A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

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Answer 1

Question

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

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Answer 2

Question

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

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Answer 3

Question

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

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Answer 4

Question

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

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Answer 5

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

Answer 6

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

Answer 7

Chapter 11, Problem 3QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

Answer 8

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

Answer 9

b

To determine

Introduction: If the no-par value shares are issued by an organization at a stated value, then the stated value is known as legal capital. This legal capital is recorded in the stated value stock account by crediting the same. If the company issues stated value shares at a price more than the stated value, then the additional amount received is recorded in the paid-in capital by crediting the same under stockholder's equity.

The journal entry to record J Company’s issuance of 36,000 shares $2stated value share at $18 per share.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 11 - Prob. 1MCQ Ch. 11 - Prob. 2MCQ Ch. 11 - Prob. 3MCQ Ch. 11 - Prob. 4MCQ Ch. 11 - Prob. 5MCQ Ch. 11 - Prob. 1DQ Ch. 11 - Prob. 2DQ Ch. 11 - Prob. 3DQ Ch. 11 - Prob. 4DQ Ch. 11 - Prob. 5DQ

A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

Solution Summary: The author explains that the issuance of a common stock affects only paid-in capital and capital account.

Videos

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

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Chapter 11 Solutions

A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

Solution Summary: The author explains that the issuance of a common stock affects only paid-in capital and capital account.

Videos

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.

Want to see the full answer?

Chapter 11 Solutions

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record J Company’s issuance of 36,000 shares of $2 per share, for $18 cash per share.