Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y5, were as follows: Record on joumal page 10: 3 Issued 15.000 shares of $20 par common stook at $30, receiving cash. 15 Issued 4,00 shares of 580 par preferred $1 stock at $100. receiving cash. 1 Issued 500,000 of 10-year. 5% bonds at 104, with interest payable semiannually. 16 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, 100,000 shares of common stock were outstanding. no treasury shares Jan. Feb. May were held and 20,000 shares of preferred stock were outstanding. Journalize thia transaction as two separate entries. 28 Paid the cash dividends deciared on May 18. 1 Purchased 4% bonds issued by Solstice Corp. as an avaiable-for-sale investment for $300,150. 8 Purchased 8.000 shares of treasury common stock at $33 per share. Jun. 22 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 outstanding. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record. 20,000 shares of preferred stook had been issued. Jul. 11 Paid the cash dividends to the preferred stockholders. Aug. 27 Received $27.500 dividend from Pinkberry Co. investment in Jun. 22. Record on jourmal page 11: Oct. 1 Purchased S0,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of $375. The bonds are a heid-to-maturity investment. 7 Sold, at $38 per share. 2.600 shares of treasury common stock purchased on Jun. 8. 14 Received interest of 58,000 from the Solstice Corp. investment on Jun. 1.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y5, were as follows: Record on joumal page 10: 3 Issued 15.000 shares of $20 par common stook at $30, receiving cash. 15 Issued 4,00 shares of 580 par preferred $1 stock at $100. receiving cash. 1 Issued 500,000 of 10-year. 5% bonds at 104, with interest payable semiannually. 16 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, 100,000 shares of common stock were outstanding. no treasury shares Jan. Feb. May were held and 20,000 shares of preferred stock were outstanding. Journalize thia transaction as two separate entries. 28 Paid the cash dividends deciared on May 18. 1 Purchased 4% bonds issued by Solstice Corp. as an avaiable-for-sale investment for $300,150. 8 Purchased 8.000 shares of treasury common stock at $33 per share. Jun. 22 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 outstanding. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record. 20,000 shares of preferred stook had been issued. Jul. 11 Paid the cash dividends to the preferred stockholders. Aug. 27 Received $27.500 dividend from Pinkberry Co. investment in Jun. 22. Record on jourmal page 11: Oct. 1 Purchased S0,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of $375. The bonds are a heid-to-maturity investment. 7 Sold, at $38 per share. 2.600 shares of treasury common stock purchased on Jun. 8. 14 Received interest of 58,000 from the Solstice Corp. investment on Jun. 1.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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