Common Stock $ 5 Par Value $20,000 Paid-in Capital in exc of par val CS $15,000 A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1$10000 year 2$45000 year 3 $90000 Determine the dividends per share for preferred and common stock for the third year. Question: The Following Data Has Been Collected About Keller Company's Stockholders' Equity Accounts: Common Stock $10 Par Value 15,000 Shares Authorized And 7,500 Shares Issued, 2,500 Shares Outstanding $75,000 Paid-in-capital In Excess Of Par Value, Common Stock 45,000 Retained Earnings 20,000 Treasury Stock 27,250 Assuming The Treasury Shares Were All Purchased On July 1, 2018, Nall Co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $10 par convertible preferred stock for a lump sum of $140,000. At this date Nall's common stock was selling for $24 per share and the convertible preferred stock for $18 per share. Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The DeLong Corporation was organized on January 1, 2017. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 450,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Journalize the transactions.
Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1$10000 year 2$45000 year 3 $90000 Determine the dividends per share for preferred and common stock for the third year.
Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The 1- corporation issues 2,500 shares of common stock for $ 45,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for 2-A corporation issues 2,850 shares of common stock for $91,200. B) A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $44,000. The stock has a $4 per share stated value C) A corporation issued 2,000 shares of $5 par value common stock for $12,000 cash D) A corporation issued 500 shares of $75 par value preferred stock for $81,500 cash.. 10,000 shares issued and outstanding Common stock-$1 O par value, 80,000 shares issued and outstanding Retained earnings Total stockholders' equi~/ $ 250,000 800,000 535,000 $ 1,585,000 Determine the book value per share of the preferred and common stock under two separate situations. 1. No preferred dividends are in arrears. On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $25 per share. 2 A corporation issued 5,000 shares of $30 par value common stock for $180,000 cash. Transaction General Journal Debit Credit 1 Cash 180000 Common stock, $30 par value 150000 Paid-in capital in excess of par value, common stock 30000 3 A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500.
Record The Issue Of 4,000 Shares Of $5 Par Value Common Stock For $35,000 Cash. DATE GENERAL JOURNAL DEBIT CREDIT 1 2. A Corporation Issued
Grossman Corporation issued 1,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. On May 10 a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $12, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $55. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. 1 Quiz 1 _____ (1) On September 5, Bete Gas Corporation acquired 2,500 shares of its own stock $1 par common stock for $23 per share. On October 15, 1,000 shares of the treasury stock is sold for $ 25 per share. Instructions Journalize the purchase and sale of the treasury stock assuming that the company uses the cost method. This amount of stock is called a.treasury stock b.issued stock c.outstanding stock d.authorized stock 4.The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired.
Question: The Following Data Has Been Collected About Keller Company's Stockholders' Equity Accounts: Common Stock $10 Par Value 15,000 Shares Authorized And 7,500 Shares Issued, 2,500 Shares Outstanding $75,000 Paid-in-capital In Excess Of Par Value, Common Stock 45,000 Retained Earnings 20,000 Treasury Stock 27,250 Assuming The Treasury Shares Were All Purchased
2 A corporation issued 5,000 shares of $30 par value common stock for $180,000 cash. Transaction General Journal Debit Credit 1 Cash 180000 Common stock, $30 par value 150000 Paid-in capital in excess of par value, common stock 30000 3 A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500.
A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transaction would be: -Debit Cash $27,500; credit Paid-in Capital in Excess of Par Value, Common Stock $2,500; credit Common Stock $25,000.
2 A corporation issued 5,000 shares of $30 par value common stock for $180,000 cash. Transaction General Journal Debit Credit 1 Cash 180000 Common stock, $30 par value 150000 Paid-in capital in excess of par value, common stock 30000 3 A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. Grossman Corporation issued 1,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. On May 10 a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $12, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $55. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value.