Smurf Industries issues 4,000 shares of $1 par value stock for equipment that has a clearly determined value of $11,000. What would be the journal entry for this transaction?
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A: Treasury stock: Shares which are bought back by the company from the open market are Treasury stock.…
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Q: Environmental Designs issues 4,000 shares of its $1 par value common stock at $18 per share. (1)…
A: Cash received = 4,000 shares x $18 = $72,000
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A: Shares are the fractional ownership interests in a corporation. Some businesses employ shares as a…
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A: Treasury stock is the entity's own shares which are bought back or repurchased by the entity from…
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A: No.Account Titles and ExplanationDebitCredita.Cash$125,000 Common Stock (500 x $10)$5,000…
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A: Solution:- Preparation of journal entry as follows under:-
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A:
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Q: A corporation issues 5,000 shares of $1 par value stock for some equipment with a clearly determined…
A: Introduction: Journals: Each and every business transactions are to be recording in journals.…
Smurf Industries issues 4,000 shares of $1 par value stock for equipment that has a clearly determined value of $11,000. What would be the
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- Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal entry to record this transaction should include the following: (check all that apply) Select one or more: a. debit "Common Stock" for $20,000. b. credit "Additional Paid-in Capital" for $250,000. c. debit "Cash" for $250,000. d. credit "Additional Paid-in Capital" for $230,000. e. credit "Common Stock" for $20,000. f. credit "Common Stock" for $250,000. g. credit "Additional Paid-in Capital" for $270,000.MJH Company issued 1000 shares of stock with a stated value of $10 per share for $17,000. The entry to journalize this would include: a credit to common stock of $10,000 a debit to common stock of $10,000 none of the above a credit to cash of $17,000Surfer Girl Clothing Company issues 1,000 shares of $1 par value common stock at $25 per share. Later in the year, the company decides to purchase 100 shares at a cost of $28 per share. Determine the financial statement effects of the purchase of treasury stock. (Amounts to be deducted should be entered with minus sign.)
- Nebraska Inc. issues 2,300 shares of common stock for $73,600. The stock has a stated value of $12 per share. The journal entry to record the stock issuance would include a credit to Common Stock for a.$73,600 b.$27,600 c.$2,300 d.$46,000Prepare the journal entry to record Rony Company's issuance of 35,000 shares of its common stock assuming the share have a : a. $4par value and sell for $16 cash per share b. S4 stated value and sell for $16 per share.Trenton Company's common stock carries a par value of $ 1.00 per share. The company is authorized to issue an additional 32000 shares of common stock. What would the journal entry be for the issuance of 4000 shares of common stock at $ 1.75 per share?
- Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for:Nebraska Inc. issues 2,750 shares of common stock for $88,000. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock forPrepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for: a. $5 cash per share. b. $6 cash per share. View transaction list Journal entry worksheet 1 > Record the issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share. Note: Enter debits before credits. 3/ F6 F7 F8 F9 F10
- Prepare the journal entry to record Jevonte Company’s issuance of 41,000 shares of its common stock assuming the shares have a: $3 par value and sell for $19 cash per share. $3 stated value and sell for $19 cash per shareSheridan Company issued 1000 shares of no-par common stock for $4000. Which of the following journal entries would be made if the stock has stated value of $2 per share?Nebraska Inc. issues 4,200 shares of common stock for $134,400. The stock has a stated value of $14 per share. The journal entry for the stock issuance would include a credit to Common Stock for a. $4,200 b. $75,600 c. $58,800 d. $134,400
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