Homework Help is Here – Start Your Trial Now!
Business
Accounting
Journalise ( Provide all working) a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5. b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share. c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

Journalise ( Provide all working) a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5. b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share. c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Journalise ( Provide all working)

a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5.

b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share.

c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

 

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for stockholder's equity
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS