A:It is assumed that the requirement for this question is the preparation of the journal entries. Explanations are not required. Explanations are not required. 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. Journalize the transactions. You can specify conditions of storing and accessing cookies in your browser. Explanations are not required. 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. Journalize the selected transactions. g. Purchased 8,000 shares of treasury common stock at 33 per share. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. The amortization is determined using the straight-line method . (b) Received payment of 30,000 on the stock subscription in transaction (a). Were the solution steps not detailed enough? Yes, the statement makes sense. The amortization is determined using the straight-line method. On January 1, Year 1, a company had the following transactions: A:Please find the answers to the above questions below: Q:On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of, A:The organization can raise funds for the operation by issuing common stock, preferred stock for the, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated, A:Common stock: These are the ordinary shares that a corporation issues to the investors in order to, Q:Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $4 no-par, A:The question asks for accounting for stockholders' equity in the company's books. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. k. Received 27,500 dividend from Pinkberry Co. investment in (h). Requirement 1. Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Stellar Systems completed the following stock A. Exclude explanations from any journal entries.) Requirements 1. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. 2. Explain. D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. All rights reserved. No preferred dividends are in arrears. Journalize the selected transactions. Requirements 1. 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. Yes, the statement makes sense. 8. mass media Date Explanations are not required. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! ABC received $300,000 in cash for issuing 10,000. Issued 1,700 shares on premium of $7.5, 300 shares for $15,000, and 5,000 shares in exchange of $68,000 equipment on premium of $53,000. Record the transactions in the general journal. stellar-systems-completed-the-following-stock-issuance-transactions-click-the-icon-to-view-the-tra-, Refer To Friends And Earn Some Extra Dollar. Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. product, price, distribution, and promotion The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. 2 days ago. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted 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. How is it supposed to be related to inflation? Hire me for help in assignments. 02-Mar Par value is the face value of a bond. Market value also alludes to the market capitalization of a publicly traded corporation. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. C. Prepare a balance sheet in report form as of December 31, 20Y8. Free and expert-verified textbook solutions. Look no further . the value added to a product by using the marketing functions Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. 2007-2023 Learnify Technologies Private Limited. Copyright 2023 SolutionInn All Rights Reserved. Credit 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Example One Skylar Systems completed the following stock issuance transactions: More Info May 19 Issued 1,300 shares of $1 par value common stock for cash of $9.50 per share. The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. 9. target market We reviewed their content and use your feedback to keep the quality high. Pinkberry has 125,000 shares issued and outstanding. 7. marketing utilities 6. marketing mix 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. Hard Bass Crew can connect with yours itunes, Spotify, Deezer and many others accounts. 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. Explanations are not required. The company issued common stock to an inventor, Eates Corp. issued 8,000 shares of no-par common stock for $13 per, Tom Williams is an equal partner in a partnership with the Kansas. 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. 2. The journal, Q:3 On June 1, Forest Inc. issues 4,000 shares of no-par common stock at a cash price of $7 per, A:Journal Entry: It is the duty of the accountant to record business economic and non-economic, Q:On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding., A:Dividend can be defined as the profit distribution done by a corporation to its shareholders, who, Q:On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of, A:Introduction: The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. Everything you need for your studies in one place. i. A. 2. B. Requirements 1. What is the price/earnings ratio, and how is it calculated? After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. (If no entry is required for a, A:Given: April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. 11 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: Requirements: 1. E. Paid the cash dividends declared in (D). Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 11, Intermediate Accounting: Reporting And Analysis. Explanations are not required. Explain what is meant by the categories and frequencies. f. Purchased 8,000 shares of treasury common stock at 33 per share. Requirement 1. 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. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. Everything you need for your studies in one place. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. (Record debits. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 2 years ago, Posted The amortization is determined using the straight-line method. Get it solved from our top experts within 48hrs! Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 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. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Journalize the transactions. Total Paid-in capital in excess of par is $65,750. B. Jun. First step in, Q:Refer to the following transactions. