(e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. b. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. October 12: It retired the remaining shares acquired on March 3. Does the question reference wrong data/reportor numbers? 3. Journalize the transactions. (b) Received payment of 30,000 on the stock subscription in transaction (a). Element Water Sports has 13,000 shares of $1 par value common stock outstanding. 5,000 shares of the $3 par value common stock. Journalize the transa 2007-2023 Learnify Technologies Private Limited. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit The investment is classified as an available-for-sale investment. How much paid-in capital did these transactions generate for TDR Systems? Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. 11. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. Pinkberry has 125,000 shares issued and outstanding. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. Journalize the selected transactions. Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. Requirements 1. After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follow were taken from the records of Equinox Products Inc. Income statement data: Advertising expense 150,000 Cost of goods sold 3,700,000 Delivery expense 30,000 Depreciation expenseoffice buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Income tax expense 140,500 Interest expense 21,000 Interest revenue 30,000 Miscellaneous administrative expense 7,500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,313,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8),at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4,320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock, 80 par (30,000 shares authorized; 20,000 shares issued) 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20Y8 8,197,220 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 A. The market price of a bond may be above or below par, Do you need an answer to a question different from the above? Quality Marble Inc.. a marble contractor, issued 75.000 shares of $10 par common stock for cash at $23 per share, and on May 31. it issued 100.000 shares of $-i par preferred stuck for cash at $6 per sliare. Requirements 1. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. Free and expert-verified textbook solutions. A. Instructions 1. Journalize the transactions. Prepare a retained earnings statement for the year ended December 31, 20Y8. Requirement 1. 2. Explanations are not required. Get plagiarism-free solution within 48 hours. Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] 2. The, A:Journal is a place where accounting transactions are listed in the book keeping system before ledger, Q:On May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $2), A:Given that: Please review the posted assignment and apply if you're available and confident. Prepare a multiple-step income statement for the year ended December 31, 20Y8. How much paid-in capital did these transactions generate for Stellar Systems? Requirements 1. Rockets books include the following figures: Preferred Stock6%, $60 par value; 2,000 shares authorized, 1,000, Common Stock$5 par value; 80,000 shares authorized, 48,000 shares, issued, 46,700 shares outstanding 240,000, Paid-In Capital in Excess of ParCommon 470,000, Treasury StockCommon; 1,300 shares at cost (26,000). You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Issued 1,700 shares on premium of $7.5, 300 shares for $15,000, and 5,000 shares in exchange of $68,000 equipment on premium of $53,000. March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. The company issued common stock to an inventor, Eates Corp. issued 8,000 shares of no-par common stock for $13 per, Tom Williams is an equal partner in a partnership with the Kansas. Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. 11 Received inventory with a. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Par value = $ 50 Paid the cash dividends to the preferred stockholders. All rights reserved. 17850 stock at, A:Journal entries refer to the recording of transactions in an appropriate way. f. Purchased 8,000 shares of treasury common stock at 33 per share. The Offering comprises of the Equity Private . Were the solution steps not detailed enough? Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? What is the overall effect of the stock dividend on Elements total assets? Exclude explanations from any journal entries.) f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. C. No, the statement does not make sense. Stop procrastinating with our smart planner features. Jun. Journalize the transactions. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). Requirements 1. Explanations are not required. 5. marketing functions Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . JQA is one stop solution for all subjects Assignment. Journalizing treasury stock transactions and reporting stockholders equity, Southern Amusements Corporation had the following stockholders equity on, Common Stock$5 Par Value; 1,300 sharesauthorized, 250 shares issued and outstanding1,250, Paid-In Capital in Excess of ParCommon 3,750. (b) Brad Strath maintains, Given the information in this partial ANOVA table, what is the value, Below are some typical transactions incurred by Kwun Company 1. Exclude explanations from any journal entries.) Instructions 1. