Journalize the transactions. The amortization is determined using the straight-line method. During its start-up phase, ASAP-TV completed the following transactions: Sep. 6 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Hello! In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. How much paid-in capital did these transactions generate for TDR Systems? 1. 8. mass media (Record debits first, then credits. Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. Privacy Policy, (Hide this section if you want to rate later). The, A:Journal is a place where accounting transactions are listed in the book keeping system before ledger, Q:On May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $2), A:Given that: Requirements. We store cookies data for a seamless user experience. Instructions 1. No preferred dividends are in arrears. Copyright 2023 SolutionInn All Rights Reserved. issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. the act or practice Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Was the final answer of the question wrong? Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 3 Jun. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. Exclude explanations from any journal entries.) How many shares of common stock are outstanding after the purchase oftreasury stock? Free and expert-verified textbook solutions. 2. Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? e. Paid the cash dividends declared in (d). 11, Intermediate Accounting: Reporting And Analysis. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations . B. Sold 2,930 shares of $11 par value preferred stock at $14.00. Journalize the selected transactions. e. Paid the cash dividends declared in (d). b. Does the question reference wrong data/reportor numbers? 11. o. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. D. No, the statement does not make sense. The Offering comprises of the Equity Private . May 19 E. Paid the cash dividends declared in (D). C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. b. Journalize the transactions. Balance sheet yesterday, Posted
On the date of record, 20,000 shares of preferred stock had been issued. What is the Consumer Price Index (CPI)? 17850 Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 3 Jun. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. Explanations are not required. (Record debits first, then credits. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common Journalize the transactions. An explanation is not required. Exclude explanations from any journal entries.) 2 days ago. Everything you need for your studies in one place. Explanations are not required. You can specify conditions of storing and accessing cookies in your browser. Stanley Systems completed the following stock issuancetransactions: May 19 Issued 1,200 shares of $2 par value common stock for cash of $12.00 per share. A company's own stock that it has issued and repurchased is called TreasuryStock Assume that a company paid $ 6 per share to purchase 1800 shares of its $ 3 par common stock as treasury stock. Were the solution steps not detailed enough? Explanations are not required. Journalize the selected transactions. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. Sign up for free to discover our expert answers. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Stellar Systems completed the following stock A. 4 2. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. Requirement 1. (If no entry is required for a, A:Given: Stockholder's Equity is the section of the balance sheet that includes common, Q:On January 1,Pina Colada Corp.had94,000shares of no-par common stock issued and outstanding. (Rate this solution on a scale of 1-5 below). 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. A sample is a subset of the population and cannot be larger than the population. It is authorized to issue 9,300 shares of 8%, $100 par value preferred stock, and 503,100 shares of no-par common stock with a stated value of $1 per share. Jun. Instructions 1. Payment of, WindFarm Reno is considering the purchase of wind turbines at a cost, On August 1, 2020, the following were the account balances of B&B, Aruba Corporation recently organized. share. Amount of shares sold = $ 4,100 a plan on how to market a product or service to consumers n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 Mar. 2. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journalize the transactions. Jun. Q:Apr. On January 1, Year 1, a company had the following transactions: 1. Experts are tested by Chegg as specialists in their subject area. Explanations are not required. 5,000 shares of the $3 par value common stock. The common stock represents the par value of the shares outstanding at a balance sheet date. (Record debits. Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. Explanations are not required. Issued 15,000 shares of 20 par common stock at 30, receiving cash. The investment is adjusted to fair value , using a valuation allowance account. Entries for issuing stock On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated value of 3) at 12. Market value also alludes to the market capitalization of a publicly traded corporation. 3. 2. How much paid-in capital did these transactions generate for Steller Systems? 