Prepare entries to record the following: (a) Issued 1,000 shares of $10 par common stock at $59 for cash. (b) Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $60,000. (c) Purchased 100 shares of treasury stock at $32. (d) Sold the 100 shares of treasury stock purchased in (c) at $42.

Q: provide detailed solution..

A: The corporation purchased 6,000 shares of its own stock at $27 per share. To calculate the total…

Q: Account Titles and Explanation Debit Credit Choose a transaction date…

A: Journal entry: Journal entry is a set of economic events which can be measured in financial terms.…

Q: If Company issues 3,000 shares of $8 par common stock for $51,000, a. Common Stock will be credited…

A: To record issue of common stock for cash, As cash is received, therefore same will be debited;…

Q: Record each of the following transactions and events of Hertz Note: Round to nearest whole dollar.…

A: In accounting, a journal is a chronological record of all financial transactions that occur in a…

Q: On May 3, Zirbal Corporation purchased 7,000 shares of its own stock for $49,000 cash. On November…

A: recording of journal entry of above transaction are as follows

Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

Q: Based on the following information, prepare journal entries for Windgate Corporation. Mar. 7 Issued…

A: Journal entries are the primary records of accounting transactions in the double-entry bookkeeping…

Q: e entries

A: a. Date Account titles and explanation Debit Credit Apr. 2 Treasury stock(7000 * $26) $182,000…

Q: Faceoff, Inc. identified the following selected transactions that occurred during the year ended…

A: Activities related to investing and finance that don't involve cash include transactions when a…

Q: Llewelyn Company purchased 3,600 shares of its own $8 par value common stock when the market price…

A: To create a journal entry, you enter transaction details into ones company's books. Your journal…

Q: A company issued 60 shares.of $100 par value common stock for $7,100 cash. The journal entry to…

A: Lets understand the basics. Journal entry is required to make to record event and transaction occur…

Q: 1. Journalize the following transactions: (a) Issued 1,000 shares of $10 par common stock at $59 for…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: What is included in the journal entry to record the repurchase of 300 common shares to hold them in…

A: Treasury shares are the shares which are repurchased by the entity from the market which are…

Q: On May 15, the Simple Corporation issued 6,000 common shares of $8.00 par value stock for land…

A: The organization can raise fund for the operation song integrity by issuing common stock, preferred…

Q: Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common…

A:

Q: Furniture, Inc. report treasury stock on its balance sheet as of December

A: Treasury stock refers to repurchase of outstanding stock re purchased by issuing company from it's…

Q: (a) A corporation issues 8,000 shares of its $1 par value common stock to provide funds for further…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February…

A: Journal entry is one of the processes of the accounting cycle. In the journal entry, the…

Q: Land appraised at $65,600 is purchased by issuing 820 shares of $20 par value common stock. The…

A: Land is purchased while share has been issued in exchange of land . In that situation , we need to…

Q: If Dakota Company issues 3,000 shares of $9 par common stock for $45,000, a.Paid-In Capital in…

A: Paid-up capital is that part of capital which is paid by the shareholders. The capital is raised…

Q: Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal…

A: Cash (10,000 x $25) 250,000     Common Stock (10,000 x $2)   20,000   Additional Paid-in Capital…

Q: Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was…

A: Shares are a mean of raising capital from the shareholders. Shares can be ordinary shares or…

Q: On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per…

A: Apr, 2 Treasury Stock $196,000               Cash   $196,000

Q: Prepare the appropriate general journal entries for the following treasury stock transactions of…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: Prepare the journal entry to record Zende Company's issuance of 84,000 shares of $8 par value common…

A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for…

Q: have a: par value and sell for $19 cash per share. stated value and sell for $19 cash per shar

A: Answer : Date Account title Debit Credit 1 Cash a/c Dr. (41000*$19) $779,000     To common…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.