The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share.  The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: Tropical Rainwear issues 2,000 shares of its $15 par value preferred stock for cash at $17 per…

A: Number of shares issued = 2,000 Par value of the stock = $15 Issue price of the stock = $17

Q: February 16, Hawthorne Co. declares a $0.34 dividend to be paid on April 5. Hawthorne has 2,000,000…

A: Dividend  pay will result in cash outflows

Q: The Shoe Exchange issues 4,000 shares of its $1 par value common stock to provide funds for further…

A: Step 1: Journal entry:TransactionGeneral JournalDebit Credit1cash$72,000  Common stock $4,000…

Q: Monty Inc. issues 4,550 shares of $100 par value preferred stock for cash at $140 per share.…

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

Q: On May 1, Splish Brothers Corporation purchased 3.200 shares of its $10 par value common stock at a…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: On July 1, Sage Hill Inc. purchases 600 shares of its $5 par value common stock for the treasury at…

A: Total cash paid = No. of shares purchases x Price per share = 600*$8 = $4,800

Q: Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in…

A: The stockholders' equity is the net amount in the business that belongs to the shareholders. The…

Q: On May 10, Whispering Winds Corporation issues 2,950 shares of $10 par value common stock for cash…

A: Face value of the share is the stock value given to the shares and printed in the share certificate.…

Q: The declaration, record, and payment dates in connection with a cash dividend of $659,000 on a…

A: The dividend is considered as a part of the distributable profit distributed by the company to its…

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: Dividend declared and paid: The majority of dividends are cash dividends, which are distributions…

Q: On April 1st, Shareholders invested OMR 60,000 cash in exchange for ordinary :shares. The Journal…

A: Shareholders are the persons who invest money in the shares of the company and in turn gets…

Q: On May 10, Martinez Corp. issues 1,800 shares of $4 par value common stock for cash at $15 per…

A: The details regarding transaction is given. Required  Journal Entry.

Q: On July 1, Blue Spruce Corporation purchases 460 shares of its $5 par value common stock for the…

A: Treasury shares means the share which has been buy back by the company . It will be shown as…

Q: Issued 5,000 shares of $1 par common stock for $50,000 cash. Record the transaction. Note: Enter…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: Dividends declared = Number of shares Outstanding ×Cash dividend per share  = 74000×$2 =$148,000

Q: On June 1, Sheffield Inc. issues 3,350 shares of no-par common stock at a cash price of $7 per…

A: Paid in capital in excess of stated value = (Par value per share - Stated value per share) x No. of…

Q: Larkspur Inc. issues 7,600 shares of $100 par value preferred stock for cash at $104 per share.…

A: Preferred stock is a type of equity which indicates ownership in organization. In order to raise…

Q: 2. The sale of 100 shares of stock for $8,500 by the Sims Corporation is recorded as a credit to…

A: Given that -   100 shares of stocks sold for $8500   journal entry?   if the sale is made at a price…

Q: On March 8, Blossom inc., a publicly traded company, issued 5,700 preferred shares for cash of $31…

A: March 8 - The Preferred Stock does not have a par value or stated value. In this case, we record the…

Q: On July 1, Martinez Corporation purchases 550 shares of its $5 par value common stock for the…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

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

A: Total cash received = No. of shares issued x Issue price per share = 9,100*$114 = $1,037,400

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: First, compute the cash dividends as shown below: Cash dividends = 6,700*$2 Cash dividends = $13,400…

Q: Blue Spruce Inc. issues 5,050 shares of $100 par value preferred stock for cash at $150 per share.…

A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…

Q: Farmers Incorporated issued 6,000 shares of its $10 par value common stock in exchange for land that…

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

Q: Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2…

A: Given, Number of stocks outstanding = 6,000 Dividend declared = $2

Q: Quickbux Co. issued and sold 1,000 shares of common stock, with a par value of $5, for $12 per…

A: Shareholders' equity includes common stock, preferred stock, paid-in capital in excess of par, and…

Q: Grouper Corp, has 7,700 shares of common stock outstanding. It declares a $5 per share cash dividend…

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

Q: Divine Apparel has 4,000 shares of common stock outstanding. On October 1, the company declares a…

A: Amount of dividend = No. of shares x dividend per share = 4,000 shares x $0.75 per share = $3,000

Q: On May 10, Pronghorn Corporation issues 2,700 shares of $10 par value common stock for cash at $18…

A: Face value of the share is the stock value given to the shares and printed in the share certificate.…

Q: Please help

A: Cash = Number of shares * Issue price = 2100 * $14 = $29,400 Common stock value = Number of shares *…

Q: On February 20, services valued at $60,000 relating to the organization of a corporation were…

A: The journal entries are prepared to record the transactions on regular basis. The cash received in…

Q: On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury…

A: The stock which is repurchased by the organization from its shareholders which was issued previously…

Q: On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share.…

A: Cash will be = 1000*11 = 11,000 Capital = 1000*4 =4000 Excess of capital = 11,000 - 4000=7000

Q: Bonita Corporation has 86,000 shares of common stock outstanding. It declares a S2 per share cash…

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

Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…

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

Q: The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share.…

A: Definition: Preferred stock: The stock that provides a fixed amount of return (dividend) to its…

Q: Western Wear Clothing issues 1,000 shares of its $0.01 par value common stock to provide funds for…

A: Journal entry is make to record event and transaction that occur during particular period. It is…

Q: Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per…

A: If common stock or preference stock is issued at premium then the journal entry comprises of credit…

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.