Sam Inc. issues 1,000 shares of $5 par value common stock when 500 shares of $30 par value preferred stock were converted. The preferred stock was originally issued at $50 per share. Record the conversion of the preferred stock
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Sam Inc. issues 1,000 shares of $5 par value common stock when 500 shares of $30 par value
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- Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $32 per share. Record the issuance of the preferred shares.Bramble Corporation issued 2,200 shares of $10 par value common stock upon conversion of 1,100 shares of $50 par value preferred stock. The preferred stock was originally issued at $57 per share. The common stock is trading at $25 per share at the time of conversion.Record the conversion of the preferred stock.● On January 1, Vermont Corporation had 46,700 shares of $10 par value common stock issued and outstanding. All 46,700 shares had been issued in a prior period at $22 per share. On February 1, Vermont purchased 990 shares of treasury stock for $28 per share and later sold the treasury shares for $20 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a O debit to Treasury Stock for $27,720. O credit to a gain account for $5,940. O credit to Treasury Stock for $27,720. O debit to a loss account for $5,940.
- Journalize the following transaction: Mining corporation is authorized to issue 50,000 shares of $500 par value 7% preferred stock. It's also authorized to issue 5,000,000 shares of $3 par value common stock. In its first year, the corporation has the following transaction: 1-May issued 3,000 shares of preferred stock for Cash at $750 per share. 23-May issued 6,000 shares of common stock at $12.50 Per share. Jun.10 issued 5,000 shares of common stock for equipment without a readily determinable value. The stock is currently trading at $11 per share. Journalize the transactionsOn April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a share. It sold 4,000 of the treasury shares at $30 a share on June 10. The remaining 2,000 shares were sold on November 10 for $23 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 Treasury Stock Treasury Stock Cash Cash Question Content Area 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 - Select - - Select - - Select - - Select - - Select - - Select - Nov. 10 - Select - - Select - - Select - - Select - - Select - - Select -Owe
- California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to purchase 100 shares at a cost of $23 per share. Record the transaction if California Surf resells the 100 shares of treasury stock at $25 per share. Record the sale of treasury stock.please give correct ansswerIssuing and Repurchasing Stock Redbird, Inc., had the following transactions related to its common and preferred stock: March 22 Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. Repurchased 3,040 shares of the common stock at $20 per share. November 9 Required: Prepare the journal entries for these transactions. If an amount box does not require an entry, leave it blank. Mar. 22 Nov. 9 00 00
- Sandhill Storage Products purchased 11600 shares of its own $0.75 par value common stock at a cost of $8 per share. The stock was originally issued at $7 per share. Which of the following is part of the journal entry to record the purchase? Credit Common Stock for $92800. O Debit Treasury Stock for $8700. Debit Treasury Stock for $92800. O Credit Common Stock for $8700.Please show all work and answers: 1. On January 1st, ZYX company purchased 1,000 shares of its own stock at $37 per share. On January 20th, ZYX later reissues or sells 199 shares of treasury stock for $12 per share. On January 20th, the balance in Additional paid in capital-Treasury stock is credit balance of $0. What is the amount debited to Retained earnings on January 20th? 2. ABC issues 14,000 shares of common stock to investors on January 1 for cash, with the investors paying cash of $24 per share. The par value of the stock is $5 per share. What is the amount applied to additional paid in capital? 3. On January 1st, ABC company issues a stock dividend of 18%. ABC has 101,000 shares outstanding with a par value of $1. ABC also has 210,000 shares authorized. The market price per share January 1st is $32. What is number of new shares issued for stock dividend? 4. On January 1st, ZYX company purchased 1,200 shares of its own stock at $36 per share. On January 20th, ZYX later reissues…The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $62 per share. The entry to record the transaction will consist of a debit to Cash for $620,000 and a credit or credits to a. Preferred Stock for $620,000. Ob. Preferred stock for $500,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $120,000. Oc. Preferred Stock for $500,000 and Retained Earnings for $120,000. Od. Paid-in Capital from Preferred Stock for $620,000.
