Moonwalker Corporation issed 2.000 shares of its $10 par value common stock for $60 000 Moonwalker also incurred $1 500of costs associated with issuing the stockPrepare Moonwalker's journal entry to record the issuance of the company's stock$60 000O CashCommon Stock$20 000Additional Paid-in-Capital CS $40 000O CashCommon Stock$58 500$20 000Additional Paid in Capital CIS $38 500O CashCommon Stock接90095320 000Additional Paid-in-Capital PIS $40 000Cash$58 500$20 000Adctional Paidin Capital P/S S38500

Moonwalker Corporation issued 2.000 shares of its $10 par value common stock for $60.000 Moonwalker also incurred $1 500 of costs associated with issuing the stock Prepare Moonwalker's journal entry to record the issuance of the company's stock S60 000 O Cash Common Stock Additional Paid in-Capital C/S O Cashi Common Stock Additional Paid in Capital CIS $38 500 $20 000 $40.000 $68 500 320 000 Cash 000 09$ $20 000 Common Stock Additional Paid-in-Capital PIS 540 000 Cash 358 500 Common Stock Adotional Paic in Capral P/S 538 500 $20 000

Moonwalker Corporation issued 2.000 shares of its $10 par value common stock for $60.000 Moonwalker also incurred $1 500 of costs associated with issuing the stock Prepare Moonwalker's journal entry to record the issuance of the company's stock S60 000 O Cash Common Stock Additional Paid in-Capital C/S O Cashi Common Stock Additional Paid in Capital CIS $38 500 $20 000 $40.000 $68 500 320 000 Cash 000 09$ $20 000 Common Stock Additional Paid-in-Capital PIS 540 000 Cash 358 500 Common Stock Adotional Paic in Capral P/S 538 500 $20 000

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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Q. question 1
Contributed capital: Preferred shares, $4 cumulative, 15,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 60,000 shares issued and outstanding Western Grass Inc. Equity Section of Balance Sheet December 31, 2023 Total contributed capital Retained earnings Total equity a. b. Book Value of Common Shares 144,000 300,000 $ 444,000 584,000 $1,028,000 $ Required: Using the information provided, calculate book value per common share assuming: (Round the final answers to 2 deci a. There are no dividends in arrears. b. There are three years, of dividends in arrears. 27
Contributed capital: Western Grass, Inc. Equity Section of Balance Sheet December 31, 2823 Preferred shares, $3 cumulative, 10,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 65,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 75,000 552,500 627 500 581 000 $1,208,500 Required: Using the Information provided, calculate book value per common share assuming: (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares
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courses/_16956_1/cl/outline Final Project XYZ, Inc. had the following Stockholder's Equity Balances as of 1/1/21: Preferred Stock-500 shares @ $100 par value Common Stock-10,000 shares @ $10 par value Additional Paid-in Capital Retained Earnings During the year the following events occurred: 5000 share of common stock was issued on 3/1/21 at $12 per share. 1000 shares of its on stock was purchased on 6/1/21 at $15 per share Net Income for the year was $45,000 XYZ, Inc. declared a 2 for 1 stock split on 11/1/21 Dividends declared 12/15/21 at $1.50 per share to be paid 1/15/22 Calculate the following items as of 12/31/21 1. Total Contributed Capital 2. Retained Earnings Balance 3. Total stockholder's Equity $500,000 $100,000 $250,000 $700,000
Total Stockholders' Equity of P200,000 should be Treasury Shares
Prepaid journal entries to record following transactions: Jan 10-issued shares of 10$ par common stock at 56$ for cash jan 22 issued 1400 shares of 10$ par common stock in exchange for equipment with a fair market price of 21000$ april 1 purchased 100 shares of treasury stocks at 25$ june 8 sold the 100 shares of treasury stock purchases April 1 at 30$
The Investments and Dividends Income accounts of Babe Time Company are shown below: Trading Securities Date Description Ref. Debit Credit 06/22/14 5,000 ordinary shares, par value P100, Bebe Co. CD – 28 520,000 12/31/14 Adjustment to fair value 80,000 05/31/15 500 shares Bebe Co. received as bonus issue GJ – 10 12,000 07/10/15 Sold 1,000 shares @ P130 net of transaction cost CR – 21 130,000 12/04/15 Sold 1,000 shares @ P140 CR – 40 140,000 Dividend Income Date Description Ref. Debit Credit 05/31/15 Bonus issue (stock dividend) GJ – 10 12,000 08/01/15 Cash dividend on Bebe Co ordinary shares CR – 22 22,500 The following information was obtained during your examination: The December 31, 2014 statement of financial position of Babe time Company showed, among current assets, Trading Securities of P600,000. You obtained the following…
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question on exercise 16.4
Question(C) 1. On Septensber 1, 2015, Valdez Company reacquired 12,000 shares of ths$10par value ondinary shares for$15per share. Valdez uses the cost method to account for treasury shares. The joumal entry to record the reacquisition of the shares should debit a. Treasury Shares for$120,000. b. Share Capital-Ordinary for$120,000. c. Share Capital-Ordinary for$120,000and Share Premium-Ordinary for$60,000. 2. Long Co, issued 100,000 shares of$10par ordinary shares for$1,200,000. Long aequired 8,000 shares of its own shares at 515 per share. Three months later Long sold 4,000 of these shares at$19per share. If the cost method is used to record treasury shares transactions, to record the sale of the 4,000 treasury shares, Long should credit a. Treasury Shares for$76,000. b. Treasury Shares for$40,000and Share Premium-Treasury for$36,000. c. Treasury Shares for$60,000and Share Premium-Treasury Stock for$16,000. d. Treasury Shares for$60,000and Share Premium-Ordinary for$16,0003. Glavine…