X 回 Prepare journal entries to record the following transactions. Descriptions are not required but please label the date for each one. January 10 - Issued 1,000 shares of $10 par common stock at $56 for cash. DR CR Date Account January 22 - Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. Date Account DR CR April 1- Purchased 100 shares of treasury stock at $25. Date Account DR CR June 8 - Sold the 100 shares of treasury stock (purchased April 1) at $30. Date Account DR AMDO PRIESVING 1080p CR hp

X 回 Prepare journal entries to record the following transactions. Descriptions are not required but please label the date for each one. January 10 - Issued 1,000 shares of $10 par common stock at $56 for cash. DR CR Date Account January 22 - Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. Date Account DR CR April 1- Purchased 100 shares of treasury stock at $25. Date Account DR CR June 8 - Sold the 100 shares of treasury stock (purchased April 1) at $30. Date Account DR AMDO PRIESVING 1080p CR hp

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

please help with journal entries 1-Jan Issued 15,000 shares of $20 par common stock of $30, receiving cash 1-Jan Issued 4,000 shares of $80 par preferred 5% stock at $100. receiving cash 1-Jan Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually 1-Apr Declared a quarterly dividend of $.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. 10-Apr Paid the cash dividends declared 1-May Purchased 8,000 shares of treasury common stock at $33 per share. 1-Jul Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. 10-Jul Paid the cash dividends to the preferred stockholders 1-Aug Sold, at $38 per share, 2,600 shares of treasury common stock purchased 10-Oct Recorded the payment of…
Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Feb. 27 b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? →
have finished the journal entries still need T-accounts and balance sheet
How do i do EX 12-22?
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
Help
Please do not give solution in image format thanku
Feb 25 Declared a 2.50 per share cash dividend on 20,000 shares of common stock outstanding Mar. 20 Paid the cash dividends declared on Feb. 25, Dec. 31 Closed the 72,000 credit balance in Income Summary that reflects net income to Retained Earnings (a) Prepare the journal entries for these transactions. (b) If Retained Earnings had a 155,000 credit balance on January 1, calculate its year-end balance as of December 31
Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $26 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $41 per share. Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share. a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
Oct. 2 Issued 24,000 shares of common stock for a building with a market value of $130,000. Oct. 6 Issued 550 shares of preferred stock for $160 per share. Oct. 9 Issued 18,000 shares of common stock for cash of $90,000. Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Oct. 10 Oct. 25 Paid the cash dividend. Assume B- Mobile's net income for the month was $92,000.
Issued 10,000 shares of preferred stock at par value 0.40, as payment in exchange for legal services . Prepare the journal entries with narrations
answer in text form please (without image), Note: .Every entry should have narration please