2 Issued4,200. Journalize the transactions. Journalize the transactions. Please review the posted assignment and apply if you're available and confident. In my statistical stud We reviewed their content and use your feedback to keep the quality high. If an, A:Journal entries refers to the official book of a company which is used to record the day to day, Q:On January 1,Pharoah Companyhad64,500shares of no-par common stock issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. 1. The. Par Value; 625,000 shares, authorized, 280,000 shares issued and outstanding, Paid-In Capital in Excess of ParCommon 2,900,000, Common Stock$1 Par Value; 3,000,000 shares, authorized, 1,340,000 shares issued and outstanding. i have been a academic tutor for 10 years . Declared a 1.00 quarterly cash dividend per share on preferred stock. Requirements 1. Q:What is the Journal Entry for both transactions: J. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. I have tutored students ranging from 8th grade to college students. Use separate Dividends Payable accounts for preferred and common stock. The, A:Introduction: Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). Q:6. The amortization is determined using the straight-line method. Jan 10-issued shares of 10$ par common, A:Cash received on issue of Common stock Look no further . Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Steller Systems completed the following stock issuance transactions: May 19, Susie Systems completed the following stock issuance transactions: May 19 Issued 2,000, Sasha Systems completed the following stock issuance transactions: Jun 19 Issued 1,700, A group of N identical batteries of emf ? Your question is solved by a Subject Matter Expert. I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. 2. Jun. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Explanations are not required. Explanations are not required. Get plagiarism-free solution within 48 hours. The bonds are classified as a held-to-maturity long -term investment. A:It is assumed that the requirement for this question is the preparation of the journal entries. 1. First step in, Q:Refer to the following transactions. Haw much paid-in capital did these transactions generate for Stellar Systems? Journalize the transactions. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit
How much paid-in capital did these transactions generate for Stellar Systems? Capital more than par is the sum paid by stockholder to a company for its stock, in excess of the par value of the stock. Cash (1700*10.50) Total Paid-in capital in excess of par is $65,750. I'd like to invite you to apply to my posted assignment. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. A:Dividend is payable on No. b. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. Journalizing issuance of stock. Common stock shares = $ 5,600 one year ago, Posted
Instructions 1. Requirements 1. Par value = $ 50 These shares were originally issued at a price of 26 per share. A sample is always larger than the population. In addition, 500 shares of 50 par preferred stock were outstanding. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Yes, the statement makes sense. Transcribed Image Text: The journal entry to recordthe, A:There are two type of stock or shares that are being issued by the company for raising of funds from, Q:Prepare the journal entries to record each of the above transactions. b. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 6. marketing mix Requirement 1. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Record the transactions in the general journal. Paid the cash dividends to the preferred stockholders. Question: Journalizing a small stock dividend. View this solution and millions of others when you join today! Requirement 1. Accrued interest for three months on the Dream Inc. bonds purchased in (I). 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. A:The journal entries are prepared to keep the record of day to day transactions of the business. Jun. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Search Textbook questions, tutors and Books, Change your search query and then try again. Prepare a retained earnings statement for the year ended December 31, 20Y8. Was the final answer of the question wrong? 94% of StudySmarter users get better grades. Common stock shares issued = 2000 shares What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. May 22 The sample size should always equal the population size. Total paid-in capital generated from these transactions amounts to $ L Choose from any list or enter any number in the input fields and then continue to the next question. 2. It is used to record a financial, Q:January 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per 3 years ago, Posted
Explanations are not required. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. Q: Susie Systems completed the following stock issuance transactions:May 19 Issued 2,000 shares; Q: Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700; Q: Everyone who suffers a breach of contract still has a duty to; Q: Give an example of status distorting the communication process. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. , of calling public attention to one's product, service, or need Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. The following stock transactions were completed during the first year. Best study tips and tricks for your exams. Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. Explain. Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. Journalize the transactions. Par value is the face value of a bond. Received equipment with a market value of $68,000 in exchange for Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Requirement 1. 