The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees fororganizing the corporation includes a credit toOa. Organizational Expenses.b. Cash.c. Goodwill.d. Common Stock.4:07 PM12/20/2019

Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Answered: The entry to record the issuance of 150…

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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Home work question accounting intermediate 11 stock and bonds journal entry on jan 1 2020 Thompson had 2 equity investment # of shares owned 200 cost per share $17 mkt value per share 12/31/2019 $23 what is journal entry
2. The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020 and that Mulatto Company's charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. Issued 100,000 shares of common stock. Stock has par value of per $0.60 share and was issued at $30.00 per share. Issued 14,000 shares of preferred stock at par value as payment in exchange for legal services. • Exchanged 260,000 shares of common stock for land with an appraised value of $650,000.00 and a building with an appraised value of $500,000.00 Earned Net income $900,000.00.) Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide:. A. Prepare Mulatto Company's Stockholders equity section of the balance sheet at December 31, 2020. The following information must be…
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The charter of a corporation provides for the issuance of 95,662 shares of common stock. Assume that 37,907 shares were originally issued and 3,885 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared? a.$68,044 b.$3,885 c.$95,662 d.$37,907
mic Calendar My MCBS Library English (en) - damentals of Financial Accou ing mmer Session 1 2021/ACT 140/D2/ Course Documents/ Quiz 126-5-2021 On January 1, 2011, Baird Company had beginning balances as follows: Assets = Liabilities = $420 Common Stock = $500 During 2011, Baird paid dividends to its stockholders of $500. Given that ending retained earnings was $600, what was Baird's net income for the 2011 accounting period? $1,250 a. $770 b. $830 S1.750
1.
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Can you please help with journal entries on question 5. Thank you!
Do the requirement Tips and check figures:
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The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organizing the corporation includes a credit to Oa. Organizational Expenses. b. Cash. c. Goodwill. d. Common Stock. 4:07 PM 12/20/2019