Prepare the journal entries for the preceding transactions. (Credit account titles are automatically indented when the amount is entered. Donot indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titlesand enter O for the amounts. List all debit entries before credit entries.)Date Account Titles and ExplanationI IDebitCredit Oriole Co. had these transactions during the current period.June 12July 11Nov. 28Issued 56,000 shares of $3 stated value common stock for cash of $280,000.Issued 2,240 shares of $100 par value preferred stock for cash at $108 per share.Purchased 2,240 shares of treasury stock for $11,200.

Lets understand the basics.Journal entries are required in accounting because they provide a formal…

Answered: Oriole Co. had these transactions…

FINANCIAL ACCOUNTING

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Author:Libby

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Chapter1: Financial Statements And Business Decisions

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The following details taken from the books of DiDi Sdn Bhd for the year ending 31 December 2020. DiDi Sdn Bhd Statement Profit or Loss for the year ending 31 December 2020 (extract) RM RM Gross profit 44,700 Add : Discount received 410 Profit on sale of van 620 1,030 45,730 Less: Expenses Motor expenses 1,940 Wages 17,200 General expenses 830 Bad debts 520 Increase in allowance for doubtful debts 200 Depreciation : van 1,800 22,490 23,240 Statement of Financial Position as at 31 December 2019 2020 RM RM RM RM Non-current Assets Vans at cost 15,400 8,200 less Depreciation (5,300) (3,100) 10,100 5,100 Current Assets Inventory 18,600 24,000 Trade accounts receivables less provision*…
On January 1, Oriole Corporation had 61,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Issued 11,250 additional shares of common stock for $11 per share. Declared a cash dividend of $1.90 per share to stockholders of record on June 30. Paid the $1.90 cash dividend. Issued 5,000 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. Apr. 1 June 15 July 10 Dec. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to O decimal places, e.g.…
vi.3
11-06 AB: Can you Post to the stockholders’ equity accounts using T Accounts? Flounder Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 46,500 shares for cash at $53 per share. July 1 Issued 69,000 shares for cash at $57 per share.
Journal entry?
Refer to the following transactions. Sold 2,930 shares of $11 par value preferred stock at $14.00 per share. Declared the annual cash dividend of $2.1 per share on common stock. There were 9,000 shares of $1 par value common stock issued and outstanding throughout the year. Issued 3,400 shares of $9 par value preferred stock in exchange for a building when the market price of preferred stock was $13.5 per share. Purchased 120 shares of preferred stock for the treasury at a price of $14.00 per share. Sold 110 shares of the preferred stock held in treasury (see d) for $18 per share. Declared and issued a 16% stock dividend on the $1 par value common stock (see b) when the market price per share was $38. Prepare the journal entries to record each of the above transactions.
оттоn E11-2 Sagan Co. had these transactions during the current period. k and ck. Issued 80,000 shares of $1 par value common stock for cash of $300,000. June 12 July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. Instructions eg-on lo ade 000,06 bel noogio Prepare the journal entries for the Sagan Co. transactions. F412 Denland Cornontion is authorized to issue both preferred and common stock. The horno Jou
On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per share on June 10. The remaining 3,000 shares were sold on November 10 for $24 per share. a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank. Apr. 2 b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. June 10 Nov. 10
Prepare the appropriate general journal entries for the following treasury stock transactions of Aberdeen Inc. Oct. 15 Purchased 7,000 shares of its $15 par common stock for $70,000 and placed the stock in the treasury. Dec. 1 Sold 2,000 shares of the treasury stock for $18,000 cash. Dec. 31 Sold the remaining treasury stock for $56,000 cash.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: Record on journal page 10: Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 16 Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. 26 Paid the cash dividends declared on May 16. Jun. 8 Purchased 8,000 shares of treasury common stock at $33 per share. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Jul. 11 Paid the cash dividends to the preferred…
On May 10, the Martin Corporation issued 2,000 shares of $3.00 par value Common Stock for cash at $15.00 per share. Which of the following statements is true regarding this transaction? A) Cash is debited in the amount of $30,000 and Common Stock is credited for $30,000 B) Cash is debited in the amount of $6,000 and Common Stock is credited for $6,000 C) Cash is debited in the amount of $30,000 and Common Stock is credited for $6,000 D) Cash is debited in the amount of $36,000 and Common Stock is credited for $6,000 and Paid-in Capital in excess of par is credited for $30,000
prepare general journal entries for these transactions

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Oriole Co. had these transactions during the current period. June 12 July 11 Nov. 28 Issued 56,000 shares of $3 stated value common stock for cash of $280,000. Issued 2,240 shares of $100 par value preferred stock for cash at $108 per share. Purchased 2,240 shares of treasury stock for $11,200.