Stock transactions for Cautious Driving School, Inc. follow:i (Ok the icon to view the transactions.)Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)WIEMar. 4: Issued 20,000 shares of $1 par value common stock at $15 per share.DateAccounts and ExplanationMar. 4DebitCredit

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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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On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
eBook Show Me How Calculator Print Item Entries for stock dividends Instructions Chart of Accounts Journal Instructions Pro-Builders Corporation has 265,500 shares of $30 par common stock outstanding. On September 2, Pro-Builders Corporation declared a 1% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $50 per share on September 2. Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tides. Next Previous 2 more Check My Work uses remaining. Check My Work 10:5
Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issuance of the preferred, shares. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
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The declaration, record, and payment dates in connection with a cash dividend of $115,900 on a corporation's common stock are January 12, March 13, and April 12. Required: Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per share.Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit May 10 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title
Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $3 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $58,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Li
Instructions Chart of Accounts Journal Instructions Yerbury Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Yerbury during a recent year. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. Feb. Mar. June July 2 Purchased for cash 5,200 shares of Wong Inc. stock for $19 per share plus a $120 brokerage commission. Received dividends of $0.25 per share on Wong Inc. stock. Purchased 2,000 shares of Wong Inc. stock for $25 per share plus a $115 brokerage commission. Sold 6,200 shares of Wong Inc. stock for $38 per share less a $105 brokerage commission. Yerbury assumes that the first investments purchased are the first investments sold. Received dividends of $0.50 per share on Wong Inc. stock. 6 7 26 Sept. 25 Check My Work 3 more Check My Work uses remaining I All work saved. DELL
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During its first year of operations, Swifty Corporation had the following transactions pertaining to its common stock Jan. 10 Issued 75,000 shares for cash at $7 per share. July 1 Issued 35,000 shares for cash at $9 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Your answer is correct. Date Jan 10 July 1 Account Titles and Explanation Cash Common Stock Cash Paid-in Capital in Excess of Par-Common Stock Common Stock Debit 525000 315000 Credit WI 525000 70000 245000

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the Icôn to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4: Issued 20,000 shares of $1 par value common stock at $15 per share. Accounts and Explanation Date D Mar. 4 Debit Credit