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

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

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...

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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 stock
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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.
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sing the following accounts and balances, prepare the “Stockholders’ Equity” section of the balance sheet. 100,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $70 par$4,900,000Paid-In Capital from Sale of Treasury Stock294,000Paid-In Capital in Excess of Par—Common Stock1,750,000Retained Earnings2,254,000Treasury Stock138,000 Balance SheetStockholders' Equity Paid-in capital: $fill in the blank 2 fill in the blank 4 Paid-in capital, common stock $fill in the blank 5 fill in the blank 7 Total paid-in capital $fill in the blank 8 Total $ Total stockholders' equity $
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(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