If Marigold Company issues 8800 shares of $5 par value common stock for $160600, the account O Cash will be debited for $116600. O Paid-in Capital in Excess of Par will be credited for $44000. O Common Stock will be credited for $44000. O Paid-in Capital in Excess of Par will be credited for $160600.

If Marigold Company issues 8800 shares of $5 par value common stock for $160600, the account O Cash will be debited for $116600. O Paid-in Capital in Excess of Par will be credited for $44000. O Common Stock will be credited for $44000. O Paid-in Capital in Excess of Par will be credited for $160600.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal entry to record this transaction should include the following: (check all that apply) Select one or more: a. debit "Common Stock" for $20,000. b. credit "Additional Paid-in Capital" for $250,000. c. debit "Cash" for $250,000. d. credit "Additional Paid-in Capital" for $230,000. e. credit "Common Stock" for $20,000. f. credit "Common Stock" for $250,000. g. credit "Additional Paid-in Capital" for $270,000.
A corporation sold 9,500 shares of its $10 par value common stock at a cash price of $11 per share. The entry to record this transaction would include: Multiple Choice A credit to Common Stock for $95,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $104,500. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $199,500. A credit to Common Stock for $104,500. A debit to Cash for $95,000. O
Sheridan Company acquired 21400 shares of its common stock at $18 per share on February 5, 2025, and sold 10700 of these shares at $25 per share on August 9, 2026. The fair value of Sheridan's common stock was $22 per share at December 31, 2025, and $23 per share at December 31, 2026. The cost method is used to record treasury stock transactions. What account(s) should Sheridan credit in 2026 to record the sale of 10700 shares? O Treasury Stock for $192600 and Paid-in Capital from Treasury Stock for $74900. O Treasury Stock for $235400 and Retained Earnings for $32100. O Treasury Stock for $192600 and Retained Earnings for $74900. O Treasury Stock for $267500.
Vaughn Corporation sold 390 shares of treasury stock for $55 per share. The cost for the shares was $45. The entry to record the sale will include a O credit to Treasury Stock for $21450. O credit to Paid-in Capital from Treasury Stock for $3900. O debit to Paid-in Capital in Excess of Par for $3900. O credit to Gain on Sale of Treasury Stock for $17550.
The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share. The entry to record the transaction will consist of a debit to Cash for $646,800. What credit or credits will the entry consist of? Select the correct answer. -Preferred Stock for $509,600 and Retained Earnings for $137,200. -Paid-in Capital from Preferred Stock for $646,800. -Preferred Stock for $646,800. -Preferred stock for $509,600 and Paid-in Capital in Excess of Par Value - Preferred Stock for $137,200.
If Windsor, Inc. issues 4000 shares of $10 par value common stock for $380000, the account Paid-in Capital in Excess of Par Value will be credited for $340000. explain why this is the answer and what is the purpose of the paid-in capital in excess of par value account.
Y Corporation is organized with authorized common stock of 10,000 shares without par value. If Y then issues 500 shares for cash at $10 per share, it makes the following entry .a Dr. Cash 5,000 and Cr. Common Stock .5,000 .b Dr. Cash 1,500 and Cr. Paid in capital -CS .1,500 .c Dr. Equipment 1,500, Cr. Common Stock .5,00 and Cr. Paid in capital -CS 1,000 .d Dr. Cash 1,500, Cr. Common Stock 500 .and Cr. Paid in capital -CS 1,000
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HaidiKho Allams has 1,750,000 shares of authorized common stock, each having a $1 par value. Over the years, it has issued 1,532,000 share 1.) What would be its common stock after the financing? Format: 1,111,111 2.)What would be its additional paid-in capital accounts after the financing? Format: 11,111,111
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G.Swifty Corporation was organized on January 1, 2020, with authorized capital of 1060000 shares of $10 par value common stock. During 2020, Swifty issued 55000 shares at $11 per share, purchased 5500 shares of treasury stock at $12 per share, and sold 5500 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020? O $55000 O $0 O $66000 O $11000