Badger Corporation issued 9,000 shares of its $5 par value common stock in payment for attorney services billed at $108,000. Badger Corporation's stock has been actively trading $12 per share. The Journal entry for this transaction would include a: A. Debit to Legal Expense $108,000.  B. Debit to Legal Expense $45,000. C. Credit to Paid-in Capital in Excess of Par - Common $108,000 D. Credit to Common Stock $63,000

Q: Lily Company issues 5,000 shares of its $2 common stock when the market price is $5 per share. The…

A: Journal entry is the procedure for initially documenting commercial transactions in the books of…

Q: Account Titles and Explanation Debit Credit Choose a transaction date…

A: Journal entry: Journal entry is a set of economic events which can be measured in financial terms.…

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

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A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

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

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A: Issuance of Common Stock -When the company issues shares to the ordinary shareholders, the amounts…

Q: 7. Treasury stock that had been purchased for $5.600 last month was reissued this month for $8,500.…

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Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

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

A: The journal entries are prepared to record the transactions on regular basis. The shares issued at…

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A: The issuance of common stock would affect the common stock and the cash received would increase the…

Q: On October 31, Legacy Rocks Ic., a marble contractor, issued for cash 74,600 shares of $10 par…

A: a.

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

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Q: Alma Corp. issues 2,150 shares of $9 par common stock at $15 per share. When the transaction is…

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Q: Treasury stock that had been purchased for $3,908 last month was reissued this month for $5,262. The…

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Q: On January 1, Marigold Corporation had 120000 shares of $10 par value common stock outstanding. On…

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Q: Quickbux Co. issued and sold 1,000 shares of common stock, with a par value of $5, for $12 per…

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Q: If Dakota Company issues 3,200 shares of $10 par common stock for $57,600, Oa. Cash will be debited…

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Q: edit to Additional Paid in Capital $40,000. bit to Legal Expense $40,000. ebit to Legal Expense…

A: The journal entry for the transaction would debit legal expense and credit common stock and…

Q: If Norben Company issues 4,000 shares of $5 par value common stock for $140,000, the account Common…

A: Paid-in Capital in Excess of Par represents the amount investors pay for shares above their nominal…

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

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Q: Nebraska Inc. issues 2,300 shares of common stock for $73,600. The stock has a stated value of $12…

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Q: Vaughn Corporation sold 390 shares of treasury stock for $55 per share. The cost for the shares was…

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Q: 5,000 shares of common stock for $16 t to Common Stock for $5.000

A: Answer : Issue share =5000 Stated Value per share = $12 Value of common stock = No. of common share…

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A: Treasury stocks are the stocks which the company buys back from the already issued  stocks  from the…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.