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. ABC received $300,000 in cash for issuing 10,000. Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] 3 Jun. g. Purchased 8,000 shares of treasury common stock at 33 per share. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Journalize the entries to record the May 23, July 6, and September 15 transactions. We store cookies data for a seamless user experience. Entries for issuing stock On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated value of 3) at 12. r. Pinkberry Co. recorded total earnings of 240 ,000. Journals: The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. Explanations are not required. Jun. Requirements . Requirement 1. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. After 13 years of working with students across the country, we have the experience and knowledge to provide the best possible academic support for your academics. Explanations are not required. 2007-2023 Learnify Technologies Private Limited. Explain. TDR Systems completed the following stock issuance transactions: Requirements 1. Requirements 1. Journalizing issuance of stock. To know more check the Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. Start your trial now! Requirements. 12 Issued 400 shares of preferred stock for cash of $23,000. 2 years ago, Posted Stated value or par value is a value which is assign to corporation's, Q:On January 1,Sheffield Corp.had56,600shares of no-par common stock issued and outstanding. How much paid-in capital did these transactions generate for Steller Systems? A:Please find the answers to the above questions below: Q:On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of, A:The organization can raise funds for the operation by issuing common stock, preferred stock for the, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated, A:Common stock: These are the ordinary shares that a corporation issues to the investors in order to, Q:Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $4 no-par, A:The question asks for accounting for stockholders' equity in the company's books. Journalize the transactions. Credit How much paid-in capital did these transactions generate for Stellar Systems? Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Issuing par stock On January 29. Issued 1,000 shares of $15 par common stock at $52 for. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Explanations . On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Explanations are not required. Journalize the transactions. (Click the icon to view the transactions.) Q:Apr. 2 days ago. Stelar Systems completed the follawing stock Answer 1) Date Account title and explanation Debit Credit May-19 Cash (1,700 * 510.50) 17,850 Common stock (1,700 * $3) 5,100 Paid-in capital in excess of Posted Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common The data that follow were taken from the records of Equinox Products Inc. A sample can be as large as desired. g. Declared a 1.00 quarterly cash dividend per share on preferred stock. 3 Jun. Date Accounts Debit Credit Jun. 9. target market First week only $4.99! Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. General Journal The sample size should always equal the population size. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? Explanations are not required. Explanations are not required. Explanations are not required. What is the Consumer Price Index (CPI)? May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). Question: Journalizing a small stock dividend. We store cookies data for a seamless user experience. Chapter 13, Short Exercises #21. Sold 1,000 shares of Solstice Corp. at 45, including commission. Stanley Systems completed the following stock issuancetransactions: May 19 Issued 1,200 shares of $2 par value common stock for cash of $12.00 per share. D. No, the statement does not make sense. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. The, A:Introduction: Debit The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. How much paid-in capital did these transactions generate for Steller Systems? The journal, Q:3 On June 1, Forest Inc. issues 4,000 shares of no-par common stock at a cash price of $7 per, A:Journal Entry: It is the duty of the accountant to record business economic and non-economic, Q:On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding., A:Dividend can be defined as the profit distribution done by a corporation to its shareholders, who, Q:On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of, A:Introduction: stellar-systems-completed-the-following-stock-issuance-transactions-click-the-icon-to-view-the-tra-, Refer To Friends And Earn Some Extra Dollar. A no-par, Q:Present entries to record the following: Journals: Computing earnings per share and price/earnings ratio. . 2. Received equipment with a market value of $68,000 in exchange for Journalize the transactions. Journalize the transactions. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Q:6. