Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20. Prepare journalentries to record this event under each of the following separate situations.1. The stock has a $16 par value.2. The stock has neither par nor stated value.3. The stock has a $8 stated value.View transaction listJournal entry worksheet23Record the issue of 12,000 shares of $16 par value common stock for$236,000 cash.Note: Enter debits before credits.TransactionGeneral JournalDebitCredit1Record entryClear entryView general journal

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Answered: Rodriguez Corporation issues 12,000…

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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Subject :- Accounting
Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for: a. $5 cash per share. b. $6 cash per share. View transaction list Journal entry worksheet 1 > Record the issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share. Note: Enter debits before credits. 3/ F6 F7 F8 F9 F10
Dengar
Prepare the journal entry to record Jevonte Company’s issuance of 41,000 shares of its common stock assuming the shares have a: $3 par value and sell for $19 cash per share. $3 stated value and sell for $19 cash per share
On April 2 a corporation purchased for cash 5,000 shares of its own $15 par common stock at $26 a share. It sold 3,000 of the treasury shares at $29 a share on June 10. The remaining 2,000 shares were sold on November 10 for $22 a share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 Nov. 10 M Y ▼ ♥
Nebraska Inc. issues 4,200 shares of common stock for $134,400. The stock has a stated value of $14 per share. The journal entry for the stock issuance would include a credit to Common Stock for a. $4,200 b. $75,600 c. $58,800 d. $134,400
On April 2 a corporation purchased for cash 5,000 shares of its own $13 par common stock at $28 per share. It sold 3,000 of the treasury shares at $31 per share on June 10. The remaining 2,000 shares were sold on November 10 for $24 per share. Question Content Area a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank. Apr. 2 Question Content Area b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. June 10 Nov. 10
Wildhorse Corporation issued 420 shares of $10 par value common stock and 126 shares of $50 par value preferred stock for a lump sum of $18,900. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,125.) Account Titles and Explanation Cash Common Stock Preferred Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Debit 18900 000 Credit 4200 6300 6300 6461

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