Prepare the journal entry to record Jevonte Company's issuance of 41,000 shares of its common stock assuming theshares have a:a. $3 par value and sell for $19 cash per share.b. $3 stated value and sell for $19 cash per share.View transaction listJournal entry worksheet<1Record the issuance of 41,000 shares of common stock assuming the shareshave a $3 par value and sell for $19 cash per share.2Note: Enter debits before credits.Transactiona.General JournalDebit Credit

Answer : Date Account title Debit Credit 1 Cash a/c Dr. (41000*$19) $779,000 To common…

Answered: have a: par value and sell for $19 cash…

Business

Accounting

have a: par value and sell for $19 cash per share. stated value and sell for $19 cash per shar

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: DeSoto Tools Incorporated is planning to expand production. The expansion will cost $3,000,000,…

A: We need to use below formulas for calculation of required leverages

Q: Reno Revolvers has an EPS of $2.00, a free cash flow per share of $4.50, and a price/free cash flow…

A: Solution:Price earnings (P/E) ratio shows that how many times the share price is trading in the…

Q: The following information relates to A Ltd and B Ltd. Two companies which operate in the same…

A: Earning Per Share- Earning Per Share is the ratio of a company's earnings for its equity…

Q: If cost of equity is 14 percent, Earnings per share is Rs.18, Dividend payout ratio is 40 percent…

A: Growth rate = Retention ratio * return on investment = (1 - Dividend payout ratio)* return on…

Q: h. Calculate the total return % in each of the following instances: a. Do = $2.00, dividend growth =…

A: Answer Return ={ (Dividend + Capital gain ) / P0}×100

Q: Calculate the total cost, proceeds, and gain (or loss) (in $) for the stock market transaction.…

A: Total cost include the purchase cost of shares and the commission charged. Total proceeds include…

Q: me retention ratio can be computed as: Multiple Choice O O O O 1-Plowback ratio. Change in retained…

A: The retention ratio is a critical financial metric that sheds light on a company's financial…

Q: What is XYZ's estimated cost of common equity using the CAPM approach? Beta 1.2 rRF 7% RPm 6%…

A: We need to compute the Estimated cost of common equity for XYZ using CAPM approach.

Q: If Net Worth = 14, the Market Value of Assets = 250 with duration of 8.0, the Market Value of…

A: Duration of Assets =(Net Worth/Total Assets*Duration of Equity) + (liabilities/Total Worth*Duration…

Q: f the face value of both the shres is same then which investment out of following. is more…

A: To determine which investment is more profitable, we need to calculate the dividend yield for each…

Q: Calculation of individual costs and WACC BlackRock, Inc. (BLK) has a capital structure that consists…

A: Part 2: Explanation:a. To calculate the market value weights, divide the market capitalization of…

Q: Price earning ratio: market price per common share/ earning per share $3,388/$42.64= 79.46 (Amazon…

A: The Price Earnings ratio of the company in valuation that is Amazon has been increased in the…

Q: Which of the following positions could be associated with the profit diagram belo a.long 80-strike…

A: Options gives opportunity to buy or sell stock on expiration but there is no obligation to do that…

Q: High Step Shoes had annual revenues of $197,000, expenses of $109,700, and dividends of $22,800…

A: A journal entry is used to record a commercial transaction in the accounting records of a…

Q: Determine the cost of common stock (equity). The T-Bill rate is 5.2%. The Market Return is 12.7%.…

A: Market Return = 12.7%Beta = 1.27T-Bill Rate = Risk Free Rate = 5.2% ExplanationWe calculate the Cost…

Q: Calculate the plowback ratio given the following information: dividends paid = $120; net income =…

A: The ratio which tells about the proportion of earnings being retained in the business is known as…

Q: Trout and the market data of Salmon for the weights in the weighted average cost of capital: If the…

A: Given Data: Book valueDebt 7896109Equity4003759Cost of Debt = 10.3%Cost of Equity = 14.38%

Q: If assets are $328,000 and liabilities are $189,000, then equity equals: Multiple Choice $328,000.…

A: The accounting equation, Assets = Liabilities + Equity, shows how a company's resources (assets) are…

Q: calculate indexed dividend % if total dividend paid is rs 445,000 and base market capitalization of…

A: Dividend percentage refers to the dividend yield, it is the ratio of dividend per share to the…

Q: Identify which company’s shares you would recommend as the better investment. Provide explanations.…

A: Ratio Analysis: It is the analyze of Company's financial and trend of the company's results to…

Q: ose that there are one million outstanding shares of the firm, va

A: (a) Financing Package Asset in Million Debt in Million Equity in Million No of Shares Debt to…

Q: Calculate the total cost, proceeds, and gain (or loss) (in $) for the stock market transaction.…

