Oct. 1 +Dec. 15CashContributed SurplusCashCommon SharesCommon SharesContributed SurplusRetained EarningsCash922552920417602436922557120 Sarasota Ltd. was incorporated on January 1, 2024. During the year the company entered into the following transactions:Jan. 5 Issued 58,000 common shares for $2.50 per share.Jan. 20 Issued 3,000 common shares to settle legal expenses. The value of the legal expenses was $9,940.Feb. 10 Issued 15,000 preferred shares for $35.00 per share.Aug. 12 Repurchased 17,400 common shares for $2.40 per share.Oct.1 Issued 4,100 common shares for $2.25 per share.Dec. 15 Repurchased 21,000 common shares for $2.72 per share.Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indentmanually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Record journal entriesin the order presented in the problem. List all debit entries before credit entries. Round per share calculations to 2 decimalplaces, e.g. 5.75 and final answers to 0 decimal places, e.g. 5,275.)DateJan, 5Jan 20 #Account TitlesCashCommon SharesLegal ExpenseCommon SharesDebit1450009940CreditIII1450009940

Journal entries for shares : Common shares are issued to business owners and other investors as…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Your answer is partially correct. On January 1, 2026, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 June 1 June 30 Dec. 1 Dec. 15 Issued 90,000 shares of common stock for $675,000. Declared a cash dividend of $2.00 per share to stockholders of record on June 15. Paid the $2.00 cash dividend. Purchased 5,000 shares of common stock for the treasury for $18 per share. Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Indicate the accounts increased or decreased to record the above transactions.
How do Dividends Paid impact Avett Inc.'s 2020 Statement of Cash Flows? Question 18 options: Dividends Paid are subtracted in Cash Flows from Investing Dividends Paid are added in Cash Flows from Investing Dividends Paid are not included on the Statement of Cash Flows Dividends Paid are subtracted in Cash Flows from Operations Dividends Paid are added in Cash Flows from Financing Dividends Paid are added in Cash Flows from Operations Dividends Paid are subtracted in Cash Flows from Financing
Subject :- Accounting
q17
can you please help me with sep 30 entry
I need the right numbers for the square in red thank you
1. The business was started when the company received $50,000 from the issue of common stock. 2 Purchased equipment inventory of $380,000 on account. 3. Sold equipment for $510,000 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $330.000. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 2 percent of sales. 5. Paid the sales tax to the state agency on $400.000 of the sales. 6. On September 1, Year 1, borrowed $0,000 from the local bank. The note had a 4 percent interest rate and matured on March 1. Year 2. 7. Paid $6.200 for warranty repairs during the year. 8. Paid operating expenses of $78,000 for the year. 9. Paid $250,000 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Requlred a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet,…
prepare statement of cash flow for indirect only
Based on the following data and assuming that the common stock account balance is $63000, what is the balance in retained earnings? Accounts payable $88000 Accounts receivable 51000 Cash 87000 Inventory 155000 Buildings 166000 Bonds payable 517000 Supplies 10300 Notes payable 66000 Equipment 351000 $149300 $240300 $86300 $174300
On 30 April 20X2, Marc Company purchased 4,800 shares of Spencer Ltd. for $29 per share plus $480 in commission. In 20X2, the company received a $0.80 per share dividend, and the shares had a fair value of $24 per share at the end of the year. In 20X3, the dividend was $1.60 per share, and the fair value was $33 per share at the end of the year. In 20X4, the shares were sold for $32 per share less a $600 commission. Required: 1. Show the amounts and accounts that would be reported in earnings and the statement of financial position for 20X2, 20X3, and 20X4 if the company uses the: (Negative amounts should be indicated by minus sign.) a. Cost method. Earnings Dividend revenue Fees and commissions Gain on sale Statement of financial position Investment OCI: Holding gain/(loss) S S $ 20x2 20X3 3,849 $ 7,680 0 $ 0 S 0 0 0 $ 139,680 $ 139,680 $ 0 $ S $ 20X4 0 0 14,520 X 0 0
Do not give image format Please help with #3 and #6.
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Cash Contributed Surplus Cash Common Shares Common Shares Contributed Surplus Retained Earnings Cash 9225 52920