Goodall Corporation issued 75,000 shares of $1.60 par value common stock. Later that year, Goodall purchased reissued 2,600 shares. How many shares are issued and outstanding? OA. 75,000 issued and 75,000 outstanding OB. 91,000 issued and 88,400 outstanding OC. 75,000 issued and 61,600 outstanding OD. 77,600 issued and 61,600 outstanding.

Goodall Corporation issued 75,000 shares of $1.60 par value common stock. Later that year, Goodall purchased reissued 2,600 shares. How many shares are issued and outstanding? OA. 75,000 issued and 75,000 outstanding OB. 91,000 issued and 88,400 outstanding OC. 75,000 issued and 61,600 outstanding OD. 77,600 issued and 61,600 outstanding.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The following Information pertains to JAE Corporation at January 1, Year 1. Common stock, $10 par, 20,000 shares authorized, 2,000 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 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. Required Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below. Req D $20,000 15,000 82,000 Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts be indicated with minus sign.) Stockholders' equity Common stock Total paid-in capital Retained earnings Total stockholders' equity
Sierra Corporation engaged in the following share transactions in the first quarter of their fiscal year: 19 Issued 5,500 common shares for cash of $11.50 per share. 3 Sold 2,500 $1.50 Class A preferred shares for $14,000 cash to new investors. Received inventory valued at $30,000 and vehicles with market value of $22,000 for 5,200 common shares. Jul. Aug. 11 Sep. 15 Issued 3,500 $2.00 Class B preferred shares for $14.00 per share. Required 1. Journalize the transactions. Explanations are not required. 2. How much contributed capital did these transactions generate for Sierra Corporation? Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) July 19. Issued 5,500 common shares for cash of $11.50 per share. Journal Entry Date Jul. 19 Accounts Debit Credit
hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital—Common Stock account for $1,060,800. Required: How many shares were issued?fill in the blank 1 shares
Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 45,000 shares at $11 share. Jun. 10 Issued 110,000 shares in exchange for land with a clearly determined value of $850,000. Aug. 3 Purchased 11,000 shares of treasury stock at $8 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank Jun. 10 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank Aug. 3 fill in the blank fill in the blank fill in the blank fill in the blank B. Calculate how many shares of stock are outstanding at August 3. fill in the blank ________shares
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On January 1, Vermont Corporation had 36,300 shares of $9 par common stock issued and outstanding. All 36,300 shares had been issued in a prior period at $22 per share. On February 1, Vermont purchased 1,000 shares of treasury stock for $27 per share and later sold the treasury shares for $21 per share on March 1. The entry to journalize the purchase of the treasury shares on February 1 would include a O a. debit to a loss account for $5,000. b. credit to Treasury Stock for $27,000. c. credit to a gain account for $5,000. d. debit to Treasury Stock for $27,000.
Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 41,000 shares at $10 share. Jun. 10 Issued 130,000 shares in exchange for land with a clearly determined value of $830,000. Aug. 3 Purchased 8,000 shares of treasury stock at $9 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31 fill in the blank 5b050cfc1fe8fc9_2 fill in the blank 5b050cfc1fe8fc9_3 fill in the blank 5b050cfc1fe8fc9_5 fill in the blank 5b050cfc1fe8fc9_6 fill in the blank 5b050cfc1fe8fc9_8 fill in the blank 5b050cfc1fe8fc9_9 Jun. 10 fill in the blank 5b050cfc1fe8fc9_11 fill in the blank 5b050cfc1fe8fc9_12 fill in the blank 5b050cfc1fe8fc9_14 fill in the blank 5b050cfc1fe8fc9_15 fill in the blank 5b050cfc1fe8fc9_17 fill in the blank 5b050cfc1fe8fc9_18 Aug. 3 fill in the…
Nexis Corp. issues 1,110 shares of $9 par value common stock at $17 per share. When the transaction is journalized, credits are made to a.Common Stock, $8,880 and Retained Earnings, $9,990. b.Common Stock, $8,880 and Paid-In Capital in Excess of Stated Value, $9,990. c.Common Stock, $18,870. d.Common Stock, $9,990, and Paid-In Capital in Excess of Par—Common Stock, $8,880.
The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $62 per share. The entry to record the transaction will consist of a debit to Cash for $620,000 and a credit or credits to a. Preferred Stock for $620,000. Ob. Preferred stock for $500,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $120,000. Oc. Preferred Stock for $500,000 and Retained Earnings for $120,000. Od. Paid-in Capital from Preferred Stock for $620,000.
(19) Miller Corporation issued 7,000 shares of its $5 par value common stock in payments for attorney services billed at $70,000. Miller Corporation's stock has been actively trading at $10 per share. The journal entry for this transaction would include a credit to: A. Legal expenses for $70,000 B. Common stock for $70,000 C. Paid - in Capital in Excess of Par-Common for $70,000. D. Paid - in Capital in Excess of Par-Common for $35,000.

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