O10300000001LGOALGOALGOALGOALGOtycks hea mare contractod for cash 45,000 shares of $15 par cost $55, and on huary 27, for a130,000 shares of preferred stock, 15 perataanuary 4, AlterI an amount ox does not require an entry, leave it bankJan 22Fett: 27vWhatPain Capital in Excess of Par ConanPreferred StockSis eBookShow Me HowEntries for Issuing Par StockOn January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 65,000 shares of $15 par common stock at $51, and on February 27, it issued for cash130,000 shares of preferred stock, $5 par at $8.a. Journalize the entries for January 22 and February 27.If an amount box does not require an entry, leave it blank.Jan: 22Feb. 27b. What is the total amount invested (total paid-in capital) by all stockholders as of February 277

Shareholders' equity balance includes common stock, preferred stock, and additional paid-in capital.…

Answered: Entries for Issuing Par Stock On…

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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On May 10, Skysong, Inc. issues 2,200 shares of $5 par value common stock for cash at $15 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit May 10
On April 1, 10,000 shares of $6 par common stock were issued at $24, and on April 7, 6,000 shares of $60 par preferred stock were issued at $106. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. Apr. 1 Apr. 7 ( Previous ms Next to search 3:27 PM 53°F Sunny (中ツ 12/14/2021 114 delete 144 pause home alt USE YOUR SMARTPHONE FOR Reviews Videos Features
On May 10, Blue Spruce Corporation issues 3,050 shares of $10 par value common stock for cash at $20 per share. Journalize the issuance of the stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit
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On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4) at $17, and on May 15, it issued for cash 2,000 shares of $17 par preferred stock at $61. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank.
The following were selected from among the transactions completed by Essex Company during July of the current year. Essex uses the net method under a perpetual inventory system. July 3. Purchased merchandise on account from Hamling Co., list price $89,000, trade discount 30%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $850 added to the invoice. 5. Purchased merchandise on account from Kester Co., $42,950, terms FOB destination, 2/10, n/30. 6. Sold merchandise on account to Parsley Co., $16,400, terms n/15. The cost of the goods sold was $9,390. 7. Returned merchandise with an invoice amount of $12,600 purchased on July 5 from Kester Co. 13. Paid Hamling Co. on account for purchase of July 3. 15. Paid Kester Co. on account for purchase of July 5, less return of July 7. 21. Received cash on account from sale of July 6 to Parsley Co. 21. Sold merchandise on MasterCard, $218,410. The cost of the goods sold was $152,110. 22. Sold merchandise on account to Tabor Co.,…
On April 1, 8,000 shares of $5 par common stock were issued at $23, and on April 7, 5,000 shares of $50 par preferred stock were issued at $105. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. Apr. 1 - Select - - Select - - Select - - Select - - Select - - Select - Apr. 7 - Select - - Select - - Select - - Select - - Select - - Select -
During its first year of operations, Swifty Corporation had the following transactions pertaining to its common stock Jan. 10 Issued 75,000 shares for cash at $7 per share. July 1 Issued 35,000 shares for cash at $9 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Your answer is correct. Date Jan 10 July 1 Account Titles and Explanation Cash Common Stock Cash Paid-in Capital in Excess of Par-Common Stock Common Stock Debit 525000 315000 Credit WI 525000 70000 245000
Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 45,000 shares of $12 par common stock at $41, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?$
a. Journalize the following transactions: i. January 10. Received cash from three incorporators for 75,000 shares of common stock, $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 Stock January 10. Received a subscription from Amory Lin for 10,000 shares of common stock, $50,000.00. M1. Total Amount of Dividends January 15. Received cash for the face value of a 5-year, 10%, $1,000.00 par value bond issue, $50,000.00. R11. January 25. Received a subscription from Peter Lavine for 8,000 shares of common stock, $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 per share. 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…

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