Exercise 11-4 (Algo) Recording stock issuances LO P1Prepare Journal entries to record each of the following four separate Issuances of stock.Required InformationUse 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 exchangefor 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 exchangefor 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 listA Record the issue of 6,000 shares of $10 par valuecommon stock for $72,000 cash.B Record the issue of 3,000 shares of no-par common stockto its promoters in exchange for their efforts, estimated.to be worth $52,000. The stock has a $2 per share statedvalue.CDRecord the issue of 3,000 shares of no-par common tockto its promoters in exchange for their efforts, estimatedto be worth $52,000. The stock has no stated value.Record the issue of 1,500 shares of $50 par valuepreferred stock for $127,000 cash.Note : = journal entry has been enteredRecord entryClear entry< Prev2 of 10X$72,000ebit Credit>View general journalScore answerCheck my wor

The shares can be issued for cash or for payment of any other expense of the business. The excess…

Answered: Following are the Issuances of stock…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Using the following accounts and balances, prepare the “Stockholders' Equity" section of the balance sheet. 20,000 shares of common stoCk authorized, and 10,000 shares have been reacquired. Common Stock, $80 par $1,120,000 Paid-In Capital from Sale of Treasury Stock 45,000 Paid-In Capital in Excess of Par-Common Stock 168,000 Retained Earnings 661,000 Treasury Stock 23,000 Balance Sheet Stockholders' Equity Paid-in capital: Paid-in capital, common stock $ Total paid-in capital Total Total stockholders'eauity.
Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
Prepare the journal entry to record Jevonte Company's issuance of 41,000 shares of its common stock assuming the shares have a: a. $3 par value and sell for $19 cash per share. b. $3 stated value and sell for $19 cash per share. View transaction list Journal entry worksheet < 1 Record the issuance of 41,000 shares of common stock assuming the shares have a $3 par value and sell for $19 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit
1. A Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. 2. 2. Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has a $1 per share stated value. 2. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $25 par value preferred stock for $87,750 cash. 3. 3. 4. 4. Assets = = = = = = Liabilities + +++++++ Equity
Calculating the Number of Shares Issued Chester Inc. issued shares of its $3.85 par value common stock for $16.50 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital-Common Stock account for $1,062,600. Required: How many shares were issued? shares
Prepare the journal entry to record Autumn Company's issuance of 68,000 shares of no-par value common stock assuming the shares: a. Sell for $31 cash per share. b. Are exchanged for land valued at $2,108,000.
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Prepare the journal entry to record Jevonte Company’s issuance of 41,000 shares of its common stock assuming the shares have a: $3 par value and sell for $19 cash per share. $3 stated value and sell for $19 cash per share
8. On August 1, Hagino Corporation declared a $1.50 per share cash dividend on its common stock (20,000 shares) for stockholders on record as of August 15. Hagino Corporation paid the dividend on August 31. Journalize the entries declaring the cash dividend and paying the dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the entry declaring the cash dividend. Date Aug. 1 Accounts and Explanation Debit Credit
Following are the issuances of stock transactions. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $2 per share stated value. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. A corporation issued 750 shares of $25 par value preferred stock for $52,250 cash. Prepare journal entries to record each of the following four separate issuances of stock.

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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 tatod value