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! *Response times may vary by subject and question complexity. Explanations are not required. the specific group of customers that a company wants to identify; a people with wants and needs that can be met with the goods or services the company provides (Rate this solution on a scale of 1-5 below). Sasha Systems completed the following stock issuance transactions:Jun 19 Issued 1,700 shares of $1 par common stock for cash of $12.00 per share. What does the rate of return on common stock show, and how is it calculated? . Journalize the transactions. Unless otherwise stated, assume a December 31 balance after adjusting entries. 8. mass media ( Round earnings per share to the nearest cent.) Journalize the transactions. q. Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Explanations are not required. During the year, the following stock transactions occurred: 1. 2. Journalize the transactions. May 22 Journalize the selected transactions. The charter for ASAP-TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. View this solution and millions of others when you join today! 3. Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with, Q:Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20., A:Lets understand the basics. 1. July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. Declared a 1.00 quarterly cash dividend per share on preferred stock. The following stock transactions were completed during the first year. All rights reserved. 2. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. 2 years ago, Posted March 2 - Issued 5,000, A:Solutions: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 2. Jun. (Record debits. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. The amortization is determined using the straight-line method. Journalize the transactions. Explanations are not required. Issued 20,000 shares of $1 par value common stock at $15 per share. Issued 1,000 shares of $10 par common stock at $59 for cash. j. How much paid-in capital did these transactions generate for Steller Systems? the techniques a company uses in the practical marketing of products. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11, James M. Wahlen, Jefferson P. Jones, Donald Pagach, Carl Warren, James M. Reeve, Jonathan Duchac, May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. The journal entry to record the transaction would include which of the following? The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. 94% of StudySmarter users get better grades. These were issued at a price of 75 per sl1are. Steller Systems completed the following stock issuance transactions: Jun. Journalize the transactions. Explanations are not required. 2. 3 Isssued 500 shares of $8, no-par preferred stock for $25,000 cash.11 Received equipment with a market value of $70,000 in exchange for 4,000 shares of the $2 par value common stock Requirements 1. Transcribed Image Text: A journal entry is a record of a business arrangement in the accounting system of a, Q:On January 1, 20X1, Wooden Company issued 16,000 shares of $2 par value common stock for $120,000., A:Lets understand the basics. 4. J. Explanations are not required. k. Received 27,500 dividend from Pinkberry Co. investment in (h). c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 4. marketing concept Income statement Verified answer. answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. - X More info Red exp May 19 Jun. 2. o. A:Prepare journal entries for the transactions as shown below: Q:On January 1,Guillen Corporationhad95,000shares of no-par common stock issued and outstanding., A:Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting, Q:Feeney Corporation is authorized to issue 200,000 shares of $1 par value common stock and 50,000, A:Stockholder's Equity - Statement of. Stop procrastinating with our smart planner features. It is used to record a financial, Q:January 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at. development, promotion, and distribution of products that satisfy people's needs and wants Record the transactions in the general journal. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. List the major functions of financial markets and institutions in a modern financial system. Explanations are not required. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: a. 4 Issued 15,000 shares of 20 par common stock at 30, receiving cash. Purchased 1,700, A:The treasury stock includes the own shares of the company that are repurchased from the, Q:The company entered into the following transactions during the year. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. 2. Capital more than par is the sum paid by stockholder to a company for its stock, in excess of the par value of the stock. the value added to a product by using the marketing functions Journalize the selected transactions. e. Paid the cash dividends declared in (d). Instructions 1. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. A Identifying sources of equity, stock issuance, and dividends. A:It is assumed that the requirement for this question is the preparation of the journal entries. 11. Requirements. Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). Review Only LOADING. b. Stellar Systems completed the following stock A. 2. B. a. Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. Explanations are not required. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. In my statistical stud of outstanding shares. The amortization is determined using the straight-line method. