paws recieved 30,000 cash and issued common shares to shareholders
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paws recieved 30,000 cash and issued common shares to shareholders
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- please answer do not image.A corporation sold 9,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction. would include: Multiple Choice A debit to Cash for $90,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $117,000. A credit to Common Stock for $117,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $207,000. A credit to Common Stock for $90,000.on may 15, the simple corporation issued 6,000 common shares of $8 par value stock for land valued at $120,000. common stock will be credited $48,000
- 25 )EhrlichCo. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $40,000 for services performed in helping the company to incorporate.June 12 Issued 60,000 shares of $5 par value common stock for cash of $365,000.July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Aug. 15 Issued 20,000 shares of common stock for a building with an asking price of $150,000 and a fair value of $140,000Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Dec. 15 Sold 500 shares of the treasury stock for $45 per shareInstructions: 1. Journalize the transactions. 2. Prepare the stockholders' equity section of the balance sheet. Use the following example as a guide. For Retained Earnings for this example, you can use $1,050,000. Stockholders’ equity Paid-in capital: Capital stock: 9% preferred stock, $100 par value,…C D B A Evon, a limited liability company, issued 1,000,000 ordinary shares each with a nominal value of 25 cents at a price of $1.10 per share, all received in cash. What should be the accounting entries to record this issue of shares? $1,100,000 $250,000 $850,000 Debit Cash Credit Share Capital Credit Share Premium Debit Share Capital Debit Share Premium Credit Cash Debit Cash Credit Share Capital Debit Cash Credit Share Capital Credit Retained Earnings $250,000 $850,000 $1,100,000 $1,100,000 $1,100,000 $1,100,000 $250,000 $850,000
- The Board of Directors of ABC Corporation declared a dividend on March 6, 2XX1, to shareholders of record on April 7, 2XX1, P18 per share, payable on May 1, 2XX1. 100,000 ordinary shares were outstanding from March 6 to April 28 and 110,000 ordinary shares outstanding from April 29 to May 1. Compute for the total cash dividends distributed to shareholders.A company's board of directors votes to declare a cash dividend of $1.15 per share of common stock. The company has 23,000 shares authorized, 18,000 issued, and 17,500 shares outstanding. The total amount of the cash dividend is:ASAP!! Frankwood Company Ltd. was registered with the capital of Rs.5,000,000 divided into ordinary shares at par value each. The company offered to the public 15,000 shares payable in full on application. The bank informs that 25,000 shares applications were received. The company allotted the offered shares and refunded the amount received in excess. During the year the company completed the following transactions Issued further 5,000 shares at Rs. 18 each for cash Issued 7,000 shares to the promoters at par Purchased computers for Rs.40,000 and issued 3,000 shares Purchases a piece of land and issued 50,000 shares at Rs. 15 each Required Pass journal entries for Frankwood Company Ltd
- A company issues 20,000 common shares for $15 each. Later in the year, the same company issues another 35,000 common shares for $27 each. Two weeks later, it repurchases 5,000 shares for 19 per share. The entry to record the repurchase would be which of the following? Debit Cash for $95,000 & Contributed Capital - Retirement of Common Shares for $18,200, credit Common Shares for $113,200. Debit Common Shares for $95,000 & Retained Earnings for $18,200, credit Cash for $113,200. Debit Common Shares for $95,000, credit Cash for $95,000. Debit Common Shares for $113,200, credit Contributed Capital - Retirement of Common Shares for $18,200 & Cash for $95,000.The board of durectors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding. The journal entry for the dividend declaration would be:Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 12,000 shares but 2,000 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? The company pays the dividend on December 14. What is the journal entry to record the payment of the dividend?