Ivanhoe Company had these transactions during the current period. June 12   Issued 86,500 shares of $1 par value common stock for cash of $324,375. July 11   Issued 3,100 shares of $103 par value preferred stock for cash at $108 per share. Nov. 28   Purchased 1,800 shares of treasury stock for $9,350.

On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at $32 per share. On May 10, Dee-Light issued at par 4,200 shares of preferred 3% stock, $20 par for cash. On June 22, Dee-Light issued for cash 27,650 shares of 3%, $25 par value preferred stock at $31 per share. Determine the amount of cash that Dee-Light will receive from each of these stock issuances. Issue Date   Cash Received January 6     May 10     June 22     Recording in the Accounting System Journalize the entry to record the January 6 issuance of common stock. If an amount box does not require an entry, leave it blank or enter "0". Jan. 6                       Journalize the entry to record the May 10 issuance of preferred stock. May 10   fill in the blank         fill in the blank Journalize the entry to record the June 22 issuance of preferred stock. If an amount box does not require an entry, leave it blank or enter "0".…

Dwight Corporation in its first year of operations had the following stock transactions.             Record each transaction in the journal provided.                           Mar 3 Issued 10,000 shares of common stock, $1 par value, for cash of $50,000.                         Apr 12 Issued 500 shares of preferred stock, $10 par value, for cash of $12,500.                         Jul 8 Issued 2,000 shares of preferred stock, $10 par value, in exchange for land             valued at $60,000.

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 150,000 shares in exchange for land with a clearly determined value of $850,000. Aug. 3 Purchased 8,000 shares of treasury stock at $8 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 Cash  fill in the blank 6111daf96023f8f_2 fill in the blank 6111daf96023f8f_3   Common Stock  fill in the blank 6111daf96023f8f_5 fill in the blank 6111daf96023f8f_6   Additional Paid-in Capital from Common Stock  fill in the blank 6111daf96023f8f_8 fill in the blank 6111daf96023f8f_9 Jun. 10 Land  fill in the blank 6111daf96023f8f_11 fill in the blank 6111daf96023f8f_12   Common Stock  fill in the blank 6111daf96023f8f_14 fill in the blank 6111daf96023f8f_15   Additional Paid-in…

McVie Corporation’s stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 330,000 shares at $5 share. Jun. 7 Issued 93,000 shares in exchange for equipment with a clearly determined value of $205,000. Sep. 19 Purchased 2,700 shares of treasury stock at $7 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Feb. 28   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 Jun. 7   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15     fill in the blank 17 fill in the blank 18 Sep. 19   fill in the blank 20 fill in the blank 21     fill in the blank 23 fill in the blank 24

On January 1, Oriole Corporation had 61,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Issued 11,250 additional shares of common stock for $11 per share. Declared a cash dividend of $1.90 per share to stockholders of record on June 30. Paid the $1.90 cash dividend. Issued 5,000 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. Apr. 1 June 15 July 10 Dec. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to O decimal places, e.g.…

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On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1   Issued 25,000 additional shares of common stock for $17 per share. June 15   Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10   Paid the $1 cash dividend. Dec. 1   Issued 2,000 additional shares of common stock for $19 per share.   15   Declared a cash dividend on outstanding shares of $1.2 per share to stockholders of record on December 31. (a)Prepare the entries, on each of the three dividend dates. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

On January 1, 2020, Triad Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar 1 Issued 25,000 shares of common stock for $550,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 5,000 shares of common stock for the treasury for $22 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31. Prepare journal entries to record the above transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date Mar. 1 Debit Credit

Prepare the appropriate general journal entries for the following treasury stock transactions of Aberdeen Inc. Oct. 15 Purchased 7,000 shares of its $15 par common stock for $70,000 and placed the stock in the treasury. Dec.  1 Sold 2,000 shares of the treasury stock for $18,000 cash. Dec. 31 Sold the remaining treasury stock for $56,000 cash.