Kingbird, Inc. issues 9,700 shares of $102 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation

Kingbird, Inc. issues 9,700 shares of $102 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation

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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Delta Corporation issued 10,000 shares of no-par common stock for $1 per share on July 13. Record the stock issuance. (Check your spelling carefully and do not abbreviate. Be sure to include the type of stock in the account names where applicable. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Jul. 13
PLEASE DONT CUT OFF THE ANSWER AND USE THE EXACT ACCOUNT TITLES On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 70,300 shares of $10 par common stock at $15, and on November 19, it issued for cash 18,450 shares of preferred stock, $45 par at $56. Required: a. Journalize the entries for October 31 and November 19. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19? CHART OF ACCOUNTS Pidgeon Stones Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193…
Holimont Ltd. (HL) has unlimited no-par common shares authorized. The following transactions took place in the first year: a. To record authorization of shares by board of directors (memorandum). b. Issued 200,000 shares at $20; collected cash in full and issued the shares. Share issue costs amounted to $67,000. Treat this amount as a reduction of the common share account. c. Received subscriptions for 100,000 shares at $30 per share; collected 70% of the subscription price. The shares will not be issued until collection of cash in full. d. Issued 400 shares to a lawyer in payment for legal fees related to trademark registration. The lawyer estimates that the legal services provided would have been worth $12,000. e. Issued 40,000 shares and assumed an $120,000 mortgage in total payment for a building with a fair value of $240,000. f. Collected balance on subscriptions receivable in (c).
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On March 15, American eagle declares a quarterly cash dividend of $0.035 per-share payable on April 13 to all stockholders of record on March 30. Record American Eagle‘s declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select “ no journal entry required” in the first account field enter your answer in dollars not in millions)
Hi, I need help assembling the following two journal entries. Thanks!
Tamarisk, Inc. issues 9,400 shares of $106 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically Indented when amount Is entered. Do not Indent manually. If no entry Is requlred, select "No Entry" for the account titles and enter o for the amounts.)
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