Need answer 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.

Problem 1:When RST Company issues common stock, it receives cash. The cash received increases the…

Answered: RST Company issues common stock for…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

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 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
Prepare the journal entry to record Zende Company's issuance of 84,000 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 1 Record the issuance of 84,000 shares of $8 par value common stock assuming the shares sell for $8 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal Saved >
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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 >
Puget Sound Co. sold marketable securities costing $80,000for $92,000 cash. In the company’s income statement andstatement of cash flows, respectively, this will appear as:a. A $12,000 gain and a $92,000 cash receipt.b. A $92,000 gain and an $8,000 cash receipt.c. A $12,000 gain and an $80,000 cash receipt.d. A $92,000 sale and a $92,000 cash receipt.
Mario's Fencing has the following balance sheet: Assets Cash: $100,000 Accounts Receivable: $300,000 Fixed Assets: $600,000 TOTAL assets: $1,000,000 Liabilites: Accounts Payable: $150,000 Notes Payable: $50,000 CAPITAL ACCOUNTS Common Stocks (50,000 shares @ $2 par): $100,000 Captial in excess of par: $200,000 Retained earnings: $500,000 TOTAL: $1,000,000 The company's stock sells for $10 a share: A. Show the effect on the capital account(s) of a two-for-one split, breaking down by common stock, capital excess of par, and retained earnings. B. Show the effect on the capital accounts of a 10 percent stock dividend, breaking down by common stock, capital excess of par, and retained earnings. (Part b is separate from part a. Part b, assume the stock split has NOT taken place). C. Based on the balance in retained earnings, which of the two dividend plans is more restrictive on future cash dividends?
Subject : Accounting

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