On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on November 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80.a. Journalize the entries for October 31 and November 19.b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?

Sheffield Corp. has these accounts at December 31: Common Stock, $12 par, 6,000 shares issued, $72,000; Paid-in Capital in Excess of Par Value $19,500; Retained Earnings $44,500; and Treasury Stock, 550 shares, $12,100. Prepare the stockholders' equity section of the balance sheet. Sheffield Corp. Balance Sheet (Partial) December 31 $ $1

Astro Corporation was started with the issue of 5,500 shares of $11 par stock for cash on January 1, Year 1. The stock was issued at a market price of $20 per share. During Year 1, the company earned $68,450 in cash revenues and paid $45,862 for cash expenses. Also, a $4,800 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Prepare a statement of changes in stockholders' equity. ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 $ 10 Beginning common stock Plus: Issuance of common stock Ending common stock Beginning retained earnings Plus: Net income Less: Dividend Ending retained earnings Total stockholders' equity Answer is complete but not entirely correct. Balance Sheet…

Astro Corporation was started with the issue of 4,500 shares of $10 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $71,100 in cash revenues and paid $47,637 for cash expenses. Also, a $4,100 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Balance Sheet Stmt of Cash Flows Income Stmt of Statement Changes Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1

Astro Corporation was started with the issue of 5.500 shares of $11 par stock for cash on January 1, Year 1. The stock was issued at a market price of $20 per share. During Year 1, the company earned $68,450 in cash revenues and paid $45,862 for cash expenses. Also, a $4,800 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Prepare the income statement. Stmt of Cash Flows ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 Stmt of Changes >

On January 1, Icecap had 7,900 shares of $2 par common stock issued and outstanding. The following transactions occurred during the year. April 15: Declared a cash dividend of $0.80 per share to stockholders of record on May 31. July 10: Paid the $0.80 cash dividend. A Prepare the entry to declare the dividends. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Date Account Titles and Explanation Apr. 15 Cash Dividends Dividends Payable (To record declaration of cash dividend) Debit Date Account Title Credit B. Prepare the entry to pay the dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.)

Prepare journal entries for each of the following transactions of Telecommunications, Inc. Apr. 15 Declared a dividend of $1.43 per share on 11,000 shares of preferred stock outstanding. May 19 Paid the dividend declared on April 15.

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 60,000 shares of $25 par common stock at $85, and on February 27, it issued for cash 120,000 shares of preferred stock, $5 par at $9. a.  Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. b.  What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

Indigo Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1   Issued 53,500 shares for cash at $52 per share. July 1   Issued 70,500 shares for cash at $57 per share. 1. Journalize the transactions. 2. Post to the stockholders’ equity accounts. (Use T-accounts.)

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