? RST Company issues common stock for 80,000 cash.60,000 of the cash was usedto purchase land. As a result of these transactions: a. total assets increased by20000 b. total assets increased by 80000 c. total assets increased by 140000 d.none Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share.What is true about the journal entry to record the issuance? a. Credit CommonStock $300,000. b. Credit Cash $300,000. c. Credit Common Stock $15,000. d.Debit Additional Paid-In Capital $285,000.

1. RST Company TransactionsStep 1: RST Company received $80,000 in cash from issuing common stock.…

Answered: RST Company issues common stock for…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 3AP

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Tidwell Company experienced the following during 20X1: a. Sold preferred stock for 480,000. b. Declared dividends of 150,000 payable on March 1, 20X2. c. Borrowed 575,000 from a bank on a 2-year note. d. Purchased 80,000 of its own common stock to hold as treasury stock. e. Repaid 5-year bonds issued for 400,000 that mature and are due in December. Required: Prepare the net cash from financing activities section of the statement of cash flows.
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Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
Prepare the journal entry to record Autumn Company's issuance of 71,000 shares of no-par value common stock assuming the shares: a. Sell for $34 cash per share. b. Are exchanged for land valued at $2,414,000. View transaction list Journal entry worksheet 1 Record the issuance of 71,000 shares of no-par value common stock assuming the shares sell for $34 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >
Treasury stock that had been purchased for $4,760 last month was reissued this month for $5,640. The journal entry to record the reissuance would include a credit to a.Treasury Stock for $880 b.Paid-In Capital from Sale of Treasury Stock for $4,760 c.Paid-In Capital from Sale of Treasury Stock for $880 d.Paid-In Capital in Excess of Par—Common Stock for $880
Blossom Company had these transactions during the current period. June 12 Issued 83,500 shares of $1 par value common stock for cash of $313,125. July 11 Issued 2,800 shares of $101 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 3,350 shares of treasury stock for $8,450. Prepare the journal entries for the Blossom Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Elroy Corporation repurchased 3,200 shares of its own stock for $40 per share. The stock has a par of $20 per share. A month later, Elroy resold 800 shares of the treasury stock for $48 per share. Required a. Record the two events in general journal format. b. What is the balance of the treasury stock account after these transactions? Complete this question by entering your answers in the tabs below. Required A Required B Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Elroy Corporation repurchased 3,200 shares of its own stock for $40 per share. Record the transaction. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal
Prepare Balance Sheet for the year ended 2008 Prepare notes to the financial statements of all the possible figures. You can use only the figures given in the paper in order to prepare notes to the financial statements. Following is the information for Attock Cement limited. All the figures are in millions.Dividend to Preferred Stock Holders = Rs. 25/Share Cash and cash equivalents = $9000 Trade debt = $4000 Prepaid Insurance = $5,000 Land = $55,000Trade credit = $16,700Stock in trade = $5000Long term bank loan = $45,000Sales Revenue = $7,000 Gross Profit = $5,000, Operating expenses = $3000 Building = $3500 Mortgage loan = $3,500Current portion of liability against asset subject to finance lease = $10,000 Reserves = $30,000Marketable securities = $23,700 Asset subject to finance lease = $50,000 Issued, Subscribed and Paid-up Capital = $40,000 Authorized Capital = $100,000Long term portion of liability against asset subject to finance lease = $40,000
American Laser, Inc., reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation. Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings. Cash Common Stock, 10,000 shares of $1 part Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Requirement View transaction list General Journal
Sunland Company had these transactions during the current period. June 12 Issued 83,500 shares of $1 par value common stock for cash of $313,125. July 11 Issued 3,450 shares of $101 par value preferred stock for cash at $105 per share. Nov. 28 Purchased 2,950 shares of treasury stock for $8,450. Prepare the journal entries for the Sunland Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit choose a transaction date June 12July 11Nov. 28 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title…
Treasury stock that had been purchased for $5,600 last month was reissued this month for $8,500. The journal entry to record the reissuance would include a credit to: a.Paid-In Capital from Sale of Treasury Stock for $2,900 b.Paid-In Capital in Excess of Par-Common Stock for $2,900 c.Paid-In Capital from Sale of Treasury Stock for $8,500 d.Treasury Stock for $8,500

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