The Sneed Corporation issues 10,900 shares of $49 par preferred stock for cash at $63 per share. The entry to record the transaction will consist of a debit to Cash for $686,700 and a credit or credits to:
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Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…
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A:
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Q: Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20.…
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A: Calculate the value of land at the date of stock issue.
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A: Stocks: Stocks are shares in the ownership of the company. It represents the capital raised by a…
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A: When shares are sold by a corporation in excess of par, cash is received and an increase in cash is…
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A: Treasury stock = Shares purchased*Cash price Treasury stock = 500*8 Treasury stock = 4000…
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A: Issue price of preferred stock=Number of Shares×Issue price=20,000×$90=$1,800,000
Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The…
A: Cash received = 10,000 x $75 = $750,000 Preferred stock = 10,000 x $50 = $500,000 Excess = 10,000 x…
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A: Common stock (shares)=$706,500$15=47,100 shares
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Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $62 per share. The…
A: Cash received = 10,000 shares x $62 = $620,000 Par value per share = $50 Paid in capital in excess…
The Sneed Corporation issues 10,900 shares of $49 par
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- Nexis Corp. issues 1,900 shares of $12 par value common stock at $17 per share. When the transaction is recorded, what credit entry or entries are made?Monty Inc. issues 4,550 shares of $100 par value preferred stock for cash at $140 per share. Journalize the issuance of the preferred stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit CreditBlue Spruce Inc. issues 5,050 shares of $100 par value preferred stock for cash at $150 per share. Journalize the issuance of the preferred stock. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
- On July 1, Wildhorse Co. purchases 560 shares of its $5 par value common stock for the treasury at a cash price of $10 per share. On September 1, it sells 370 shares of the treasury stock for cash at $11 per share.Journalize the two treasury stock transactions. Date Account Titles and Explanation Debit Credit Choose a transaction date Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amountOn January 3, Melrose Corporation purchased 1,800 shares of the company's $1 par value common stock as treasury stock, paying cash of $11 per share. On January 30, Melrose sold 1,450 shares of the treasury stock for cash of $12 per share. Journalize these transactions (Record debits first then credits Explanations will appear on the last line of the journal entry table.)ABC Corporation issues 5,000 ordinary shares with a $50 par value for cash at $55 per share. The entry to record the transaction will consist of a debit to Cash for $275,000 and a credit or credits to
- The Snow Corporation issues 9,900 shares of $54 par value preferred stock for cash at $62 per share. The entry to record the transaction will consist of a debit to Cash for $613,800. What credit or credits will the entry consist of? Select the correct answer. Preferred Stock for $534,600 and Retained Earnings for $79,200. Preferred Stock for $613,800. Paid-in Capital from Preferred Stock for $613,800. Preferred stock for $534,600 and Paid-in Capital in Excess of Par Value - Preferred Stock for $79,200.Sunland Company had these transactions during the current period. June 12 Issued 83,500 shares of $1 par value common stock for cash of $313,125. July 11 Issued 3,450 shares of $101 par value preferred stock for cash at $105 per share. Nov. 28 Purchased 2,950 shares of treasury stock for $8,450. Prepare the journal entries for the Sunland Company transactions shown above. (Record journal entries in the order presented in the problem. 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit choose a transaction date June 12July 11Nov. 28 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title…On January 2, Carlton, Incorporated, issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date Jan. 2 Cash Common stock General Journal Debit Credit
- On July 1, Blue Spruce Corporation purchases 460 shares of its $5 par value common stock for the treasury at a cash price of $10 per share. On September 1, it sells 210 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions. (List all debit entrles before credlt entrles. Record Journal entrles In the order presented in the problem. Credit account titles are automatically Indented when amount Is entered. Do not Indent manually.) Debit Credit Date Account Titles and ExplanationBlossom Company had these transactions during the current period. June 12 Issued 83,500 shares of $1 par value common stock for cash of $313,125. July 11 Issued 2,800 shares of $101 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 3,350 shares of treasury stock for $8,450. Prepare the journal entries for the Blossom Company transactions shown above. (Record journal entries in the order presented in the problem. 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 0 for the amounts.)Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal