Willow Creek Nursery, with an authorization of 73,000 shares of preferred stock and 180,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows:   Willow Creek Nursery UNADJUSTED TRIAL BALANCE October 1, 20--     ACCOUNT TITLE DEBIT CREDIT 1 Cash 3,978,000.00   2 Land 862,000.00   3 Buildings 1,922,000.00   4 Preferred 1% Stock, $80 par   2,560,000.00 5 Paid-In Capital in Excess of Par-Preferred Stock   224,000.00 6 Common Stock, $30 par   3,510,000.00 7 Paid-In Capital in Excess of Par-Common Stock   468,000.00 8 Totals 6,762,000.00 6,762,000.00       All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings. Journalize the two entries to record the transactions summarized in the trial balance. Refer to the Chart of Accounts for exact wording of account titles.

Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,200 shares of its common stock at $77 per share. On September 22, Mystic Lake sold 3,600 of the reacquired shares at $85 per share. The remaining 1,600 shares were sold at $74 per share on November 23. a.  Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry, leave it blank. July 9 Treasury Stock  fill in the blank 10c23a02efe4076_2 fill in the blank 10c23a02efe4076_3   Cash  fill in the blank 10c23a02efe4076_5 fill in the blank 10c23a02efe4076_6 Sept. 22 Cash  fill in the blank 10c23a02efe4076_8 fill in the blank 10c23a02efe4076_9   Treasury Stock  fill in the blank 10c23a02efe4076_11 fill in the blank 10c23a02efe4076_12   Paid-In Capital from Sale of Treasury Stock  fill in the blank 10c23a02efe4076_14 fill in the blank 10c23a02efe4076_15 Nov. 23 Cash  fill in the blank 10c23a02efe4076_17 fill in…

On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 320,000 shares of no-par common stock (with a stated value of $2) at $6, and on August 3, it issued for cash 30,000 shares of $65 par preferred stock at $68. a.  Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. For a compound transaction, if an amount box does not require an entry, leave it blank. Feb. 12 Cash                      Aug. 3                         b.  What is the total amount invested (total paid-in capital) by all stockholders as of August 3?$

On May 10, Blue Spruce Corporation issues 3,050 shares of $10 par value common stock for cash at $20 per share. Journalize the issuance of the stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit

Prepare journal entries for Eddington Corp. for the following transactions: 5/25/23: Purchased 3,000 shares of Vistavia Corp. common stock at $30 per share plus $2,700 in brokerage fees. 9/23/23: Sold 500 shares of Vistavia Corp. common stock at $28 per share.

Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock.  Indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account and the dollar amount in the amount columns assuming that Sunshine Corp on Jan . 15  received cash for the issuance of 2,000 shares of preferred stock at par value.                                                     JOURNAL   Date Description P.Ref DEBIT CREDIT Jan. 15 (1)   (?)         (2)     (?)       (2)     (?) Group of answer choices Preferred Stock debit $200,000 Paid-In Capital in Excess Par - Preferred Stock debit for $10,000 Cash debit for $200,000 Cash debit for $10,000

On July 1, Flint Corporation purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 260 shares of the treasury stock for cash at $12 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit

Prepare journal entries to record the following investment-related transactions of a company for its first year of operations: On May 4, the company purchased 600 shares of Orbital Company Stock at $140 per share as a short-term investment in an available-for-sale security. On July 1, received a $2.50 per share cash dividend on the Orbital Company stock purchased in transaction (a). On September 15, sold 250 shares of Orbital Company stock purchased in transaction (a) for $85 per share On October 15, sold 100 shares of Orbital Company stock purchased in transaction (a) for $185 per share

Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: 20Y2     Feb. 1 Purchased 6,600 shares of Caldwell Inc. common stock at $43 per share plus a brokerage commission of $660. Caldwell has 100,000 shares of common stock outstanding. May 1 Purchased securities of Holland Inc. as a trading investment for $82,998. July 1 Sold 3,430 shares of Caldwell Inc. for $41 per share less a $115 brokerage commission.   31 Received an annual dividend of $0.25 per share on 3,170 shares of Caldwell Inc. stock. Nov. 15 Sold the remaining shares of Caldwell Inc. for $44 per share less a $95 brokerage commission. Dec. 31 The trading securities of Holland Inc. have a fair value on December 31 of $74,343.   Record these transactions on page 11: 20Y3     Apr. 1 Purchased…