During its first year of operations, Johnson Corporation had the following transactions pertaining to its common stock. Jan. 10   Issued 80,800 shares for cash at $6 per share. Mar. 1   Issued 5,000 shares to attorneys in payment of a bill for $36,400 for services rendered in helping the company to incorporate. July 1   Issued 32,600 shares for cash at $8 per share. Sept. 1   Issued 61,800 shares for cash at $10 per share.   (a)   Prepare the journal entries for these transactions, assuming that the common stock has a par value of $4 per share. (b)   Prepare the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per shar

The following is from the 2024 annual report of Kaufman Chemicals, Incorporated: Statements of Comprehensive Income Net income Other comprehensive income: Change in net unrealized gains on AFS investments, net of tax of $31, ($19), and $21 in 2024, 2023, and 2022, respectively Other Total comprehensive income ($ in millions) Shareholders' equity: Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income Total shareholders' equity Accumulated other comprehensive income, 2023 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows: Accumulated other comprehensive income, 2024 2024 $395 9,383 8,463 138 $ 18,379 ($ in millions) Years Ended December 31 2023 2024 2022 $818 $ 673 $988 44 (2) $ 1,030 2023 (27) (3) $788 $395 9,383 7,907 96 $ 17,781 Required: 3. From the information provided, determine how Kaufman calculated the $138 million accumulated other comprehensive income in 2024.…

During its first year of operations, Bramble Corporation had the following transactions pertaining to its common stock. Jan. 10   Issued 81,500 shares for cash at $6 per share. Mar. 1   Issued 5,000 shares to attorneys in payment of a bill for $36,200 for services rendered in helping the company to incorporate. July 1   Issued 33,300 shares for cash at $8 per share. Sept. 1   Issued 62,400 shares for cash at $10 per share. (a)       Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.)

OM, Inc. was organized on January 1, 20X7. The firm was authorized to issue 1,000,000 shares of $2 par value common stock.  During 20X7, OM had the following transactions relating to stockholders' equity:  Issued 20,000 shares of common stock at $7 per share. Issued 40,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is the total amount recorded in the Common Stock account at the end of 20X7?

Prepare the journal entries for these transactions, assuming that the common stock has a par value of $4 per share. (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.) Date Account Titles and Explanation Debit Cre (a) > >

EhrlichCo. had the following transactions during the current period. Mar.  2     Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $40,000 for services performed in helping the company to incorporate.June 12     Issued 60,000 shares of $5 par value common stock for cash of $365,000.July  11     Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Aug.  15    Issued 20,000 shares of common stock for a building with an asking price of $150,000 and a fair value of $140,000Nov. 28     Purchased 2,000 shares of treasury stock for $80,000. Dec. 15     Sold 500 shares of the treasury stock for $45 per shareInstructions: 1. Journalize the transactions. 2. Prepare the stockholders' equity section of the balance sheet. Use the following example as a guide. For Retained Earnings for this example, you can use $1,050,000. Stockholders’ equity         Paid-in capital:        Capital stock:        9% preferred stock, $100 par value,…

Concord Corporation had the following transactions during the current period. Mar. 2 Issued 3,600 shares of $5 par value common stock to attorneys in payment of a bill for $21,600 for services performed in helping the company to incorporate. June 12 Issued 70,000 shares of $5 par value common stock for cash of $437,500. July 11 Issued 1,500 shares of $100 par value preferred stock for cash at $107 per share. Purchased 1,800 shares of treasury stock for $72,000. Nov. 28 Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically inc when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" fo. account titles and enter O for the amounts.)

Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 41,000 shares at $10 share. Jun. 10 Issued 130,000 shares in exchange for land with a clearly determined value of $830,000. Aug. 3 Purchased 8,000 shares of treasury stock at $9 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31   fill in the blank 5b050cfc1fe8fc9_2 fill in the blank 5b050cfc1fe8fc9_3     fill in the blank 5b050cfc1fe8fc9_5 fill in the blank 5b050cfc1fe8fc9_6     fill in the blank 5b050cfc1fe8fc9_8 fill in the blank 5b050cfc1fe8fc9_9 Jun. 10   fill in the blank 5b050cfc1fe8fc9_11 fill in the blank 5b050cfc1fe8fc9_12     fill in the blank 5b050cfc1fe8fc9_14 fill in the blank 5b050cfc1fe8fc9_15     fill in the blank 5b050cfc1fe8fc9_17 fill in the blank 5b050cfc1fe8fc9_18 Aug. 3   fill in the…