Hanson Co. issued 10,000 shares of its $5 par common stock for $15 a share. Assume the sale occurred after the initial issuance at incorporation. The entry to record the sale and related expenses would include a Group of answer choices a. credit to Additional Paid-in Capital on Common Stock for $81,500. b. credit to Organization Expense for $18,500. c. credit to Common Stock for $150,000 d. debit to Cash for $150,000.

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: Grouper Corporation began operations on April 1 by issuing 54,000 shares of $5 par value common…

A: Common stock alludes to stock in a corporation held by people having the right to participate in the…

Q: On February 22, Brett Corporation acquired 180 shares of its $3 par value common stock for $26 each.…

A: The accounting entry on purchase of treasury share at 26 was Debit Treasury stock 4680 and credit…

Q: Q. question 4

A: Prepare entry for reselling the shares.

Q: On September 1, 1,500 shares of M Company stock are acquired at a price of $24 per share plus a $40…

A: When any security is acquired ,the cost of acquisition would include all brokerage and commission…

Q: During its first year of operations, Eastern Data Links Corporation entered into the following…

A:

Q: A company sold 10,000 shares of its own $1 par value common stock for $60,000. The entry to record…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: (a) Prepare the journal entry for the issuance assuming the par value of the common stock was $5 and…

A:

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: The process of recording business transactions in the books of accounts for the first time is known…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: SOLUTION- SHARE CAPITAL  IS THE MONEY A COMPANY RAISES BY ISSUING SHARES OF A COMMON OR PREFERRED…

Q: 1. How much did the highest bidder pay the corporation? 2. What is the balance of the subscriptions…

A: 800 shares defauled : Therefore, bidder shall pay P16000 plus 5000 auction expenses. Total amount…

Q: Flint Co. had the following transactions during the current period. Mar. 2 Issued 4,100 shares of $6…

A: Increase in assets should be debited. Increase in expense should be debited. Increase in equity…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: Share Capital The purpose of issuing share capital to raise additional fund which are needed by the…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: When a company wants to raise capital through the issue of shares, initially an amount of shares is…

Q: If a corporation issues 1,000 shares of $1 par value common stock for $12,000, the journalentry…

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Q: James Incorporated is authorized to issue 5,000,000 shares of $1 par value common stock. In its…

A: When common stock is issued at price higher the par value , then we need to debit cash as cash is…

Q: Twin Towns, Inc., was authorized to issue 200,000 shares of common stock and originally issued…

A: Given information is: Twin Towns, Inc., was authorized to issue 200,000 shares of common stock and…

Q: On December 2, Coley Corp. acquired 1,400 shares of its $5 par value common stock for $20 each. On…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: In the given question we are provided with the data of Apple Company which is having an authorized…

Q: During its first year of operations, the McCollum Corporation entered into the following…

A: Journal entry for issue of shares:

Q: The entry to record the above transaction would include a a. debit to Cash for $85,000 b. credit to…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: On December 12, ABC Company purchased 1,000 shares of its $2 par value common stock for $27 each. On…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: In the given question we are provided with the data of Apple Company which is having an authorized…

Q:

A: Corporation’s legal capital refers to the total par value of all shares issued by the company so far…

Q: Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it…

A:

Q: During its first year of operations, Bonita Corporation had the following transactions pertaining to…

A: Share issued Known as issued shares, these are the subset of authorized shares that have been sold…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 94,200 shares…

A: Common stock:   These are the ordinary shares that a corporation issues to the investors in order to…

Q: On January 1, Vermont Corporation had 43,000 shares of $9 par value common stock issued and…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: Equity shares are issued at premium over and above the face value of the share when the current…

Q: a. Prepare all of the necessary journal entries to record the events described above.b. Prepare the…

A: Requirement a:   Pass all of the necessary journal entries to record the events.

Q: (a) On January 31, the board of directors issues a requirement to purchase 5,000 shares of its…

A: Particulars Debit Credit a       Jan 31 Treasury Stock 110000             Cash   (5000*22)…

Q: On December 2, Coley Corp. acquired 1,500 shares of its $3 par value common stock for $20 each. On…

A: Solution: Cost of treasury stock resold = 1100*$20 = $22,000

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: Share Capital The purpose issuing the share capital to raise the additional fund which are required…

Q: On January 1, Lorain Corporation had 2,000 shares of $5 par common stock authorized and outstanding.…

A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: In the given question we are provided with the data of Apple Company which is having an authorized…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: A journal entry is recording a transaction in the books of accounts. Each journal entry consists of…

Q: n January 1, Vermont Corporation had 41,000 shares of $12 par value common stock issued and…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: Share Capital The purpose issuing the share capital to raise the additional fund which are required…

Q:

A: Corporation’s legal capital refers to the total par value of all shares issued by the company so far…

Q: On January 1, Vermont Corporation had 46,700 shares of $10 par value common stock issued and…

A: A journal entry is used to record a business arrangement in a company's accounting records. A…

Q: United Resources Company obtained a charter from the state in January of this year. The charter…

A: Stockholders' equity refers to the total amount of capital contributed  by shareholders to a…

Q: On January 1, Vermont Corporation had 46,400 shares of $9 par value common stock issued and…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: During its first year of operations, Eastern Data Links Corporation entered into the following…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: APPLE Company was organized at the beginning of the current year and was authorized to issue share…

A: Share Capital The purpose issuing the share capital to raise the additional fund which are required…

Q: When Bunyan Corporation was formed on January 1, the corporate charter provided for 90,000 shares of…

A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…

Q: Sneed Corporation issues 11,700 shares of $55 par preferred stock for cash at $60 per share. The…

A: Stocks: Stocks are shares in the ownership of the company. It represents the capital raised by a…

Q: During its first year of operations, Eastern Data Links Corporation entered into the following…

A: The following transactions are journalized to show the calculations in the records of Eastern Data…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.