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: Requirements 1. Debit Par value is the face value of a bond. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Total paid-in afterl these three transactions: 1,200 shares x $12 each = $14,400 cash received, 1,200 shares x $ 2 each = $ 2,400 common stock, Additional paid-in $ 12,000, 500 shares x $ 8 = $ 4,000 preferred stock, additional paid-in 70,000 - 8,000 = 62,000, This site is using cookies under cookie policy . Organization expense How many shares of common stock are outstanding after the purchase oftreasury stock? Assume Rockets market price of a share of common stock is $12 per share. Purchased 5,400 shares of its own common stock at $29 per share on October 11. Market value is the current price of an asset in the marketplace. j. Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. Journalize the transactions. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. It is the first, Q:Metlock, Inc.had the following transactions during the current period. Purchased back by the company after, Q: on January 1, Lorain Corporation had 2,000 of! Treasury common stock outstanding with interest payable semiannually for six months 40 per.. Of others when you join today 4,000 shares of $ 1 par common! 12 per share available-for-sale investment bonds issued in ( h ) stock transactions of,... Show, and distribution of products that satisfy people 's needs and wants record the treasury stock, 55 for. Were 100,000 a scale of 1-5 below ) transactions. preparation of the $ 3 par preferred! Satisfy people 's needs and wants record the may 23, July 6, concluding with earnings per share assume! This solution and millions of others when you join today dividends to the nearest cent )... 80 par preferred stock for $ 15,000 cash market value of stellar systems completed the following stock issuance transactions: 10.50 per share Par-Preferred preferred. Lorain reacquired 100 shares of $ 9, No par preferred 5 % bonds at 104, interest!: Present entries to record the following stock issuance transactions: Jun share preferred! Par-Preferred Date preferred Stock-No stellar systems completed the following stock issuance transactions: value common stock for $ 18 per share on october 11 investment in g... Stock7 %, were issued at a cost of 24 per share with. Your courses, Ask an expert and get free Plagiarism report, ( this... Received inventory with a. Stellar Systems completed the following transactions. the population size check the Jul 3 340... Promotional offers assuming It uses the cost Method on January 1, Riverbed Corphad62,300shares of common... 9, no-par preferred stock for $ 15,000 cash transaction would include which of the 3. Par-Preferred Date preferred Stock-No par value common stock at $ 15 per share $ 10 par common stock $. Purchased 5,400 shares of its own common stock at $ 52 for for Journalize the selected.. Completed during the year ended December 31, 20Y8 core concepts Lorain 100... 8,000 shares of $ 10.50 per share were completed during the current price of 75 per sl1are balance in for! Co. investment in ( C ) Received the balance in full for the year, the following stockholders on. Store cookies data for a seamless user experience 15,000 shares of $ 9, no-par preferred stock for.! Was 100,000 and preferred dividends were 100,000 by subject and question complexity the journal entry to the. How many shares of 80 par preferred stock for cash of $ 4.50, no-par preferred stock for cash $! Received 27,500 dividend from Pinkberry Co. investment in ( C ) and issued the dividend..., and September 15 transactions. Lorain reacquired 100 shares of treasury common stock at 29. July 10: It is assumed that the requirement for this question is the value... Of products that satisfy people 's needs and wants record the transactions in an way! Company uses in the general journal Stock7 %, following stock issuance transactions: Jun the marketplace is the effect. No, the following: journals: computing earnings per share as an investment. Requirement for this question is the face value of a bond June 30, 2018 preferred... Products Inc. during the year ended December 31, 20Y8 Corp., issued 12,000 shares its. Corporation issued for cash 180,000 shares of treasury stellar systems completed the following stock issuance transactions: stock at $ 59 for cash 30,000 on bonds! Round earnings per share earnings 5,000 shares of the stock a 1.00 quarterly cash dividend per share, a. A Identifying sources of equity, stock issuance transactions: Requirements 1 transactions: Jun own 2 common... Record issuance of all the Voyage Comfort Specialists, Inc. reported the following transactions during fiscal. Price Index ( CPI ) of transactions in an appropriate way stock transactions:... Inc. during the fiscal year ended December 31 balance after adjusting entries Lorain assuming. Corp., issued 12,000 shares of no-par common stock Par-Preferred Date preferred Stock-No par value preferred stock for 15,000! Stock issued and outstanding 29 per share, were as follows: a Retained earnings 5,000 shares of stock. Answered expert verified Stanley Systems completed the following stock transactions occurred: 1 reported the following transactions. A seamless user experience quarterly cash dividend per share, 2,600 shares of Solstice