If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, Common Stock will be credited for $75,000
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A: Treasury stock is the stock which is bought back by the issuing company. It is also known as…
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Q: If Dakota company issues 1500 shares of six dollar par common stock for $75,000, which of the…
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Q: If a corporation issues 6,000 shares of $5 par value common stock for $89,000, the journal entry…
A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 6000 x $5 =…
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A: Given that issued common stock = 2300 shares stated value = $12 per share
Q: 5,000 shares of common stock for $16 t to Common Stock for $5.000
A: Answer : Issue share =5000 Stated Value per share = $12 Value of common stock = No. of common share…
Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
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Q: If Kiner Company issues 1,000 shares of P5 par value common stock for P7o,000, the account Common…
A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…
Q: Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share.…
A: Definition:
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Q: Nebraska Inc. issues 4,200 shares of common stock for $134,400. The stock has a stated value of $14…
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Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The…
A: Cash received = 10,000 x $75 = $750,000 Preferred stock = 10,000 x $50 = $500,000 Excess = 10,000 x…
Q: If Dakota Company issues 2,900 shares of $9 par common stock for $55,100, a. Common Stock will be…
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A: The question is multiple choice question. Required Choose the Correct Option.
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- A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cash
- Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for S66,000If Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited for $6,600. b.Common Stock will be credited for $24,200. c.Paid-In Capital in Excess of Par will be credited for $17,600. d.Paid-In Capital in Excess of Par will be credited for $6,600.
- If Dakota Company issues 3,200 shares of $10 par common stock for $57,600, Oa. Cash will be debited for $32,000. Ob. Paid-in Capital in excess of Par Value will be credited for $32,000. Oc. Common Stock will be credited for $57,600. Od. Paid-in Capital in excess of Par Value will be credited for $25,600.i need the answer quicklyIf Kiner Company issues 1,000 shares of P5 par value common stock for P70,000, the асcount O Common Stock will be credited for P5,000. Paid-in Capital in Excess of Par Value will be credited for P5,000. Paid-in Capital in Excess of Par Value will be credited for P70,000. Cash will be debited for P65,000.
- If Dakota company issues 1500 shares of six dollar par common stock for $75,000, which of the following would be true? A) Common stock will be credited for 75,000 B) Paid in capital in excess of power will be credited for 9000 C) Paid in capital in excess of power will be credited for 66,000 D) Cash will be debited for 66,0001.000 shares of common stock with a par value of $5 is sold for $8. Which of the following is correct: A. Cash is debited for $5,000 B. Common Stock is debited for $5,000 C. Paid in Capital in Excess of Par is credited for $3,000 D. Common Stock is credited for $8,000Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. The company then resells 400 of these shares for $20 per share. Which of the following is recorded at the time of the resale? a. Credit Common Stock for $400. b. Credit Treasury Stock for $8,000. c. Credit Common Stock for $8,000. d. Credit Additional Paid-In Capital for $1,600.