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- Rodriguez Corporation issues 19,000 shares of its common stock for $152.000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $2 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value View transaction list Journal entry worksheetItalian Stallion has the following transactions during the year related to stockholders’ equity.February 1 Issues 6,000 shares of no-par common stock for $16 per share.May 15 Issues 700 shares of $10 par value preferred stock for $13 per share.October 1 Declares a cash dividend of $1.25 per share to all stockholders of record (both common and preferred) on October 15.October 15 Date of record.October 31 Pays the cash dividend declared on October 1.Required:Record each of these transactions.On July 1, Blue Spruce Corp. purchases 550 shares of its $5 par value common stock for the treasury at a cash price of $9 per share. On September 1, it sells 200 shares of the treasury stock for cash at $12 per share. Journalize the two treasury stock transactions.
- please fill the pictures in: Rodriguez Corporation Issues 8,000 shares of Its common stock for $101,600 cash on February 20. Prepare Joural entries to record this event under each of the following separate situations 1. The stock has a $10 par value. 2 The stock has nether par nor stated value. 3. The stock has a $5 stated valueRodriguez Corporation issues 6,000 shares of its common stock for $87,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet < A B с Record the issue of 6,000 shares of $12 par value common stock for $87,500 cash. Transaction 1 Note: Enter debits before credits. General Journal Debit CreditOn January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at $32 per share. On May 10, Dee-Light issued at par 4,200 shares of preferred 3% stock, $20 par for cash. On June 22, Dee-Light issued for cash 27,650 shares of 3%, $25 par value preferred stock at $31 per share. Determine the amount of cash that Dee-Light will receive from each of these stock issuances. Issue Date Cash Received January 6 May 10 June 22 Recording in the Accounting System Journalize the entry to record the January 6 issuance of common stock. If an amount box does not require an entry, leave it blank or enter "0". Jan. 6 Journalize the entry to record the May 10 issuance of preferred stock. May 10 fill in the blank fill in the blank Journalize the entry to record the June 22 issuance of preferred stock. If an amount box does not require an entry, leave it blank or enter "0".…
- Caswell Corporation is authorized to issue 10,000 shares of common stock on December 31. It sells 8,000 shares at $16 per share. Required: Record the sale of the common stock, given the following independent assumptions: 3. The stock has no-par and no stated value.Rodriguez Corporation issues 17,000 shares of its common stock for $288,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet > A B C Record the issue of 17,000 shares of $16 par value common stock for $288,000 cash. Note: Enter debits before credits. Transaction 1 Cash General Journal Debit Credit >On May 23, Washburn Realty Inc. issued for cash 45,000 shares of no-par common stock (with a stated value of $4) at $16. On July 6, Washburn Realty Inc. issued at par value 12,000 shares of preferred 1% stock, $75 par for cash. On September 15, Washburn Realty Inc. issued for cash an additional 20,000 shares of no-par common stock (with a stated value of $4) for $22. Required:Journalize the entries to record the May 23, July 6, and September 15 transactions. 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.
- Alma Corp. issues 1,120 shares of $7 par common stock at $15 per share. When the transaction is journalized, credits are made to a.Common Stock, $7,840 and Paid-In Capital in Excess of Par—Common Stock, $8,960. b.Common Stock, $16,800. c.Common Stock, $8,960 and Paid-In Capital in Excess of Stated Value, $7,840. d.Common Stock, $7,840 and Retained Earnings, $8,960.On April 1, Blue Devil Inc. has 300,000 shares of $20 par value common stock that are issued and outstanding. The general ledger shows the following account balances relating to the common stock: Common stock $6,000,000 Paid-in capital in excess of par value 1,350,000 On April 20, Blue Devil splits its stock 5-for-2 and reduces the par value to $8 per share. a. How many shares of common stock are issued and outstanding immediately following the stock split? b. What is the balance in the Common Stock account immediately following the stock split?Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares of its $1 par value common stock for $40 per share. On June 30, Knapp declared a cash dividend of $2 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 200,000 of its own shares of stock for $50 per share. On December 22, Knapp resold 100,000 of these shares for $60 per share. Required: Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $6,000,000.
