Accounting Instructions: Complete the journal entries for the following events. Enter numbers without any format (e.g., 62500; 1800). 1. Issued 7,000 shares of no-par common stock. The market price of the stock is $12 per shar Account Debit Credit Cash Common Stock 2. Issued 3,000 shares of 5%, $100 par, cumulative preferred stock for $122 per share. Account Debit Credit Cash Preferred Stock (PS) Paid-in-Capital in Excess of Par - PS 3. Declared dividends on preferred dividend of 5% per share. Account Debit Cash Dividends Dividends Payable 4. Purchased 500 shares of common stock at $14 for treasury. Account Debit Treasury Stock Cash 5. Paid preferred dividend declared in #3. Account Dividends Payable Cash 1. 2. 3. 4. 5. Debit Credit Credit Credit

Accounting Instructions: Complete the journal entries for the following events. Enter numbers without any format (e.g., 62500; 1800). 1. Issued 7,000 shares of no-par common stock. The market price of the stock is $12 per shar Account Debit Credit Cash Common Stock 2. Issued 3,000 shares of 5%, $100 par, cumulative preferred stock for $122 per share. Account Debit Credit Cash Preferred Stock (PS) Paid-in-Capital in Excess of Par - PS 3. Declared dividends on preferred dividend of 5% per share. Account Debit Cash Dividends Dividends Payable 4. Purchased 500 shares of common stock at $14 for treasury. Account Debit Treasury Stock Cash 5. Paid preferred dividend declared in #3. Account Dividends Payable Cash 1. 2. 3. 4. 5. Debit Credit Credit Credit

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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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
Hi, I need help assembling the following two journal entries. Thanks!
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.
Please follow the format
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
Prepare the journal entry to record Autumn Company's issuance of 71,000 shares of no-par value common stock assuming the shares: a. Sell for $34 cash per share. b. Are exchanged for land valued at $2,414,000. View transaction list Journal entry worksheet 1 Record the issuance of 71,000 shares of no-par value common stock assuming the shares sell for $34 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >
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Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issuance of the preferred, shares. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
On September 1, the board of directors of a company, declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date.Required:1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. need help
Entries for issuing par stock Instructions Chart of Accounts Instructions Journal Final Question On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12. Required: a. Journalize the entries for January 22 and February 27. 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 February 27?
Create journal entries for the following