On May 10, Whispering Winds Corporation issues 2,950 shares of $10 par value common stock for cash at $22 per share.Journalize the issuance of the stock. (List all debit entries before credit entries. Credit account titles are automatically indented when dinountis entered. Do not indent manually.)Date Account Titles and ExplanationMay 10IDebitCredit

Face value of the share is the stock value given to the shares and printed in the share certificate.…

Answered: On May 10, Whispering Winds Corporation…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Record the issuance of the preferred shares?
15
Journalize all the transactions for the month of June
Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $96,000 on a corporation's common stock are October 1, November 7, and December 15. Journalize the entries required on each date. If no entry is required, choose "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Oct. 1 Nov. 7 Dec. 15
Journalize Transactions Four transactions that occurred during June are listed below. a. June 1: Issued common stock to several investors for $68,000. b. June 8: Purchased equipment for $12,300 cash. c. June 15: Made cash sales of $21,400 to customers. d. June 29: Paid a $6,800 dividend to stockholders. Required: Prepare journal entries for the transactions. June 1 (Record issuance of common stock) 8. (Record purchase of equipment) 15 (Record cash sale) 29 COnelarodand.naid.canhdisaistondel Check My Work 3 more Check My Work uses remaining All work saved. 00 00
Stock transactions for Cautious Driving School, Inc. follow: i (Ok the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) WIE Mar. 4: Issued 20,000 shares of $1 par value common stock at $15 per share. Date Accounts and Explanation Mar. 4 Debit Credit
Help
Preparing Entry to Issue Common Stock with Stock Issue Costs On January 1, Vera Clothing Inc. issued 5,000 shares of common stock, $5 par for $100,000. Related to this issuance, the company incurred legal and accounting fees of $2,500 and administrative fees of $2,500. Prepare the journal entry on January 1. Account Name Date Jan, 1 Cash Common Stock Paid-in Capital in Excess of Stated Value-Common Stock To record the issuance of stock. V Dr. 95,000 0 0 Cr. 0 5,000 90,000
Give me correct answer with explanation.m Don't upload any image
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…
Qw.30.
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)

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

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