lendocino College|* Chapter 12 Homework* CengageNOwv2 | Onlin Xgenow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress%3DtrueeBookShow Me HowCalculatorPrint ItemIssuing StockProfessional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares ofpreferred 4% stock, $60 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year ofoperations:Journalize the transactions.Feb. 5. Issued 125,000 shares of common stock at par for cash.Feb. 5.Feb. 5. Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.Feb. 5.fair market nrices of $77,000, $422,000, and CengageNOW2 |Onlin xww.com/ilm/takeAssignment/takeAssignmentMain.do?inprogresstrueApr. 9. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $77,000, $422,000, and$95,000, respectively.If an amount box does not require an entry, leave it blank"Apr. 9.June 14. Isued 13,000 shares of preferred stock at $68 for cash.If an amount box does not require an entry, leave it blank.June 14.

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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tings Store M Gmail YouTube Maps Home MOH - Immigration ht At December 31, 2021, Hancock Company had 500,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on October 1, 2021. Net income for the year ended December 31, 2021, was $1,700,000 and preferred stock dividends were $40,000. What should be Hancock's 2021 earnings per common share, rounded to the nearest penny? $3.91 $4.00 $3.78 O$4.25
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Chapter 10 Homework A Saved Help Save & Exit Submit Check my work 7 Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $24 per share. February 6 Issues 1,900 shares of 78 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $29 per share. December 15 Resells 6,000 shares of treasury stock at $34 per share. 2 points In its first year of operations, Finishing Touches has net income of $149,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $1,330 on all preferred shares outstanding. eBook Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Hint FINISHING…
CengageNOWv2 | Online teachin X + 0 O https://v2.cen... A Chapter 13 Homework Assignment ( Dividends Per Share $10 par common stock. The Windborn Company has 30,000 shares of cumulative preferred 3% stock, $50 par and 50,000 following amounts were distributed as dividends: Year 1 $67,500 Year 2 22,500 Year 3 135,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) Common stock (Dividends per share) Check My Work 3 more Check My Work uses remaining. Next $ of ▬ > ..
eBook Show Me How Question Content Area Equity investments: Less than 20% ownership On September 12, 3,000 shares of Denver Company’s common stock are acquired at a price of $40 per share plus a $300 brokerage commission. On October 15, an $0.80-per-share dividend was received on the Denver Company stock. On November 10, 1,600 shares of the Denver Company stock were sold for $36 per share less a $150 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 1,400 shares of Denver Company’s stock was $35 per share. Denver Company has 400,000 shares of common stock outstanding. Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method. If an amount box does not require an entry, leave it blank. Sep. 12 Investments-Denver Company Stock Investments-Denver Company Stock Cash Cash Oct. 15 Cash Cash Dividend Revenue Dividend Revenue Nov. 10…
eBook Question Content Area Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 4 for 1 and reduced the par from $160 to $40 per share. After the split, there were 700,000 common shares outstanding. Date Account Debit Credit Jan. 5. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 Mar. 10. Purchased 56,000 shares of the corporation's own common stock at $43, recording the stock at cost. Date Account Debit Credit Mar. 10. fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 Apr. 30. Declared semiannual dividends of $1.40 on 40,000 shares of preferred stock…
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engageNOWv2 Online teaching and learning resource from Cengage Learning genow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator%3D&inprogress3false Entries for issuing no-par stock Final Question Jounal Chart of Accounts Instructions Instructions On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 730,000 shares of no-par common stock (with a stated value of $1.70) at $4.70, and on August X. 3, it issued for cash 24,700 shares of preferred stock, $45 par at $61. Required: A. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. Refer to the Chart of Accounts for exact wording of account titles. B. What is the total amount invested (total paid-in capital) by all stockholders as of August 3? 10:48

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