Stellar Corporation issued 354 shares of $10 par value common stock and 143 shares of $50 par value preferred stock for a lump sum of $19,242. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance.

Q: On June 1, Riverbed Inc. issues 3,250 shares of no-par common stock at a cash price of $10 per…

A: Date Accounts Title and explanation Debit Credit June 1 Cash (3250*10) $32,500           Common…

Q: Sneed Corporation issues 13,300 shares of $46 par preferred stock for cash at $61 per share. The…

A: Whenever the preferred stock shares are issued at premium i.e above their par value, the par value…

Q: The Sneed Corporation issues 10,900 shares of $49 par preferred stock for cash at $63 per share. The…

A: Share capital: It refers to the cap[ital raised by the company by issuing common stock or preferred…

Q: Riverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Journal entries refer to the process of systematic documentation of the financial transactions of a…

Q: Pina Colada Corporation issued 1,900 shares of stock. Prepare the entry for the issuance under the…

A: The common shares refer to the shares issued to investors and business owners and the share is proof…

Q: On May 10, Bramble Corp. issues 1,200 shares of $7 par value common stock for cash at $12 per share.…

A: Journal: Recording of a business transactions in a chronological order.

Q: Based on the following information, prepare journal entries for Windgate Corporation. Mar. 7 Issued…

A: Journal entries are the primary records of accounting transactions in the double-entry bookkeeping…

Q: Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance…

A: Journal entries are the reporting of the daily business transactions in the books of accounts. These…

Q: Corporation issued 2,000 shares of stock. Prepare the journal entry for the issuance under the…

A: Par value is the face value of a stock which is stated in the corporate charter of the concerned…

Q: XYZ Company issues 5000 shares of stock for $30/share. The stock has a par value of $5/share. The…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: Skysong Inc. issues 500 shares of $ 10 par value common stock and 100 shares of $ 100 par value…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Nexis Corp. issues 2,470 shares of $11 par value common stock at $16 per share. When the transaction…

A: The excess amount over the par value of a common stock is considered as paid-in capital in excess of…

Q: ABC Corporation issued 5,000 shares of $10 par value common stock for $15 per share. Prepare the…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company…

A: Treasury stock is the stock of the entity which is repurchased by it from the market. It is done…

Q: Marigold Inc., issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: On May 10, Bramble Corp. issues 1,200 shares of $7 par value common stock for cash at $12 per share.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Nexis Corp. issues 1,980 shares of $10 par value common stock at $16 per share. When the transaction…

A: The objective of the question is to determine the correct journal entry for the issuance of common…

Q: Alma Corp. issues 2,150 shares of $9 par common stock at $15 per share. When the transaction is…

A: When the share is issued at an excess price than a par value of a share, it is recorded to the…

Q: Shamrock, Inc. issues 9,100 shares of $106 par value preferred stock for cash at $114 per share.…

A: Total amount received = No. of shares issued x Issue price per share = 9,100 shares x  $114 per…

Q: On June 1, Noonan Inc. issues 3,550 shares of no-par common stock at a cash price of $9 per share.…

A: All the transactions of an entity are properly accounted by making corresponding journal entries in…

Q: Skysong Inc. issues  500 shares of $ 10 par value common stock and  100 shares of $ 100 par value…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Columbia Clay, Inc. issues 1.18 million shares of preferred stock with a par value of $11.00 at its…

A: It is pertinent to note that when preferred stock is issued at a premium then the journal entry…

Q: Ivanhoe Corporation issued 341 shares of $10 par value common stock and 145 shares of $50 par value…

A: Journal entry to record the issuance:: Cash account Dr::$19188...      To Common stock…

Q: On September 10th, Grape Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of…

A: When the shares are issued at a higher price than the face value, Are Issued at Premium.

Q: Nebraska Inc. issues 4,150 shares of common stock for $132,800. The stock has a stated value of $18…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for the…

Q: Whispering Winds Corp. issued 2,800 shares of stock. Prepare the entry for the issuance under the…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: To expand operations, Aragon Consulting issued 1,550 shares of previously unissued common stock with…

A: The objective of the question is to understand the accounting entries for the issuance of common…

Q: Vaughn Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Journal entries are the primary reporting of the business transactions in the books of accounts.…

Q: Nash Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred…

A: Common Stocks and Preferred Stocks are the form of equity issued by an organization to raise funds.…

Q: The ABC Corporation issued 25,000 shares of common for a Building with a market value of $250,000.…

A: The stock seems to be an ownership part of a company that represents a claim on its assets and…

Q: Sierra Systems completed the following stock issuance​ transactions: More info May 19…

A: Journal Entries - Journal Entries are the records of the transactions entered by the organization…

Q: Sheridan Corporation issued 335 shares of $10 par value common stock and 103 shares of $50 par value…

A: Given information is: Common stock shares = 335 shares  Preferred Stock shares = 103 shares

Q: The Sneed Corporation issues 11,100 shares of $54 par preferred stock for cash at $62 per share. The…

A: The company can raise funds from different sources like by issuing common stock, issuing preferred…

Q: Lily Corporation issued 5,400 shares of stock. Prepare the entry for the issuance under the…

A: S.No.      Particulars.           Debit($)     Credit($) A).           Cash.…

Q: Each of the following scenarios pertains to the issuance of common stock. For each of these…

A: A company issue its shares to the investors for the purpose of raising capital to start its Business…

Q: (a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (b) The…

A: A journal entry is a record of a company's business activity that is retained in the company's…

Q: Pharoah Inc. issued 12900 shares of no-par common stock with a stated value of $5 per share. The…

A: A journal entry records a business transaction in the accounting system of a company. Journal…

Q: 1. Journalize Top Dog, Inc.'s declaration of the stock dividend on May 15 and distribution on May…

A: A stock dividend is a way to distribute the wealth of the company to the shareholders. Stock…

Q: On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for the…

Q: April, Inc. issued 7,000 shares of preferred stock for $448,000. The stock has a par value of $64…

A: No of Shares Issued = 7,000 Total Cash received = $448,000 Cash received per Share = $448,000/7,000…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.