The ABC Corporation issued 25,000 shares of common for a Building with a market value of $250,000. The Par Value of the common stock is $2.00 and the current market price is $5.00. Required: Record the Journal Entry for the issuance of the stock.
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The ABC Corporation issued 25,000 shares of common for a Building with a market value of $250,000.
The Par Value of the common stock is $2.00 and the current market price is $5.00.
Required:
Record the
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- Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet 2 3 Record the issue of 12,000 shares of $16 par value common stock for $236,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalFortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 38,000 shares at $9 share. Jun. 10 Issued 120,000 shares in exchange for land with a clearly determined value of $830,000. Aug. 3 Purchased 10,000 shares of treasury stock at $8 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31 __________ __________ __________ __________ __________ __________ Jun. 10 __________ __________ __________ __________ __________ __________ Aug. 3 __________ __________ __________ __________ B. Calculate how many shares of stock are outstanding at August 3. __________ sharesodriguez Corporation issues 10,000 shares of its common stock for $146,700 cash on February 20. Prepare journal entries to record his event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet A B Record the issue of 10,000 shares of $12 par value common stock for $146,700 cash. Transaction 1 C Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
- Osage Corporation issued 2,000 shares of common stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. (c) The stock had no par or stated value and was issued for a total of $52,000. (d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000. (e) The stock had a par value of $5 per share and was issued for land worth $52,000.A corporation purchased for cash 5,000 shares of its own $10 par common stock at $25 a share. In the following year, it sold 2,000 of the treasury shares at $28 a share for cash. (a) Journalize the entries to record the purchase (treasury stock is recorded at cost). (b) Journalize the entries to record the sale of the stock. (for each Journal Entry, omit the step of providing a brief explanation) JOURNAL Date Post. DR CR (a) (b)hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital—Common Stock account for $1,060,800. Required: How many shares were issued?fill in the blank 1 shares
- Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $18 par value. 2. The stock has neither par nor stated value. 3. The stock has a $9 stated value. View transaction list Journal entry worksheet A В Record the issue of 8,000 shares of $18 par value common stock for $161,400 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalMcVie Corporation’s stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 350,000 shares at $6 share. Jun. 7 Issued 94,000 shares in exchange for equipment with a clearly determined value of $209,000. Sep. 19 Purchased 2,500 shares of treasury stock at $8 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.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 share
- Riley Inc.'s charter authorizes 1,000 shares of stock at a stated value of $10 per share. Riley issues 50 shares of stock at its initial offering for $20 per share. The journal entry to record this transaction will include a (debit/credit) to Common Stock, $ .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. $134,400Concordia Corporation has 96,900 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10. b) Provide the required journal entries on the appropriate dates to record the stock dividend. Only provide account names as the dollar amount has already been calculated in part a). (If no entry is required, select "No Entry" for the account titles.) December 1 Dividends Declared Dividends Payable Stock Dividends Distributable Common Shares Preferred Shares Retained Earnings Cash No Entry