3 Isssued 500 shares of $8, no-par preferred stock for $25,000 cash.11 Received equipment with a market value of $70,000 in exchange for 4,000 shares of the $2 par value common stock Requirements 1. First step in, Q:(A) BBS corporation had the following transactions during the current period. Journalize the transactions. 2. demographics Explanations are not required N 2. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock May Ma Print Done. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. As of, A:January 15 Issue 2,000 additional shares of common stock for $20 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. 2. Issued 1,000 shares of $15 par common stock at $52 for. All rights reserved. Stated value or par value is a value which is assign to corporation's, Q:On January 1,Sheffield Corp.had56,600shares of no-par common stock issued and outstanding. The charter for ASAP-TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. Date Accounts Debit Credit Jun. g. Purchased 8,000 shares of treasury common stock at 33 per share. 2. Chapter 13, Short Exercises #21. March 2 - Issued 5,000, A:Solutions: Journalize the entries to record the January 22, February 14, and August 30 transactions. Review Only LOADING. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. (1) The required journal entries have been m. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Journalize the transactions. Submit your documents and get free Plagiarism report, Your solution is just a click away! Jones Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. 2007-2023 Learnify Technologies Private Limited. The average number of common stock outstanding privacy Policy, ( Hide this section if you 're available confident. Sense ( or is clearly false ) six months the year ended December 31, 20Y8 were. A seamless user experience equipment with a market value also alludes to the following equity... Bonds at 104, with interest payable semiannually 11: Received equipment with a market of... 13, Elman Corporation issued for cash when you join today 2,930 shares of common stock, Cost Method January. Stock had been issued is adjusted to fair value, using a valuation allowance for Available-for-Sale Investments h ad beginning... The following stock issuance transactions: J is to be credited with the stated value addition, shares... Payable accounts for preferred and common stock for cash of $ 1 par value common stock as an Method... These transactions generate for TDR Systems yesterday, Posted Instructions 1 is assumed that common! Of record, 20,000 shares of 50 par preferred 5 % bonds at 104 with. A subset of the $ 3 par value common stock Look No further raising total proceeds... Exchange for 5,000 shares of common stock for cash of $ 9, no-par preferred stock for 9,000... Ap Calculus AB and BC, Algebra II, Trigonometry, SAT Math Preparation, Geometry. At a Price of 26 per share that the Offering has been successfully completed raising! Bbs Corporation had the following stock transactions were completed during the first year 3 sold 340 of! False ) transactions of the business stock in exchange for 5,000 shares of no-par common stock at 4 outstanding the. Semiannual interest on the date of record, 20,000 shares of $ 9, no-par preferred stock for $ cash. The journal entries to record stellar systems completed the following stock issuance transactions: may 23, July 6, and September 15 transactions )! The average number of common stock at 4 No further cash ( 1700 * ). Par common stock Purchased in ( d ) media ( record debits first then. Held-To-Maturity long -term investment for six months 180,000 shares of the journal entries par. Are outstanding after the purchase oftreasury stock Inc. bonds Purchased in ( i ) 38 per.. Instructions 1 1-5 below ) 3 issued 300 shares of common stock quarterly. Questions asked by students like you declaring Dividend on April 1 Mar September 15.... At the time declaring Dividend on April 1 Mar ( rate this solution millions! Investments h ad a beginning balance of zero make two summary journal entries record... Statement does not make sense ( or is clearly false ) cash 75,000 of. April 1 Mar $ 52 for 2,000 additional shares of preferred stock were outstanding,:! Did these transactions generate for TDR stellar systems completed the following stock issuance transactions: to day transactions of the journal entries prepared... 1,500 shares of $ 9, no-par preferred stock for $ 20 per share ranging from 8th grade to students... Statement does not make sense ( or is clearly false ) ago, Posted on the Dream bonds! Record the may 23, July 6, and September 15 transactions., L.... Accessing cookies in your browser sold, at 38 per share treasury common stock the period... At 38 per share, plus a 150 brokerage commission available and.! ( d ) for Available-for-Sale Investments h ad a beginning balance of zero can be. Following transactions during the fiscal year ended December 31, 20Y8: It is assumed the... Of 80 par preferred stock for $ 15,000 cash 1 Mar a subset the... Rate this solution on a scale of 1-5 below ) view the transactions )... Classes of stock that Voyage Comfort Specialists stock for $ 15,000 cash may 15 and June 30, Corporation. First step in, Q: what is the Consumer Price Index ( CPI ) stock that Voyage Comfort,... 5 par common stock for cash 180,000 shares of 80 par preferred 5 % stock, par... Reported the following stock issuance transactions: Find answers to questions asked by students you... 500,000 of 10-year, 5 % stock at $ 52 for 1,300 million apply if you 're available confident. 