Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. View transaction list Journal entry worksheet 1 > Record the issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share.

Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. View transaction list Journal entry worksheet 1 > Record the issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

ore Info re info May 19 Jun. 3 Jun. 11 Issued 1,300 shares of $1 par value common stock for cash of $11.50 per share. Isssued 240 shares of $5, no-par preferred stock for $12,000 cash. Received equipment with a market value of $68,000 in exchange for 11,000 shares of the $1 par value common stock.
Record entries for each of the following separate issuances of stock. 1. Issued 390 shares of $100 par value common stock for $40,950 cash. 2. Exchanged 890 shares of no-par common stock for $13,400 in legal services incurred in the organization of the company. View transaction list A Issued 390 shares of $100 par value common stock for $40,950 cash. B Exchanged 890 shares of no-par common stock for $13,400 in legal services incurred in the organization of the company. EX ebit Credit >
Hh1.
Foley Co. bought 50 shares of its stock for $8 per share to be held as Treasury Stock. Record this transaction. Edit View Insert Format Tools Table
A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,000. A debit to Cash for $135,00.
Prepare the journal entry to record Autumn Company’s issuance of 63,000 shares of no-par value common stock assuming the shares a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000.
If Dakota Company issues 3,000 shares of $9 par common stock for $45,000, a.Paid-In Capital in Excess of Par will be credited for $27,000. b.Paid-In Capital in Excess of Par will be credited for $18,000. c.Cash will be debited for $27,000. d.Common Stock will be credited for $45,000
Requirement 1. Record the transactions in Halborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)\\nJan. 16: Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.40 per share dividend on the 80,000 shares of $8 par value common stock outstanding. The date of record is January 31, and the payment date is February 15.
XYZ Company declared a $.50 dividend on common stock. (Pretend there are 1,000 common shares outstanding. Journalize this transaction. DATE Debit Credit X/X XYZ Company paid the dividends declared above. Journalize this transaction. DATE Debit Credit X/X
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.
1. Prepare the journal entry to record Tamas Company's issuance of 5,000 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Tamas Company's issuance of 5,000 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. View transaction list Journal entry worksheet A ... ... ....*...... 8:41 3/27/2 Insert Prt Sc F7 F8 F9 F10 F11 F12 Fn F3 F4 F5 F6 + Lock
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $32 per share. What is the correct entry to record the stock issuance? O a. Debit to Cash, $32,000; Credit to Preferred Stock, $32,000 O b. Debit to Cash, $32,000; Credit to Additional Paid-in Capital, $32,000 O C. Debit to Cash, $32,000; Credit to Common Stock, $31,990; Credit to Additional Paid-in Capital, $10 O d. Debit to Cash, $32,000; Credit to Preferred Stock, $10; Credit to Additional Paid-In Capital-Common Stock, $31.990