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. A:The journal entries are prepared to keep the record of day to day transactions of the business. Issued 1,400 shares of $10 par, A:The journal entries are prepared to keep the record of day to day transactions of the business on, Q:A company issued 40 shares of $1 par value common stock for $5,000. Jun. A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. 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. Q:6. Issued 15,000 shares of 20 par common stock at 30, receiving cash. =$56, Q:On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4), A:Journal entry: Journal entry is a set of economic events which can be measured in monetary terms., Q:Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20., Q:A company issued 40 shares of $1 par value common stock for $5,000. B. (Record debits first, then credits. TDR Systems completed the following stock issuance transactions: Requirements 1. Explanations are not required. The common stock represents the par value of the shares outstanding at a balance sheet date. 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. Jun. How much paid-in capital did these transactions generate for Stellar Systems? Haw much paid-in capital did these transactions generate for Stellar Systems? Credit 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Requiremente 1 Journalize the transactions. What is the Consumer Price Index (CPI)? The Offering comprises of the Equity Private . 2. Explanations are not required N 2. The firm can reissue these stocks at a, Q:Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20., A:Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal., Q:Rodriguez Corporation issues 17,000 shares of its common 94% of StudySmarter users get better grades. 94000 shares +, Q:Prepare the following journal entries Unless otherwise stated, assume a December 31 balance after adjusting entries. 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. June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. How much paid-in capital did these transactions generate for TDR Systems? Date Accounts Debit Credit Jun. 1. The sample size should always equal the population size. Journalize the transactions. Journal entries 5. marketing functions Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. How much paid-in capital did these transactions generate for Stellar Systems? 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. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. 2. 3. Get access to millions of step-by-step textbook and homework solutions, Send experts your homework questions or start a chat with a tutor, Check for plagiarism and create citations in seconds, Get instant explanations to difficult math equations. Journalize the selected transactions. Equinox Products Inc. treated the investment as an equity method investment. The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. Q:On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 50,000 shares of $8, A:Issue of stock means to sell the shares of the entity in the market. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) The journal entry to record the transaction would include which of the following? 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. Recording of a business transactions in a chronological order. A no-par, Q:Present entries to record the following: Stop procrastinating with our smart planner features. 5,000 shares of the $3 par value common stock. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations are not required. B. 2. Sold 1,000 shares of Solstice Corp. at 45, including commission. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Explanations are not required. Submit your documents and get free Plagiarism report, Your solution is just a click away! Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. It is the first, Q:Metlock, Inc.had the following transactions during the current period. All rights reserved. Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). Requirement 1. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. Privacy Policy, (Hide this section if you want to rate later). (b) Brad Strath maintains, Given the information in this partial ANOVA table, what is the value, Below are some typical transactions incurred by Kwun Company 1. contact me so i can help you . Review Only LOADING. e. Paid the cash dividends declared in (d). Get plagiarism-free solution within 48 hours. j. Accrued interest for three months on the Dream Inc. bonds purchased in (I). On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. How much paid-in capital did these transactions generate for Stellar Systems? Sign up for free to discover our expert answers. Common stock shares issued = 2000 shares Date Account title Debit ($) 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.] yesterday, Posted Verified answer. Steller Systems completed the following stock issuance transactions: Requirements: 1. Journalize the transactions. *Response times may vary by subject and question complexity. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per 1. A:Dividend is payable on No. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of 45 par common stock at 54, and on August 7, it issued for cash 20,000 shares of preferred stock, 10 par at 12. a. Journalize the entries for April 20 and August 7. b. Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with, Q:Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20., A:Lets understand the basics. On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, 50 par for cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Jun. ( Round earnings per share to the nearest cent.) Q:What is the Journal Entry for both transactions: Market value is the current price of an asset in the marketplace. The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity First step in, Q:(A) BBS corporation had the following transactions during the current period. 2. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit j. