issued 2,000 shares of preferred stock at $ 105 per share. Sep. 3 issued 80,000 share of common stock at $13.25 per share. Oct. 11 issued 12,000 share of common stock for land valued at $ 156,000. The stock is currently trading at $ 12 per share, and the stock's trading value is a more accurate determinate of the land value. Nov. 12 issued 5,000 shares of common stock at $15 per share. Dec. 5 issued 1,000 of preferred stock at $ 112 per share. How do you journalize the transactions?

issued 2,000 shares of preferred stock at $ 105 per share. Sep. 3 issued 80,000 share of common stock at $13.25 per share. Oct. 11 issued 12,000 share of common stock for land valued at $ 156,000. The stock is currently trading at $ 12 per share, and the stock's trading value is a more accurate determinate of the land value. Nov. 12 issued 5,000 shares of common stock at $15 per share. Dec. 5 issued 1,000 of preferred stock at $ 112 per share. How do you journalize the transactions?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

devrat
Apr. 16 Purchased 5,000 shares of Lafayette Co. stock at $26 per share. July 7 Purchased 3,500 shares of CVF Co. stock at $51 per share. 20 Purchased 1,600 shares of Green Co. stock at $18 per share. Aug. 15 Received an $1.20 per share cash dividend on the Lafayette Co. stock. 28 Sold 3,000 shares of Lafayette Co. stock at $29 per share. Oct. 1 Received a $3.30 per share cash dividend on the CVF Co. shares. Dec. 15 Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares. 31 Received a $2.70 per share cash dividend on the CVF Co. shares. What would the end result be on the general ledger?
MJH Company issued 500 shares of stock with a par value of $10 per share for land valued at $20,000. The entry to journalize this would include: a credit to paid in capital in excess of par of $15,000 All of the above a debit to land of $20,000 a credit to common stock of $5000
Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $26 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $41 per share. Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share. a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
Oct. 2 Issued 24,000 shares of common stock for a building with a market value of $130,000. Oct. 6 Issued 550 shares of preferred stock for $160 per share. Oct. 9 Issued 18,000 shares of common stock for cash of $90,000. Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Oct. 10 Oct. 25 Paid the cash dividend. Assume B- Mobile's net income for the month was $92,000.
on may 15, the simple corporation issued 6,000 common shares of $8 par value stock for land valued at $120,000. common stock will be credited $48,000
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.
Common stock face value each is $ 1. Show all the required entries.
Please show your work.
issued 65,000 shares of common stock. Stock has par value of 0.40 per share and was issued at $30.00per share. Prepare the journal entry with narrations
Apr. 16 Purchased 6,000 shares of Kohler Co. stock at $29 per share. July 7 Purchased 4,500 shares of JCW Co. stock at $54 per share. 20 Purchased 2,000 shares of Ontario Co. stock at $21 per share. Aug. 15 Received an $1.40 per share cash dividend on the Kohler Co. stock. 28 Sold 3,600 shares of Kohler Co. stock at $32 per share. oct. 1 Received a $5.00 per share cash dividend on the JCW Co. shares. Dec. 15 Received a $1.70 per 31 Received a $4.40 per General Journal Requirement share cash dividend on the remaining Kohler Co. shares. share cash dividend on the JCW Co. shares. General Ledger Trial Balance Fair Value Adj For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. Apr. 16) Purchased 6,000 shares of…
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.