Part 1:Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y5, were as follows:1. Journalize the selected transactions.If no entry is required, select "No entry required" from the dropdown. If an amount box does not require an entry, leave it blank.a. Issued 15,000 shares of $20 par common stock at $30, receiving cash.DescriptionDebitCreditCashb. Issued 4,000 shares of $80 par preferred $1 stock at $100, receiving cash.DescriptionDebitCreditc. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually.DescriptionDebitCreditd. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,0DescriptionDebitCreditCommon stock Preferred stocke. Paid the cash dividends declared in (d).DescriptionDebitCreditf. Purchased 4% bonds issued by Solstice Corp. as an available-for-sale investment for $300,150.DescriptionDebitCreditg. Purchased 8,000 shares of treasury common stock at $33 per share.DescriptionDebitCredith. Purchased 40,000 shares of Pinkberry Co.'s common stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstarDescriptionDebitCrediti. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued.DescriptionDebitCrediti. Paid the cash dividends to the preferred stockholders.

A journal entry is used to record the day-to-day transactions of an organization by debiting and…

Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y5, were as follows: 1. Journalize the selected transactions. If no entry is required, select "No entry required" from the dropdown. If an amount box does not require an entry, leave it blank. a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. Description Debit Credit Cash b. Issued 4,000 shares of $80 par preferred $1 stock at $100, receiving cash. Description Debit Credit c. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Description Debit Credit

Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y5, were as follows: 1. Journalize the selected transactions. If no entry is required, select "No entry required" from the dropdown. If an amount box does not require an entry, leave it blank. a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. Description Debit Credit Cash b. Issued 4,000 shares of $80 par preferred $1 stock at $100, receiving cash. Description Debit Credit c. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Description Debit Credit

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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