Prepare entries to record the following: (Must use proper journal format) (a) Issued 1,000 shares of $5 par common stock at $36. (b) Issued 1,400 shares of $5 par common stock in exchange for equipment with a fair market price of $19,000. (c) Purchased 100 shares of treasury stock at $25. (d) Sold 80 shares of treasury stock purchased in (c) at $30
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Prepare entries to record the following: (Must use proper journal format)
| (a) | Issued 1,000 shares of $5 par common stock at $36. |
| (b) | Issued 1,400 shares of $5 par common stock in exchange for equipment with a fair market price of $19,000. |
| (c) | Purchased 100 shares of |
| (d) | Sold 80 shares of treasury stock purchased in (c) at $30 |
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- Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stockA corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cash
- 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.Prepare entries to record the following: a. Issued 1,000 shares of $10 par common stock at $56. If an amount box does not require an entry, leave it blank or enter "0".Present entries to record the following: Issued 1,000 shares of $15 par common stock at $52 for cash. Issued 1,400 shares of common stock in exchange for equipment with a fair market price of $21,000. Purchase 100 shares of treasury stock at $25. Sold 100 shares of treasury stock at $28.
- Prepare entries to record the following:(a) Issued 1,000 shares of $10 par common stock at $56.(b) Purchased 100 shares of treasury stock at $25.1. Journalize the following transactions: (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.Prepare entries to record the transactions for Maine Corp.: (a) Issued 2,000 shares of $10 par common stock at $72 for cash. (b) Issued 2,500 shares of common stock in exchange for land with a fair market price of $130,000. (c) Purchased 400 shares of treasury stock at $70. (d) Sold the 400 shares of treasury stock purchased in (c) at $76.
- A corporation purchased for cash 5,000 shares of its own $10 par common stock at $25 a share. In the following year, it sold 2,000 of the treasury shares at $28 a share for cash. (a) Journalize the entries to record the purchase (treasury stock is recorded at cost). (b) Journalize the entries to record the sale of the stock. (for each Journal Entry, omit the step of providing a brief explanation) JOURNAL Date Post. DR CR (a) (b)Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journalVaughn Company had the following transactions. 1. 2. Issued 4,600 shares of common stock with a stated value of $10 for $131,000. Issued 2,200 shares of $100 par preferred stock at $110 for cash. Prepare the journal entries to record the above stock transactions. (List all debit entries before automatically indented when the amount is entered. Do not indent manually.)
