ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=falseEntries for Issuing Par StockOn October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 140,000 shares of $8 par common stock at $10, and onNovember 19, it issued for cash 40,000 shares of preferred stock, $12 par at $41.a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank.Oct. 31Nov. 19CashPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred Stockb. What ispreferred Stockby all stockholders as of November 19? Entries for Issuing Par StockOn October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 140,000 shares of $8 par common stock at $10, and onNovember 19, it issued for cash 40,000 shares of preferred stock, $12 par at $41.a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank.Oct. 31Nov. 19D. What isCashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred Stock) by all stockholders as of November 19?

The journal entries are prepared to keep the record of day to day transactions of the business on…

Answered: Entries for Issuing Par Stock On…

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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ABP signment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress=false Calculator Alliance Corp. issues 2,370 shares of $12 par value common stock at $15 per share. When the transaction is recorded, what credit entry or entries are made? Select the correct answer. Common Stock $35,550. Common Stock $7,110 and Retained Earnings $28,440. Common Stock $28,440 and Paid-in Capital in Excess of Par Value $7,110. Common Stock $28,440 and Paid-in Capital in Excess of Stated Value $7,11o. 4:03 PM
ment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3Dfalse Зook Calculator Selected stock transactions Chart of Accounts Journal Instructions Alpha Sounds Corp., an electric guitar retailer, was organized by Michele Kirby, Paul Glenn, and Gretchen Northway. The charter authorized 1,100,000 shares of common stock with a par of $1. The following transactions affecting stockholders' equity were completed during the first year of operations: Jan. Issued 102,000 shares of stock at par to Paul Glenn for cash. Issued 3,600 shares of stock at par to Michele Kirby for promotional services provided in connection with the organization of the corporation and issued 42,500 shares of stock at par to Michele Kirby for cash. (record as two separate transactions.) 8 Purchased land and a building from Gretchen Northway in exchange for stock issued at par. The building is mortgaged for $177,100 for 20 years at 6%, and there is accrued interest of $4,700 on the mortgage note at…
< On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 230,000 shares of $20 par common stock at $25, and on February 27, it issued for cash 12,000 shares of preferred stock, $8 par at $14. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock ▾ Feb. 27 Cash Preferred Stock ✔ Paid-In Capital in Excess of Par-Preferred Stock Feedback Check My Work X EN E Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation. Recall the definition of legal capital and what affect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? X
On October 31, Legacy Rocks Ic., a marble contractor, issued for cash 74,600 shares of $10 par common stock at $12, and on November 19, it issued for cash 15,640 shares of preferred stock, $40 par at $56. Required: A. Journalize the entries for October 31 and November 19. Refer to the Chart of Accounts for exact wording of account titles. B. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
Entries for Isuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 110,000 shares of $4 par common stock at $8, and on November 19, it issued for cash 55,000 shares of preferred stock, $18 par at $61. a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank. Oct. 31 Nov. 19 b. What is the total amount invested (total paid-in capital) by all stockholders, as of November 197
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 90,000 shares of $4 par common stock at $8, and on November 19, it issued for cash 50,000 shares of $18 par preferred stock at $61. a. Journalize the entries for October 31 and November 19. For a compound transaction, if an amount box does not require an entry, leave it blank. Oct. 31 Cash Common Stock ✓ Paid-In Capital in Excess of Par-Common Stock Nov. 19 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Feedback ✓ Check My Work Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation. Recall the definition of legal capital and what affect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
Closet Organizers Inc. sells closet organizing systems. Selected accounts and their balancesas of September 30, the end of the current year are: Common Stock, $42 par 12,810,000Paid-in Capital from Sale of Treasury Stock-Common 330,000Paid-in Capital in Excess of Par - Common Stock 453,000Paid-in Capital in Excess of Par - Preferred Stock 156,000Preferred 2% stock, $100 par 520,000Retained Earnings 64,358,000Treasury Stock-Common 1,006,250 Prepare the Stockholder's Equity section of the balance sheet as of September 30, the end ofthe current year using Method 1 of Exhibit 8. Preferred stock has sixty thousand shares authorizedand common stock has four hundred thousand shares authorized. There are twenty-fivethousand shares of common stock held as treasury stock.
Apr. 9. Issued 21,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $78,000, $427,000, and $97,000, respectively. Apr. 9. Land ✓ Buildings Equipment Common Stock Paid-In Capital in Excess of Par-Common Stock Feedback ✓ ✔ Check My Work Record the assets, and increase the common stock account by the par value of the shares. Record any amount above par in a separate paid-in capital equity account. Recall that shares of stock can be issued to acquire assets. At what value must the preferred stock and common stock accounts be recorded? June 14. Issued 20,000 shares of preferred stock at $77 for cash. June 14, Cash ✓ Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock ✓
Please filled the blanks after calculation. A. Issued ____shares of class A common stock. Stock has par value of ___ per share and was issued at $____ per share. # of shares issued 20% of authorized shares Par value $ 30.00 Issue Price $40.00 B. Issued _____ shares of no-par class B stock # of shares issued 20% of authorized shares Issue Price $ 38.00 C. Issued _______ shares of preferred stock at par value. # of shares issued 40% of authorized shares Par Value $ 110.00
Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. View transaction list Journal entry worksheet 1 > Record the issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a.
Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. View transaction list Journal entry worksheet < 1 2 Record the issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share. Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
Requirement 1. Record the transactions in Halborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)\\nJan. 16: Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.40 per share dividend on the 80,000 shares of $8 par value common stock outstanding. The date of record is January 31, and the payment date is February 15.

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