To expand aperations, Aragon Consulting issued 1000 shares of previously unissued common stock with no-par value.Required:1. Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at$50.2 Prepare the journal entry for the issuance of the no-par value stock at $50.

To expand aperations, Aragon Consulting issued 1000 shares of previously unissued common stock with no-par value. Required: 1. Complete the table below, indicating the account, amount, and drection of the effect for the issuance of the no-par value stock at $50 2. Prepare the journal entry for the issuance of the no-par value stock at $50.

To expand aperations, Aragon Consulting issued 1000 shares of previously unissued common stock with no-par value. Required: 1. Complete the table below, indicating the account, amount, and drection of the effect for the issuance of the no-par value stock at $50 2. Prepare the journal entry for the issuance of the no-par value stock at $50.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Haresh
Prepare the journal entry to record Jevonte Company's issuance of 41,000 shares of its common stock assuming the shares have a: a. $3 par value and sell for $19 cash per share. b. $3 stated value and sell for $19 cash per share. View transaction list Journal entry worksheet < 1 Record the issuance of 41,000 shares of common stock assuming the shares have a $3 par value and sell for $19 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet using Method 1 ofExhibit 8. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. One hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $2 par$ 150,000Paid-In Capital from Sale of Treasury Stock60,000Paid-In Capital in Excess of Par—Common Stock2,250,000Retained Earnings10,880,000Treasury Stock140,000.
Entity H issued 9,000 shares of its $1 par value common stock for $20 per share. Which of the following statements is correct? Hint: Make the journal entry first. Common stock should be credited for $180,000. Cash should be credited for $180,000. Paid-in-capital-in-excess-of-par-value should be debited for $171,000. Common stock should be credited for $9,000.
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
On May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $5) at $14, and on May 15, it issued for cash 2,000 shares of $18 par preferred stock at $58. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. May 10 May 15
Sandhill Storage Products purchased 11600 shares of its own $0.75 par value common stock at a cost of $8 per share. The stock was originally issued at $7 per share. Which of the following is part of the journal entry to record the purchase? Credit Common Stock for $92800. O Debit Treasury Stock for $8700. Debit Treasury Stock for $92800. O Credit Common Stock for $8700.
hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital—Common Stock account for $1,060,800. Required: How many shares were issued?fill in the blank 1 shares
please help solve these questions again
Bridgeport Corporation issued 590 shares of no-par common stock for $8,800.Prepare Bridgeport’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (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.
Your answer is partially correct. Bridgeport Corporation issued 384 shares of $10 par value common stock and 144 shares of $50 par value preferred stock for a lump sum of $19,872. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, e.g. 0.546872 and final answers to 0 decimal places, e.g., 1,520. 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.) Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock Debit 19872 Credit 3840 7200
Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a: a. $2 par value and sell for $18 cash per share. b. $2 stated value and sell for $18 cash per share. View transaction list Journal entry worksheet 1 2 Record the issuance of 36,000 shares of common stock assuming the shares have a $2 par value and sell for $18 cash per share. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal