Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash.

Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

stock refers to issued stock that is currently held by stockholders. O Authorized O Outstanding O Market Issued
Which of the following formulas is correct regarding the different status of shares of stock: authorized shares, issued shares, outstanding shares, and treasury shares? a. Issued - Treasury = Outstanding %3D b. Issued + Treasury - Authorized C. Authorized + Treasury = Issued d. Issued + Outstanding + Treasury Authorized
How do you journalize the issuance of stock at par, t premium, and at discount.
Prepare a journal entry that summarizes the declaration and distribution of the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?
ESPAÑOL INGLÉS FRANCÉS As of the date of the financial statements, the number of common shares issued will exceed the number of shares outstanding as a result of to. the declaration of a stock dividend. b. the declaration of a division or division of shares (stock split). С. the purchase of shares in portfolio (treasury stock). Enviar comenta. MacBook Air
Required information The following information applies to the questions displayed below.) Sun Corporation received a charter that authorized the issuance of 80,000 shares of $7 par common stock and 19,000 shares of $100 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 Jan. 5 Bold 12,000 whares of the $7 par common atock for $9 par share. 12 Bold 1,900 sharen of the 5 perceat preferred stoek for $110 per share. Apr. 5 Bold 16,000 uhares of the $7 par common stock for $11 per share. Dec.31 During the year, earned 5312, 500 in cash revenun and paid $236,100 for cash opersting expenann. 31 Declared the canh đividend on the outatanding aharea of preferred atock tor Year 1. the dividend will be paid on February 15 to atoekholders of record on January 10, Year 2. Year 2 Feb.15 Paid the cash dividend declared on December 31, Year 1. Mar. 3 Sold 2, 850 shares of the $100 par preferred stoek for $120…
when shares are subscribed at par value , the debit to subscription receivable should be at
The shares of stock sold to investors are Select one: a. Treasury shares. b. Authorized shares. c. Issued shares. d. Outstanding shares. A firm that sold one share of $1 par value common stock for $10 would Select one: a. Debit common stock for $1. b. Debit common stock for $10. c. Credit common stock for $1. d. Credit common stock for $10. For a bond issued at par, the cash received upon issue equals the present value of the bond’s Select one: a. Principal repayment minus the interest payments. b. Principal repayment and interest payments. c. Principal repayment. d. Interest payments.
1.F&B Controller compares the physical stock with book stock as per FLR register on daily basis. Choices: a. preventive b. detective c. corrective
Which of the following is issued to shareholders to acquired unissued or treasury shares within a specified tie period at a specified price?a. Share optionb. Share warrantc. Stock dividendd. Share subscription
(please answer quickly)
1) Identify any three (3) earnings per share (EPS) information required to be disclosed in financial statements under MFRS 133 Earnings Per Share. 2) With reference to 31 March 2021, briefly explain the share split in accordance with MFRS 133 Earnings Per Share.