Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares (originally issued at $75 per share) at a call price of $80 per share. Required: Record the journal entry for the call of this preferred stock. Record the journal entry for the call of this preferred stock on December 31.
Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares (originally issued at $75 per share) at a call price of $80 per share. Required: Record the journal entry for the call of this preferred stock. Record the journal entry for the call of this preferred stock on December 31.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock . The corporation called 35% of the shares (originally issued at $75 per share) at a call price of $80 per share.
Required:
Record the |
Record the journal entry for the call of this preferred stock on December 31.
General Journal Instructions
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GENERAL JOURNAL
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Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares (originally issued at $75 per share) at a call price of $80 per share.
Required:
Record the journal entry for the call of this preferred stock. |
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Chart of Accounts
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baltimore Bike | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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General Journal
Record the journal entry for the call of this preferred stock on December 31.
General Journal Instructions
PAGE 1
GENERAL JOURNAL
DATE | ACCOUNT TITLE | POST. REF. | DEBIT | CREDIT | |
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Baltimore Bike had outstanding 12,000 shares of $50 par callable preferred stock. The corporation called 35% of the shares (originally issued at $75 per share) at a call price of $80 per share.
Required:
Record the journal entry for the call of this preferred stock. |
X
Chart of Accounts
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baltimore Bike | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
X
General Journal
Record the journal entry for the call of this preferred stock on December 31.
General Journal Instructions
PAGE 1
GENERAL JOURNAL
DATE | ACCOUNT TITLE | POST. REF. | DEBIT | CREDIT | |
---|---|---|---|---|---|
1
|
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2
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3
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4
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CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baltimore Bike | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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