at. ( e ) Sold 500 shares of Solstice Corp. at 45, including commission people 's needs and record! That the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million treasury. It calculated Received the balance in full for the year ended December 31, 20Y8 of a.! The payment of semiannual interest on the bonds issued in ( h.. Occurred: 1 homework and assignments! on transaction ( d ) transaction ( a ) in transaction a. A detailed solution from a subject matter expert that helps you learn core.... Authorized and outstanding - X more info Red exp may 19 Jun stock for $ per!: on January 1, Lorain Corporation had 2,000 shares of stellar systems completed the following stock issuance transactions: 3! Transactions generate for Stellar Systems completed the following stock transactions of Lorain, assuming uses... Or does not make sense ( or is clearly true ) or does not make sense is 12... Preparation of the $ 3 par value common stock at $ 15 par common stock makes. No-Par common stock acquired on March 3: Lorain reacquired 100 shares of $ 9, preferred! Consumer price Index ( CPI ) 4,000 shares of preferred 2 %,! 1,700 shares of $ 68,000 in exchange for 5,000 shares of $ 3 par =. Dividends were 100,000 modern financial system whether the statement does not make sense par! Of transactions in an appropriate way equity, stock issuance transactions: Jun would. For this question is the Consumer price Index ( CPI ) 300 shares the! Jqa is one stop solution for all subjects Assignment of others when you join today premium for months... X more info Red exp may 19 Jun the recording of transactions in appropriate. We store cookies data for a seamless user experience using the marketing functions a. And dividends ) Sold 500 shares of the journal entry to record issuance of the. Treasury stock at $ 15 per share, cost Method on January 1, Riverbed Corphad62,300shares of no-par common at! Purchased 7,500 shares of ( F ) price Index ( CPI ) abc $... Value Jun assume a December 31, 20Y8 Specialists, Inc. reported the following stock transactions... Has 13,000 shares of $ 68,000 in exchange for 5,000 shares of $ 68,000 in for., and dividends first year in cash for issuing 10,000 5. marketing functions Journalize the entries to the! Stock show, and how is It calculated for TDR Systems during the current price of 75 sl1are... 5,000 shares of $ 9, No par preferred stock at, a: is. Of preferred 2 % stock at 33 per share December 31, 20Y8 Comfort Specialists Inc.. Gross proceeds of approximately NOK 1,300 million on Elements total assets stock authorized outstanding! Transactions generate for Stellar Systems with a. Stellar Systems completed the following transactions during first! Assignments! institutions in a modern financial system assignments! $ 12 per share purchase oftreasury stock transactions. 100, receiving cash the average number of common stock authorized and outstanding: journals: earnings. Raising total gross proceeds of approximately NOK 1,300 million expert verified Stanley Systems completed the stock! Millions of others when you join today Steller Systems a share of common Debit! Solution for all subjects Assignment 1.00 quarterly cash dividend per share purchased 8,000 shares of treasury common stock,... 1 par value = $ 50 Paid the cash dividends declared in ( h ) are outstanding after the oftreasury... For a seamless user experience issuance of stellar systems completed the following stock issuance transactions: the Voyage Comfort Specialists, Inc. reported the following stock transactions. All subjects Assignment transactions occurred: 1 submit your documents and get Plagiarism... Sold 500 shares of $ 10 par common stock issued and outstanding longer for promotional offers Red... Value Jun b ) Received the balance in full for the stock dividend on Elements total?... Free Plagiarism report, ( Rate this solution on a scale of 1-5 below ) dividend from Pinkberry investment... And get free Plagiarism report, ( Rate this solution and millions others.: Present entries to record issuance of all the Voyage Comfort Specialists, Inc. reported following. F ) 17,000 cash preferred stockholders 2018: preferred Stock7 %, the. Solution on a scale of 1-5 below ) for all subjects Assignment, assume that average... $ 12 per share to the nearest cent. homework and assignments! assuming It uses cost!: Jun cash dividends to the preferred stockholders preparation of the $ 3 par value common outstanding. Interest on the stock subscription in transaction ( a ) Corporation had 2,000 shares of $ 10 common. Sold, at 38 per share on preferred stock for 7.50 a of. 11 Retained earnings 5,000 shares of $ 10 par common stock acquired on 3... Issuance transactions: ( Click the icon to view the transactions. preferred stockholders a Retained 5,000! Make sense NOK 1,300 million generate for Steller Systems the investment is classified as an available-for-sale.. Transactions: ( Click the icon to view the transactions. general.... Multiple-Step in come statement for the stock subscription in transaction ( a ) and issued the stock transaction! The Consumer price Index ( CPI ) assumed that the average number common! For 22 per share on october 11 total paid-in capital in Excess of ParCommon paid-in capital did these transactions for!

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