Larkspur Corporation was organized on January 1, 2020. It is authorized to issue 9,600 shares of 8%, $100 par value preferred stock, and 501,500 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Mar. 1 Apr. 1 May 1 Aug. 1 Sept. 1 Nov. 1 Issued 80,050 shares of common stock for cash at $6 per share. Issued 5,930 shares of preferred stock for cash at $113 per share. Issued 24,680 shares of common stock for land. The asking price of the land was $90,820; the fair value of the land was $80,050. Issued 80,050 shares of common stock for cash at $8 per share. Issued 9,600 shares of common stock to attorneys in payment of their bill of $50,400 for services rendered in helping the company organize. Issued 9,600 shares of common stock for cash at $10 per share. Issued 1,100 shares of preferred stock for cash at $115 per share. Prepare the journal entries to record the above transactions. (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.)

A: Return on equity (ROE) is the returns produced by a company on its equity capital. It is expressed…

A: Net Present Value (NPV) is the technique used to discount the cash flows generated over the period…

A: feel free to ask me any question within my capacity and I'm willing to help.

A: Here asked for the journal entry related with the construction of library and its total proceedings…

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

A: Debt to assets ratio means ratio between total debt and total assets in the business.

A: Shareholder's equity, often referred to as stockholders equity, is an account on the company's…

A: The t-accounts are as follows:

A: The core principle in IAS 36 is that an asset must not be carried in the financial statements at…

A: Example of CIRO: A note book valued at $5 CAD is being transported through courier would be exempt…

A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

A: Banks provide various services to the organizations such as lock box facility, overdraft facility,…

A: FIFO is a type of inventory management system where stock purchased earlier will be sold first and…

A:

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

A: As per the given information: The time value of money concept states that earlier receipts are more…

A: Part a: Total direct material cost increases or decreases in direct proportion to change in activity…

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

A: A white knight is hostile acquisition security by which a 'friendliness' person or business who…

A: Asset is such resources that has future benefits. It has two types:- tañgible , intangible.…

A: A white knight is hostile acquisition security by which a 'friendliness' person or business who…