please give ruight answer explain for 27 nov 1. Record the transactions in the general journal. 1-Feb: Issued 23,000 shares of Common Stock at $27 per share. Date Account DR CR 6-Feb Cash Correct $621,000 Correct Common Stock $10 Par Value Correct $230,000 Correct Paid-in Capital in Excess of Par Value-Common Stock Correct $391,000 Correct 6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share. Date Account DR CR 6-Feb Stock Dividend Correct $27,500 Correct Common Stock Dividend Distributable Correct $11,000 Correct Paid-in Capital in Excess of Par Value-Common Stock Correct $16,500 Correct 15-Feb: Distributed the stock dividend Date Account DR CR 15-Feb Common Stock Dividend Distributable Correct $11,000 Correct Common Stock $10 Par Value Correct $11,000 Correct 29-Jul: Purchased 2,000 shares of treasury stock at $25 per share Date Account DR CR 29-Jul Treasury Stock-Common Correct $50,000 Correct Cash Correct $50,000 Correct 27-Nov: Declared a cash dividend of $0.20 per share Date Account DR CR 27-Nov Cash Dividend Correct Incorrect Dividends Payable-Common Stock Correct Incorrect
please give ruight answer explain for 27 nov 1. Record the transactions in the general journal. 1-Feb: Issued 23,000 shares of Common Stock at $27 per share. Date Account DR CR 6-Feb Cash Correct $621,000 Correct Common Stock $10 Par Value Correct $230,000 Correct Paid-in Capital in Excess of Par Value-Common Stock Correct $391,000 Correct 6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share. Date Account DR CR 6-Feb Stock Dividend Correct $27,500 Correct Common Stock Dividend Distributable Correct $11,000 Correct Paid-in Capital in Excess of Par Value-Common Stock Correct $16,500 Correct 15-Feb: Distributed the stock dividend Date Account DR CR 15-Feb Common Stock Dividend Distributable Correct $11,000 Correct Common Stock $10 Par Value Correct $11,000 Correct 29-Jul: Purchased 2,000 shares of treasury stock at $25 per share Date Account DR CR 29-Jul Treasury Stock-Common Correct $50,000 Correct Cash Correct $50,000 Correct 27-Nov: Declared a cash dividend of $0.20 per share Date Account DR CR 27-Nov Cash Dividend Correct Incorrect Dividends Payable-Common Stock Correct Incorrect
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please give ruight answer explain for 27 nov 1. Record the transactions in the general journal. |
||||||
1-Feb: Issued 23,000 shares of Common Stock at $27 per share. | ||||||
Date | Account | DR | CR | |||
6-Feb | Cash | Correct | $621,000 | Correct | ||
Common Stock $10 Par Value | Correct | $230,000 | Correct | |||
Paid-in Capital in Excess of Par Value-Common Stock | Correct | $391,000 | Correct | |||
6-Feb: Declared a 5% stock dividend. The market value of the stock on that date was $25/share. | ||||||
Date | Account | DR | CR | |||
6-Feb | Stock Dividend | Correct | $27,500 | Correct | ||
Common Stock Dividend Distributable | Correct | $11,000 | Correct | |||
Paid-in Capital in Excess of Par Value-Common Stock | Correct | $16,500 | Correct | |||
15-Feb: Distributed the stock dividend | ||||||
Date | Account | DR | CR | |||
15-Feb | Common Stock Dividend Distributable | Correct | $11,000 | Correct | ||
Common Stock $10 Par Value | Correct | $11,000 | Correct | |||
29-Jul: Purchased 2,000 shares of |
||||||
Date | Account | DR | CR | |||
29-Jul | Treasury Stock-Common | Correct | $50,000 | Correct | ||
Cash | Correct | $50,000 | Correct | |||
27-Nov: Declared a cash dividend of $0.20 per share | ||||||
Date | Account | DR | CR | |||
27-Nov | Cash Dividend | Correct | Incorrect | |||
Dividends Payable-Common Stock | Correct | Incorrect |
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