A: Answer Number of share = 700 Commission on buying = 3% Purchase price = $27.37

Q: Calculate the total cost, proceeds, and gain (or loss) (in $) for the stock market transaction.…

A: Commission in this stock market transaction is lived on both buying and selling. Here Total cost…

Q: AA8 The adjusted trial balance of ZZZ Corp. on December 31, 2021 includes the following account…

A: Preference shareholders enjoy the preference of capital redemption in the event of liquidation of…

Q: Two capital assets display the following: E(RA) = 12% σA = 1.5% E(RB) = 15%…

A: Slope = (E(RA) + asset A´s return below the Capital Market Line) - (E(RB) + asset B´s return below…

Q: Suppose TRF = 5%, M = 12%, and b;= 0.75, what is the cost of equity? 5.00% 10.25% 12.00% 6.00%

A: CAPM refers to the model that uses the risk factor and the returns prevalent in the market to…

Q: Calculate the total cost, proceeds, and gain (or loss) (in $) for the stock market transaction.…

A: Purchase cost of buying Stock :— It is calculate by adding all the cost paid for the acquisition of…

Q: Equity share are known as:

A: Equity shares are the shares which provides its holders the ownership rights and right to vote…

Q: Calculate the total cost (in $), proceeds (in $), total gain (or loss) (in $), and return on…

A: Return on Investment The profit or loss received from an investment made by the investor is known as…

Q: Ami Bhd. Preference share pay a dividend of RM 0.65 pa. if your required return is 8% p.a, what is…

A: Preference Share Dividend = 0.65 Required Return = 8% Intrinsic Value = ?

Q: Assume that a company’s market beta equals 0.6, the risk-free rate is 5%, and the market return…

A: As per CAPM, Expected Return = Rf +Beta (Rm-Rf)

Q: Dunlop Corp. has computed its cost of equity as 15% using the discounted cash flow method, 14% using…

A: Cost of equity can be determined using three different ways. a) Capital Asset pricing Method where,…

Question

Prepare the journal entry to record Jevonte Company's issuance of 41,000 shares of its common stock assuming the
shares have a:
a. $3 par value and sell for $19 cash per share.
b. $3 stated value and sell for $19 cash per share.
View transaction list
Journal entry worksheet
<
1
Record the issuance of 41,000 shares of common stock assuming the shares
have a $3 par value and sell for $19 cash per share.
2
Note: Enter debits before credits.
Transaction
a.
General Journal
Debit Credit

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Calcualte the Cost of Preferred Stock: Par value = $100 Annual dividend = 7.5% of par Market value = $102 Flotation cost = 4%
If a bank has a leverage ratio of 0.5 and a return on assets of 1%, what is its return on equity? Select one: OA 0.2% O B. 2% OC 5% O D. 20%
h. Calculate the total return % in each of the following instances: a. Do = $2.00, dividend growth = 4%, Po = $50, P: = $60 b. Po = $32, Dividend yield % = 5%, P1 = $30 c. Dividend Yield = 4%; Capital Gain = %3D $20; DI = $4
If assets are $348,000 and liabilities are $188,000, then equity equals: 3. Multiple Choice 1.66 polnts 02:58:50 $160,000. $188,000. $348,000. $536,000. $884,000. Mc Graw ...
A- Operating Income ($) Interest Equity earning ($) Earnings Per share ($) Return on share (%)
Assume you are given the following information for firms A and B: A В $1,563,400.00 $2,357,316.00 $2,051,347.00 $1,257,431.00 Price $31.25 $31.25 i 13.52% 13.52% EBIT $97,347.00 $97,347.00 No taxes How do you replicate an investment in 79% of stock B by using stock A? What is the return of the replicating strategy?
Example The following data were assembled for General Stores Corporation: Equity (Market Risk) Premium: 4.9% Size Premium: 1.8% Value Premium: 3.0% Current Risk-Free Rate: 3.5% Market Beta: 1.05 Size Beta: -0.315 Value Beta: -0.224 Using the data above, estimate General Stores' cost of equity using the Fama- French Model.
The following data are taken from the books of a dealer in securities: How mu ch is the outputtax using 12% rate? Share held as inventory Share held as investment Selling price 3,000,000 2,000,000 Acquisition cost 1,000,000 1,500,000 Oth er Income 200,000
Calculate the total cost proceeds and gain or loss in dollars for the stock market transaction?
klp.1
What is the answer ?
Para Inc is trading at a forward (EV/FCFF1) Ratio of 20, a forward (EV/ (EBIT1 (1-Tc)) ratio of 10 and (EV/ Capital) ratio of 2. Based on the information, answe the following A. Para Inc. Return on capital equal to ? B. Para Inc. Growth rate equal to ? C. Weighted average cost of capital equal to?