Question 1A: Kohinoor Company Ltd. completed the following transactions. The par value of company’s share is Rs.10 each. March 23: Issued 6, 000 shares at par each to the promoters of the company. April 09: Purchased an equipment costing Rs.52, 000, issuing 3, 250 shares at Rs. 10 each. June 10: Issued 3, 000 shares of Rs.10 each for equipment purchased worthRs.28, 500. Instructions: Give the journal entries to record the above issuance.

Q: On January 23, 16,000 shares of Tolle Company are acquired at a price of $24 per share plus a $160…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: The shares issued at the higher amount as compared to par value are the shares issued at premium.…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: Journal entries? Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Redwood Products Inc. is a wholesaler outdoor camping. The company began operations on January 1,…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: The following selected transactions pertain to Ehrlich Corporation: Jan.     3     Issued 90,000…

A: The journal entries are prepared to record the transactions on regular basis. The shares can be…

Q: following ansactions mad by Snap Company. a. Prepare journal entries for the following transactions:…

A: Treasury stock which can commonly referred to as the reacquired stock, is the stock which has been…

Q: Sudoku Company issues 28,000 shares of $8 par value common stock in exchange for land and a…

A: JOURNAL ENTRIESJournal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: ed 16,000 common shares of Heller Co. at $16 cash per share. a cash dividend of $1.25 per common…

A: Accounting equation :The accounting equation states that the total assets will equal the sum of…

Q: January 5:     Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at…

A: Any cash received in excess of par value of the share goes to Paid-in capital - excess of par.

Q: Record the issuance of 2,400 shares of $20 par value common stock for $43,000 of inventory, $155,000…

A:

Q: Calculate the weighted average number of shares which will be used in the calculation of earnings…

A: Weighted average number of shares is the average of the shares which were outstanding during the…

Q: During a job interview, Pam Thompson is offered a salary of $41,000. The company gives annual raises…

A: Salary is the amount which is paid by the employer to their employees to do their job. It is an…

Q: in Carter for $37 per share. Required Prepare the journal entry at December 31, Year 6, to…

A: Any investment which is having the control over the other company requires a different treatment in…

Q: Farmers Incorporated issued 6,000 shares of its $10 par value common stock in exchange for land that…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: The number of shares traded in the market for Company (S) amounted to 100,000 ordinary shares with a…

A: The journal entries are prepared to record the transactions on regular basis. The treasury stock…

Q: Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake…

A: The own shares purchased are known are treasury stock. Treasury stock shall be debited when its own…

Q: Sep. 6 Issued 500 shares of common stock to the promoters who organized the corporation, receiving…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: On January 23, 15,000 shares of Tolle Company are acquired at a price of $25 per share plus a $145…

A: Introduction: A journal entry is used to disclose a business deal in a company's accounting records.…

Q: On January 1, Bonneau Corp purchased 90,000 shares of Crossley, Inc stock for $50 each. Crossley has…

A: The investment is reported as the assets in the business. The dividend share decreases the…

Q: Company purchased 5,000 of its own shares at $50 per share.

A: The total amount of shares to be purchased =$50*5000 =250000.

Q: unland Company had these transactions during the current period. June 12 Issued 84,000 shares of $1…

A: Journal entry :It is a method of recording transactions in the book of original entries by debiting…

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: On February 22, Stewart Corporation acquired 7,200 shares of the 200,000 outstanding shares of…

A: Costing method highlights Under the Costing method cost of the investment in securities is recorded…

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.