capital from Sale cf July 1. Declared a 4% stock dividend on common stock, to be capitalized at the 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts FROBLEM 12-4B Btries for selected oporate transactions Objectives 4, 5, 7, 8 Shoshone Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Shoshone Enterprises Inc., with balances on January 1, 2006, are as follows: Common Stock, $20 stated value (100,000 shares authorized, 75,000 shares issued) Paid-In Capital in Excess of Stated Value Retained Earnings.. Treasury Stock (5,000 shares, at cost) $1,500,000 180,000 725,000 140,000 ADNET ASS The following selected transactions occurred…
On January 2, Carlton, Incorporated, issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date Jan. 2 Cash Common stock General Journal Debit Credit
Question. 2
Hh1.
Nov. 12 Declared total cash dividend of $45,000 for stockholders of record November 20 payable on December 1. Required a. Record the journal entries on the above dates b. Briefly describe the significance of November 20
Nov. 12 Declared total cash dividend of $45,000 for stockholders of record November 20 payable on December 1. Required Record the journal entries on the above dates b. Briefly describe the significance of November 20 а.
Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock. Indicate the accounts that should be recorded in the Description column of the Journal item (2) as the credit accounts and for what amounts assuming that Sunshine Corp. received cash for the issuance of 10,000 shares of common stock at $30. JOURNAL Date Description P.Ref DEBIT CREDIT Jan. 1 (1) $300,000 (2) ? (2) ? Group of answer choices Common Stock credit of $300,000 and Cash credit of $50,000 Treasury Stock credit of $250,000 and Cash credit of $50,000 Common Stock credit of $250,000 and Paid-In Capital in Excess Par - Common Stock credit of $50,000 Common Stock credit of $300,000 and Treasury Stock credit of $50,000
oo.17. Subject :- Account
Issued 5,000 shares of $1 par common stock for $50,000 cash. Record thetransaction.

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