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: Journalize the transactions.

Autumn Corporation was organized in August. It is authorized to issue 100,000 shares of $100 par value 7% preferred stock. It is also authorized to issue 500,000 shares of $5 par value common stock. During the year, the corporation had the following transactions: Journalize the transactions.

MacKenzie Mining Corporation is authorized to issue 50,000 shares of $500 par value 7% preferred stock. It is also authorized to issue 5,000,000 shares of $3 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.

Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $5 par value common stock for $12,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has a $5 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $72,500 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. 1. 2. 2. 2. 3. 3. 4. 4. Assets = = = = = Liabilities + + + + + + + + Equity

A corporation issues 3,100 shares of common stock for $99,200. The stock has a stated value of $15 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $46,500 $3,100 $99,200 $52,700

Prepare to record each of the following four separate issuances of stock 1 A corporation issued 4,000 shares of 5 par value common stock for 35,000 cash 2. A corporation issued 2,000 shares of par common stock to its promotors in exchange for their efforts, estimated to be worti $40,000 . The stock a per stated value. 3. A corporation issued 2,000 shares of par common stock to its promoters in exchange for their effortsestimated to be worth $40,000 The stock has no stated value 4. A issued shares of $50 par value preferred stock for $60,000 cash

Rodriguez Corporation issues 19,000 shares of its common stock for $125,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. The stock has a $4 par value. The stock has neither par nor stated value. The stock has a $2 stated value. Please complete the following: A. Record the issue of 19,000 shares of $4 par value common stock for $125,800 cash. B. Record the issue of 19,000 shares of no-par, no-stated value common stock for $125,800 cash. C. Record the issue of 19,000 shares of $2 stated value common stock for $125,800 cash.

A corporation issues 5,000 shares of common stock for $62,000. The stock has a stated value of $10 per share. The entry to journalize the stock issuance would include a credit to Common Stock for a. $50,000. b. $62,000. c. $5,000. O d. $25,000.

The charter of a corporation provides for the issuance of 113,026 shares of common stock. Assume that 37,231 shares were originally issued and 3,999 were subsequently reacquired. What is the amount of cash dividends to be paid if a $4 per share dividend is declared? Oa. $15,996 Ob. $148,924 Oc. $452,104 Od. $132,928 Previous Next