Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a:a. $4 par value and sell for $14 cash per share.b. $4 stated value and sell for $14 cash per share.View transaction listJournal entry worksheet1Record the issuance of 36,000 shares of common stock assuming the shareshave a $4 par value and sell for $14 cash per share.2Note: Enter debits before credits.Transactiona.Record entryGeneral JournalClear entryDebitCreditView general journal

Journal entry :— It is an act of recording transaction in books of account when it is occurred.…

Answered: Prepare the journal entry to record…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare journal entries to record each of the following four separate issuances of stock.
Complete the following problem Jan. Issued 1,000 shares of Common Stock, $2 par for $12 per share. Record the journal entry. Date Description Post. Ref. Debit Credit March Issued 3,000 share of Common Stock, $2 par for $15 per share. Record the journal entry. Date Description Post. Ref. Debit Credit April Issued 5,000 share of Common Stock, $2 par for $17 per share. Record the journal entry. Date Description Post. Ref. Debit Credit…
A corporation issues 3,100 shares of common stock for $99,200. The stock has a stated value of $15 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $46,500 $3,100 $99,200 $52,700
Nexis Corp. issues 1,900 shares of $12 par value common stock at $17 per share. When the transaction is recorded, what credit entry or entries are made?
When a company issues 27,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include: Multiple Choice A credit to Common Stock for $1,350,000. A credit to Additional Paid-in Capital for $1,215,000. A debit to Additional Paid-in Capital for $135,000. A debit to Cash for $135,000.
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
Please answer competely
Stevie Systems completed the following stock issuance transactions: i (Click the icon to view the transactions.) Requirements 1. Journalize the transactions. Explanations are not required. 2. How much paid-in capital did these transactions generate for Stevie Systems? Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) June 19: Issued 1,100 shares of $3 par common stock for cash of $13.00 per share. Journal Entry Date Jun More info Jun Jul 19 11 Accounts *** Print Debit 19 Issued 1,100 shares of $3 par common stock for cash of $13.00 per share. 3 Sold 340 shares of $3.50, no-par preferred stock for $17,000 cash. Received inventory with a market value of $28,000 and equipment with market value of $11,000. Issued 3,000 shares of the $3 par common stock in exchange. Credit Done
Company Z has 2.4 million shares of common stock authorized with a par value of $1 and a market price of $58. There are 1.2 million outstanding shares and 0.3 millión shares held in treasury stock Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100% stock dividend. d. Show the effect of the 100% stock dividend on assets, liabilities, and stockholders' equity. Complete this question by entering your answers in the table below. Required A Required B Required C Required D Prepare the journal entry if the company declares and distributes a 10% stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars and not in millions.) View transaction list Journal entry worksheet Record…
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.
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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

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