Current Attempt in ProgressColdplay Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of$100,000.b.(List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, e.g. 1,225. Creditaccount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for theaccount titles and enter O for the amounts.)Prepare the journal entry for the issuance when the market price of the common shares is $165 each and market price of thepreferred is $230 each.Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $170 per share.No. Account Titles and Explanationa.b.DebitCredit

Paid-in capital in excess of par, also known as additional paid-in capital, represents the amount…

Answered: Coldplay Inc. issues 500 shares of $10…

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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Ehrlich Corporation's common stock had a $10 par value and the preferred stock had a $50 par value. Journalize the following independent transactions: a. Issued 600 shares of common stock for equipment. The equipment had been appraised at $7,100; the seller's book value was $6,200. The most recent market price of the common stock is $16 a share. b. Issued 375 shares of common and 100 shares of preferred for a lump sum amounting to $10,800. The common had been selling at $14 and the preferred at $65. c. Issued 200 shares of common and 50 shares of preferred for equipment. The common had a fair value of $16 per share; the equipment has a fair value of $6,500.
Maxville Company issues 350 shares of $40 par preferred stock and 1,000 shares of $5 par common stock in a “package” sale on December 31. Total proceeds received amount to $38,500. Required: Record the transaction for each independent assumption shown: 1. The common stock has a current market value of $19 per share; the current market value of preferred stock is not known. 2. The common stock and the preferred stock have a current market value per share of $22 and $59, respectively.
Sage Corporation issued 392 shares of $10 par value common stock and 128 shares of $50 par value preferred stock for a lump sum of $17,424. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.Prepare the journal entry to record the issuance.
Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for:
Sandhill Storage Products purchased 11600 shares of its own $0.75 par value common stock at a cost of $8 per share. The stock was originally issued at $7 per share. Which of the following is part of the journal entry to record the purchase? Credit Common Stock for $92800. O Debit Treasury Stock for $8700. Debit Treasury Stock for $92800. O Credit Common Stock for $8700.
hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital—Common Stock account for $1,060,800. Required: How many shares were issued?fill in the blank 1 shares
Novak Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $125,000. a. b. Prepare the journal entry for the issuance when the market price of the common shares is $181 each and market price of the preferred is $226 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $220 per share.
Vikrambhai
On Jan 1, Niumbus ent. issues 4,550 shares of no-par common stock at a cash price of P9 per share. Journalize the issuance of the shares assuming the stock has a stated value of P1 per share.
Your answer is partially correct. Bridgeport Corporation issued 384 shares of $10 par value common stock and 144 shares of $50 par value preferred stock for a lump sum of $19,872. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock Debit 19872 Credit 3840 7200
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