Exercise 11-3 (Static) Accounting for par, stated, and no-par stock issuances LO P1Rodriguez Corporation issues 19,000 shares of its common stock for $152,000 cash on February 20. Prepare journal entries to recordthis event under each of the following separate situations.1. The stock has a $2 par value.2. The stock has neither par nor stated value.3. The stock has a $5 stated value.

Formula:Part 1: When Stock is issued at par of $2, the remaining amount is credited to paid-in…

Answered: Exercise 11-3 (Static) Accounting for…

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 12.2BE

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Entries for stock dividends Alpine Energy Corporation has 1,500,000 shares of 40 par common stock outstanding. On August 2, Alpine Energy declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was 70 per share on August 2. Journalize the entries required on August 2, September 15, and October 8.
Entries for issuing par stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 180,000 shares of 20 par common stock at 23, and on February 27, it issued for cash 25,000 shares of preferred stock, 7 par at 9. A. Journalize the entries for January 22 and February 27. B. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO PI Rodriquez Corporation issues 8,000 shares of its common stock for $80,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $8 par value. 2. The stock has neither par nor stated value. 3. The stock has a $4 stated value. t5932 View transaction list Book Journal entry worksheet A B Record the issue of 8,000 shares of $8 par value common stock for $80,600 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Mc Graw Hill 1 of 7 E Prey Next > pe here to search 99+ D 69°F Cloudy 3 5 E RI Y U H. K 5. IN
Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare Journal entries to record each of the following four separate Issuances of stock. Required Information Use the following information for Exercises 4-5 below. (Algo) [The following Information applies to the questions displayed below.] Following are the Issuances of stock transactions. 1. A corporation Issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation Issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $52,000. The stock has a $2 per share stated value. 3. A corporation Issued 3,000 shares of no-par common stock to Its promoters in exchange for their efforts, estimated to be worth $52,000. The stock has no stated value. 4. A corporation Issued 1,500 shares of $50 par value preferred stock for $127,000 cash. View transaction list A Record the issue of 6,000 shares of $10 par value common stock for $72,000 cash. B Record the issue of…
Prepare journal entries to record the following four separate issuances of stock.
Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $10 par, 8,000 shares authorized, 1,600 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 950 shares of $10 par common stock for $25 per share. 2. Repurchased 210 shares of its own common stock for $22 per share. 3. Resold 50 shares of treasury stock for $23 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Req A and B $16,000 14, 200 65,600 Complete this question by entering your answers in the tabs…
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MC Qu. 11-64 A company issues... A company issues 1 million shares of common stock with a par value of $0.14 for $16.20 a share. The entry to record this transaction includes a debit to Cash for: Multiple Choice $140,000 and a credit to Common Stock for $140,000. $16,200,000 and a credit to Common Stock for $16,200,000. $16,200,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000. $140,000, a debit to Capital Receivable for $16,060,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000.
QS 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry to record Tamas Company's issuance of 6,000 shares of $100 par value, 8% cumulative preferred stock for $106 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Tamas Company's issuance of 6,000 shares of $100 par value, 8% cumulative preferred stock for $106 cash per share. View transaction list Journal entry worksheet

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