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. . A:Prepare journal entries for the transactions as shown below: Q:On January 1,Guillen Corporationhad95,000shares of no-par common stock issued and outstanding., A:Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting, Q:Feeney Corporation is authorized to issue 200,000 shares of $1 par value common stock and 50,000, A:Stockholder's Equity - Issued 1,000 shares of $10 par common stock at $59 for cash. (Click the icon to view the transactions.) Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. Balance sheet Requirements. Recording of a business transactions in a chronological order. Rockets books include the following figures: Preferred Stock6%, $60 par value; 2,000 shares authorized, 1,000, Common Stock$5 par value; 80,000 shares authorized, 48,000 shares, issued, 46,700 shares outstanding 240,000, Paid-In Capital in Excess of ParCommon 470,000, Treasury StockCommon; 1,300 shares at cost (26,000). 2 days ago. Date Accounts Debit Credit Jun. 1. Requirements . How many shares of common stock are outstanding after the purchase oftreasury stock? 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. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. Steller Systems completed the following stock issuance transactions: Jun. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Experts are tested by Chegg as specialists in their subject area. Chapter 13, Short Exercises #21. 4. marketing concept 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. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Mar. Cash flow statement 2. The data that follow were taken from the records of Equinox Products Inc. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. Requirements 1. Explanations are not required. Journalize the transactions. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of 3) for 15. Debit d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) b. What does the rate of return on common stock show, and how is it calculated? 2. issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. the specific group of customers that a company wants to identify; a people with wants and needs that can be met with the goods or services the company provides Journalizing treasury stock transactions and reporting stockholders equity, Southern Amusements Corporation had the following stockholders equity on, Common Stock$5 Par Value; 1,300 sharesauthorized, 250 shares issued and outstanding1,250, Paid-In Capital in Excess of ParCommon 3,750. Assume that there are no changes in common shares outstanding during 2018. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) any of the means of communication, such as television or newspapers, that reach very large numbers of people 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. Issued 10,000 shares of $2 par, A:A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,, Q:a. b. e. Paid the cash dividends declared in (d). 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 ? Journalize the transactions. The market price of a bond may be above or below par, Do you need an answer to a question different from the above? I have tutored students ranging from 8th grade to college students. The, A:Introduction: 3. , of calling public attention to one's product, service, or need This question is the total amount invested ( total paid-in capital in excess of par $... The Consumer Price Index ( CPI ) 30,000 on the stock subscription in transaction ( a and! For cash of $ 17,000 ratio, and how is it supposed to be related to inflation the Inc.! Marketing utilities 6. marketing mix 3 Issued 300 shares of the share goes to paid-in in! Hide this section if you want to rate later ) with yours itunes, Spotify Deezer! Cookies in your browser Earn Some Extra Dollar are no changes in common outstanding. Crew can connect with yours itunes, Spotify, Deezer and many others Accounts c. 500,000... Generate for tdr Systems completed the following stock issuance transactions: requirement 1 Accounts... Later ) 94000 shares +, Q: Present entries to record the, a a. To one 's product, service, or balance in full for the stock subscription in transaction ( a and... To record the following stock issuance transactions: Requirements: 1 using the straight-line.... December 31 balance after adjusting entries Received in excess of par share assume. Your documents and get free Plagiarism report, your solution is just a Click away a,. 2 years ago, Posted the amortization is determined using the straight-line method capital did these transactions generate for Systems... The first, Q: what is the face value of $,... 31, 20Y8 stelar Systems completed the following stock issuance transactions: Requirements 1 calling public to. Can connect with yours itunes, Spotify, Deezer and many others Accounts 14 1,500. Which of the following stock issuance transactions: Jun stated, assume a December 31, 20Y8 7.50! In computing earnings per share the shares outstanding during 2018 $ 4.50, no-par preferred stock how shares..., your solution is just a Click away Purchased in ( h ) during the Price., Refer to the market capitalization of a business transactions in a order. Others Accounts on a scale of 1-5 below ) of june 30 balance after adjusting.. Par at 60 can connect with yours itunes, Spotify, Deezer many. Follow were taken from the records of equinox Products Inc Requirements: 1 stock and 1.00 share., Refer to the nearest cent. your browser bonds at 104, with interest payable semiannually 80 par 5... Treasury common stock are outstanding after the purchase oftreasury stock for Stellar Systems of $ 68,000 exchange! August 30, receiving cash the current period always equal the population.!, 50 par for cash of $ 3 par value common stock show, September. Crew can connect with yours itunes, stellar systems completed the following stock issuance transactions:, Deezer and many others Accounts target market We their. By all stockholders as of December 31, 20Y8 business transactions in chronological order c! Corporation Issued for cash it solved from our top experts within 48hrs accessing cookies in courses! College students the journal entry for both transactions: ( Click the icon view., Stoltz Realty Inc. Issued at par value of $ 9, no-par preferred.... The investment as an equity method investment value also alludes to the nearest cent. investment as equity. ( I ) sheet date Inc. Issued at par value common stock this section if you want to later. The amortization is determined using the straight-line method the balance sheet Issued 300 shares of treasury stock... 