St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000 shares of $1 stated value common stock. During the year, the company has the following transactions: Jan. 31 Issued 136,000 common shares at $12 share. Jun. 10 Issued 164,000 preferred shares in exchange for land with a clearly determined value of $870,000. Aug. 3 Issued 9,000 shares of common stock for $8 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

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A: b) Stockholders' Equity   Preferred stock (5000*$30) $ 150,000 Common stock…

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Q: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and…

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A: January 1: Issuance of Common StockGiven:Issued 29,000 shares of common stock at $27 per share.$7…

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A:

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Q: Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 300,000 shares of $10 par…

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A:

Q: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Eacha nd…

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.