In august 1, 10,000 shares of $10 per common stock were issued at $30. On August 7, 5,000 shares of $50 per preferred stock was issued at $111. Journalize May 1 and May 7

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 320,000 shares of $5 par…

A: Total paid in capital is the amount of capital which includes the common stock, preferred stock,…

Q: How do I do it

A: Journal entries: A journal entry is recorded for every business transaction. It is the first step in…

Q: On April 1, 12,000 shares of $6 par common stock were issued at $23, and on April 7, 3,000 shares of…

A: The Process Of Recording Business Transactions In The Books Of Accounts For The First Time Is…

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of…

A: On January 22 : (a) Number of Common Stock shares issued = 210,000 shares (b) Par Value = $ 30 (c)…

Q: How to journalize the entry for december 31?

A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

Q: Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of…

A: April 1: Issuance of Common StockAccountdebit($)credit($)cash2,20,000commono stock50,000paid in…

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 25,000 shares of…

A: (1) Debit what comes in, Credit what goes out.(2) Debit all expenses and losses, Credit all incomes…

Q: On May 10, Pronghorn Corp. issues 2,200 shares of $4 par value common stock for cash at $14 per…

A: Per share paid in excess=Issue price-Par value=$14-$4=$10

Q: Stockholders’ Equity: Transactions and Balance Sheet Presentation Beaker Corporation was organized…

A: Share Capital:  The share capital includes both the share capital - Equity share capital Preference…

Q: Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current…

A: Journal:- These are prepared by the companies with debit and credit sides in order to match the…

Q: Journalize the following transaction if the common stock has a par value of $5. January 15 Issued…

A: JOURNAL ENTRIESJournal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: During its first year of operations Jeff company had the following transactions pertaining to its…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

Q: Weighted Average Shares Howard Corporation had 10,000 shares of common stock outstanding at the…

A: Lets understand the basics.During the year number of shares outstanding are not same. Due to…

Q: Jan. 15 Issued 64,000 shares of $5 par value common stock at $17 cash per share. Jan. 20 Issued…

A: Accounting equationAs per the double-entry system, the transactions of business will affect two or…

Q: when a company issues 31,000 shares of $3 per value common stock for $30 per share, the journal…

A: Journal means the book of original entry where the first time entry is passed. When share has been…

Q: preferred stock were issued at $106. entries for April 1 and 7. Refer to the Chart of Accounts for…

A: When the a company issues stock, the issue price may be higher than the par value of the stock. The…

Q: Prepare the entries to record these transactions.(

A: Date  Account titles  Debit  Credit                 April 1 Cash Account (21000 X…

Q: If Common Stock is $10 par value , 140,000 shares are authorized, and 60,000 shares , if the…

A: Cash dividend payable = $2 x 60,000 = $120,000

Q: journalize the selected transacations: Jan. 3 Issued 15,000 shares of $20 par common stock at…

A: Journal Entries is the primary entry in the books of the business.

Q: On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for the…

Q: 3 On June 1, Forest Inc. issues 4,000 shares of no-par common stock at a cash price of $7 per…

A: Journal Entry: It is the duty of the accountant to record business economic and non-economic…

Q: On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of…

A: Introduction: A journal entry is a record of a business arrangement in the accounting system of a…

Q: April Issued 5,000 share of Common Stock, $2 par for $17 per share. Record the journal entry.

A: The company can raise funds by various methods. One of them is by issuing common stock. The common…

Q: Jan. Issued 1,000 shares of Common Stock, $2 par for $12 per share. Record the journal entry.

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for…

A:

Q: The company was organized on January 1, Year 1. The firm was authorized to issue 500,000 shares of…

A: The dividend is paid to the shareholders from the retained earnings of the business. The treasury…

Q: Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor,…

A: The shareholders equity comprises of issued capital, retained earnings, etc. The total paid in…

Q: Earnings per Share Stanford Corporation began the year with 150,000 shares of common stock…

A: 3Explanation:Shares at the beginning = 150,000Shares issued (March) = 10,000 x (10/12) =…