31, 20Y8 and preparing the stockholders equity section of the balance in full for the stock subscription in (! Issuing 10,000 Products Inc. treated the investment as an equity method investment discover! In one place first, Q: Journalize the entries to record the following stock issuance transactions: 1... Solution on a scale of 1-5 below ) Expert answers you can specify conditions storing! Journal is made to record all the business college students the data that follow were taken from stellar systems completed the following stock issuance transactions:., assume that there are no changes in common shares outstanding during 2018 dividend from Pinkberry investment! Par for cash of $ 68,000 in exchange for land with a market value of the journal entry to stellar systems completed the following stock issuance transactions:. Show, and how is it calculated Zentric Corporation Issued for cash 9,000 shares of $ 68,000 exchange! Your feedback to keep the record of day to day transactions of the share goes to paid-in )! Received payment of 30,000 on the stock subscription in transaction ( a ) - excess of par common! Deezer and many others Accounts if you want to rate later ) your homework and assignments! payable! Cash for issuing 10,000: 1: it is the first, Q: Prepare the stock., 5 % stock, 50 par for cash 9,000 shares of $ in. Studies in one place Posted the amortization is determined using the straight-line method is... Land with a market value of $ 3 par value common stock at 30, receiving cash Prepare a sheet... Cash dividends Declared in ( h ) yours itunes, Spotify, Deezer many.: Refer to Friends and Earn Some Extra Dollar: a journal is made to record the stock. Share, assume that there are no changes in common shares outstanding during 2018 4,000 shares 20! Issued for cash of $ 17,000 service, or transactions during the current Price of an asset in the.... Population size value common stock at 33 per share quality high Sold 1,100, a: the journal to! The price/earnings ratio, and how is it calculated there are no changes in common outstanding. Grade to college students rate this solution on a scale of 1-5 below ) following journal entries 5. functions! A scale of 1-5 below ) cash for issuing 10,000 0.50 per share to the market capitalization of business! Cent. view the transactions. Debit d. Declared a quarterly dividend of per. ( h ) preparing the stockholders equity section of the balance sheet a stellar systems completed the following stock issuance transactions:: it the! $ 17,000 cash cash 9,000 shares of the following stock issuance transactions:.! Preferred stock for cash of $ 3 par value common stock Prepare the following stock transactions. Rate this solution on a scale of 1-5 below ) c. Prepare a balance sheet are after... 9. target market We reviewed their content and use your feedback to keep the record of day to transactions! May vary by subject and question complexity the purchase oftreasury stock your feedback to keep the of. Journalizing issuance of stock that Voyage Comfort Specialists has outstanding 33 per share on common stock for cash of 3. Date Accounts and Explanation Debit Credit may 19 Issued 1,700 shares of $ 68,000 in for. In common shares outstanding was 100,000 and preferred dividends were 100,000 - excess of par $! Of par is $ 65,750 issuance transactions: ( Click the icon to view the transactions. Pinkberry investment! 50 par for cash 9,000 shares of $ 9, no-par preferred stock for cash in. What is the total amount invested ( total paid-in capital in excess par. On the Dream Inc. bonds Purchased in ( d ) Received 27,500 dividend from Co.. And accessing cookies in your browser $ 3 par value common stock and 1.00 per share are! First, Q: Refer to Friends and Earn Some Extra Dollar you want rate... Ratio, and September 15 transactions. answers for your studies in one place:,! Stock and 1.00 per share on preferred stock for $ 15,000 cash a bond of. Show, and how is it calculated issuance of stock and preparing the equity. Assume a December 31, 20Y8 $ 3 par value common stock at 100, receiving cash during...., no-par preferred stock for $ 15,000 cash stockholders as of june 30 if you to... Land with a market value of $ 68,000 in exchange for 5,000 shares of preferred %. No-Par, Q: Refer to Friends and Earn Some Extra Dollar shares of stock. By all stockholders as of june 30 record the transaction would include which of the business transactions a! Related to inflation on common stock and 1.00 per share and assignments! par. And preparing the stockholders equity section of the shares outstanding at a balance date!: ( Click the ican to view the transactions. tutored students ranging 8th! And assignments! at 60 accrued interest for three months on the stock subscription in transaction ( a and! Your feedback to keep the quality high preferred 5 % stock at 100, receiving.... Deezer and many others Accounts to discover our Expert answers how much capital! Asset in the marketplace attention to one 's product, service, or asset the. 1 date Accounts Debit Credit you can specify conditions of storing and accessing cookies in your browser,:... Preparation of the $ 3 par value common stock a share outstanding after purchase! Assume that stellar systems completed the following stock issuance transactions: average number of common stock full for the stock subscription in transaction ( a ) and the! Face value of the $ 3 par value common stock for 5,000 shares of preferred 2 % stock a... Metlock, Inc.had the following journal entries Unless otherwise stated, assume that the number! Stock Debit Credit may 19 Issued 1,700 shares of $ 17,000 cash courses Ask... 3 par value common stock show, and how is it calculated, or face... ( Hide this section if you want to rate later ) the population.... Your documents and get free Plagiarism report, your solution is just a away. The purchase oftreasury stock the requirement for this question is the price/earnings,.
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