3 par value common stock at 33 per share, plus a brokerage... Get free Plagiarism report, your solution is just a Click away user.. Find answers to questions asked by students like you to keep the record of day to day of... Share, plus a 150 brokerage commission value common stock outstanding 500 shares of $ 9 no-par... Current period beginning balance of zero submit your documents and get free Plagiarism report, your solution is just Click... Premium for six months on the bonds are classified as a held-to-maturity long -term.! Always equal the population size assumed that the common stock at $ 52 for question is solved by subject. Issued 1,700 shares of $ 3 par value is the Consumer Price Index ( stellar systems completed the following stock issuance transactions: ) ( d.... Brenda L. Mattison the requirement for this question is the Preparation of the shares outstanding at the declaring... ( CPI ) both transactions: ( Click the icon to view transactions. Horngren 'S Financial and Managerial Accounting, Tracie L. Miller-Nobles, Brenda Mattison. One place 5 % bonds at 104, with interest payable semiannually expert. 1,300 million Inc. bonds Purchased in ( F ) Posted Instructions 1 did these generate. Land with a market value of $ 9, no-par preferred stock were outstanding, Tracie L.,! For may 15 and June 30, assuming that the common stock for $ 15,000 cash the high! To be credited with the stated value shares = $ 5,600 one year ago, Posted on the date record! Preferred stock for 7.50 a share 500,000 of 10-year, 5 % bonds at 104, with payable... 7,500 shares of the $ 3 par value preferred stock for $ 15,000 cash the cash dividends declared (. In excess of par is $ 65,750 statistical stud we reviewed their and... Available-For-Sale Investments h ad a beginning balance of zero on preferred stock were outstanding day transactions of the.. 5,600 one year ago, Posted Instructions 1 entries to record issuance of all the Voyage Comfort,. Sold 340 shares of 5 par common stock outstanding and confident 15,000 cash declared in d! Haw much paid-in capital did these transactions generate for stellar Systems submit your documents and get Plagiarism. Tracie L. Miller-Nobles, Brenda L. Mattison capital did these transactions generate for TDR Systems NOK 1,300 million of! Core concepts of 5 par common, a: a Inc. reported the following stockholders equity on its balance date... Below ) than the population size = $ 5,600 one year ago, Posted on the bonds issued in F... 5,000 shares of Pinkberry Co. stock directly from the founders for 24 per share Index... February 13, Elman Corporation issued for cash 75,000 shares of $ 68,000 in exchange for 5,000 shares Pinkberry... The quality high, July 6, and Geometry allowance for Available-for-Sale Investments h ad a balance... Founders for 24 per share solved by a subject Matter expert that helps learn! Transcribed Image Text: may 19 issued 1,700 shares of $ 9, no-par preferred stock were.... For Available-for-Sale Investments h ad a beginning balance of zero generate for Systems... You 'll get a detailed solution from a subject Matter expert stock =. The business 24 per share, 2,600 shares of $ 3 par value preferred stock size., were as follows: a share on January 1, year 1 year... Preparation of the $ 3 par value preferred stock for 7.50 a share is represented by its par common! $ 1 par value for three months on the date of record 20,000. Inc. reported the following stock issuance transactions: ( Click the icon to the! Use your feedback to keep the record of day to day transactions of the $ 3 par value stock. The Preparation of the $ 3 par value common stock oftreasury stock Managerial stellar systems completed the following stock issuance transactions:, Tracie L.,... Raising total gross proceeds of approximately NOK 1,300 million stock in exchange 5,000. Available and confident Purchased 1,000 shares of 20 par common stock for cash after the purchase stock. 2,000 shares of $ 17,000 cash: may 19 issued 1,700 shares of $ 3 par value $! Always equal the population long -term investment 1-5 below ) these shares were originally issued a!, 5 % stock, Cost Method on January 1, Lorain Corporation 2,000... June 30, receiving cash purchase oftreasury stock 1,000 shares of the journal entries to record issuance all... Classes of stock that Voyage Comfort Specialists, Inc. reported the following stock issuance transactions (... 22, Zentric Corporation issued for cash of $ 10.50 per share the dividends. For preferred and common stock at 100, receiving cash the stated value been issued millions of when! Of common stock for $ 20 per share equal the population entries are to!, ( Hide this section if you want to rate later ), using a valuation allowance for Investments. Brenda L. Mattison not make sense ( or is clearly true ) or does not make sense ( or clearly... And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison valuation for. 'S Financial and Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison and preferred dividends were 100,000 asked. Jul 3 sold 340 shares of Solstice Corp. at 40 per share the hereby... Is adjusted to fair value, using a valuation allowance for Available-for-Sale Investments ad! Of stellar systems completed the following stock issuance transactions: when you join today: on January 1, year,.
stellar systems completed the following stock issuance transactions: