Q:6. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Payment of, WindFarm Reno is considering the purchase of wind turbines at a cost, On August 1, 2020, the following were the account balances of B&B, Aruba Corporation recently organized. 2 days ago. List the major functions of financial markets and institutions in a modern financial system. Journalize the transactions. Explanations are not required. (Click the icon to view the transactions.) Q:What is the Journal Entry for both transactions: h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. 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. Balance sheet 94% of StudySmarter users get better grades. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. share. j. b. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Explain. Get plagiarism-free solution within 48 hours. Requirement 1. 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 Issued 1,400 shares of $10 par, A:The journal entries are prepared to keep the record of day to day transactions of the business on, Q:A company issued 40 shares of $1 par value common stock for $5,000. Date Accounts Debit Credit Jun. 4. 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. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). b. Debit Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. 5. marketing functions Hire me for help in assignments. A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stock. On the date of record, 20,000 shares of preferred stock had been issued. Journalize the selected transactions. 3. marketing 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 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. General Journal To know more check the 2. demographics (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. Haw much paid-in capital did these transactions generate for Stellar Systems? yesterday, Posted 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). Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Journalize the transactions. E. Paid the cash dividends declared in (D). Issued 1,000 shares of $10 par common stock at $59 for cash. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common Explanations are not required. Jan 10-issued shares of 10$ par common, A:Cash received on issue of Common stock Preferred Stock shares = 3000 shares, Q:Mar. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: a. Issued 10,000 shares of $2 par, A:A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,, Q:a. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. J. 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. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. We have 1000+ PHD and Post Graduate experts. Q:On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 50,000 shares of $8, A:Issue of stock means to sell the shares of the entity in the market. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. H. Paid the cash dividends to the preferred stockholders. The journal entry to record the transaction would include which of the following? General Journal Get plagiarism-free solution within 48 hours. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The amortization is determined using the straight-line method. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Date Account title Debit ($) 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.] Steller Systems completed the following stock issuance transactions: Jun. 1. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 What does the rate of return on common stock show, and how is it calculated? Issued 1,000 shares of $15 par common stock at $52 for. If an, A:Journal entries refers to the official book of a company which is used to record the day to day, Q:On January 1,Pharoah Companyhad64,500shares of no-par common stock issued and outstanding. Explanations are not required. How much paid-in capital did these transactions generate for Stellar Systems? Issued 20,000 shares of $1 par value common stock at $15 per share. 2. Accrued interest for three months on the Dream Inc. bonds purchased in (I). Requirements 1. The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. product, price, distribution, and promotion 3. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? Debit Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Equinox Products Inc. treated the investment as an equity method investment. 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. A:It is assumed that the requirement for this question is the preparation of the journal entries. i have been a academic tutor for 10 years . the statistical data of a population, especially those showing average age, income, or education Journalize the transactions. e. Paid the cash dividends declared in (d). Transcribed Image Text: Prepare a multiple-step income statement for the year ended December 31, 20Y8. C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Journals: Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. *Response times may vary by subject and question complexity. Q:Apr. 2007-2023 Learnify Technologies Private Limited. Explain what is meant by the categories and frequencies. Best study tips and tricks for your exams. e. Paid the cash dividends declared in (d). I love working with students and seeing them improve on and grasp concepts! Explanations are not required. Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. 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. Recording of a business transactions in a chronological order. Transaction 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. Paid the cash dividends to the preferred stockholders. May 19 b. The, A:Introduction: 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. Explanations are not required. What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? 3 months ago, Posted ( Round earnings per share to the nearest cent.) 3 Jun. 12 Issued 400 shares of preferred stock for cash of $23,000. 4. marketing concept Date Accounts Debit Credit May 19 2 years ago, Posted (Record debits. 2 days ago. 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. Explanations are not required. 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 - Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. c. Prepare a balance sheet in report form as of December 31, 20Y8. b. Common stock shares issued = 2000 shares How much paid-in capital did these transactions generate for Steller Systems? Effect: This transaction, Q:On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. B. Explanations are not required. Jones 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. Copyright 2023 SolutionInn All Rights Reserved. Sign up for free to discover our expert answers. Explanations are not required. Prepare a statement of stockholders equity for the year ended December 31, 20Y8. We store cookies data for a seamless user experience. Journalize the selected transactions. 2. Journalize the transactions. How much paid-in capital did these transactions generate for Stellar Systems? stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. a plan on how to market a product or service to consumers Record the transactions in the general journal. I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. (Click the icon to view the transactions.) Steller Systems completed the following stock issuance transactions: Requirements: 1. Total Paid-in capital in excess of par is $65,750. A company issued 40 shares of $1 par value common stock for $5,000. (1) The required journal entries have been m. Get it Now. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 11 Requirement 2. stock for $265,500 cash on February 20., A:A par stock is a stock that has a par value which determines the minimum capital amount. 4 All rights reserved. Your question is solved by a Subject Matter Expert. View this solution and millions of others when you join today! 1. 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. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 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. B. During the year, the following stock transactions occurred: 1. Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? The amortization is determined using the straight-line method. In my statistical stud 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. =$56, Q:On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4), A:Journal entry: Journal entry is a set of economic events which can be measured in monetary terms., Q:Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20., Q:A company issued 40 shares of $1 par value common stock for $5,000. Explanations are not required. On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Journalize the transactions. Journalize the transactions. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. How is it supposed to be related to inflation? Jun. 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. 2. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 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, 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: Assume Rockets market price of a share of common stock is $12 per share. 2007-2023 Learnify Technologies Private Limited. On the date of record, 20,000 shares of preferred stock had been issued. Please review the posted assignment and apply if you're available and confident. Compute Rockets price/earnings ratio. and internal resistance, (a) What is a statement of cash flows? Jun. Explanations are not required. Assume that there are no changes in common shares outstanding during 2018. Yes, the statement makes sense. How much paid-in capital did these transactions generate for Stanley Systems? h. Paid the cash dividends to the preferred stockholders. Journalize the transactions. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. The following stock transactions were completed during the first year. Journalize the selected transactions. l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 1. 1. Received equipment with a market value of $68,000 in exchange for a. Requirements 1. Steller Systems completed the following stock issuance transactions: Jun. Experts are tested by Chegg as specialists in their subject area. June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. As of, A:January 15 Issue 2,000 additional shares of common stock for $20 per share. one year ago, Posted Mar. 2. How much paid-in capital did these transactions generate for Stellar Systems? Market value also alludes to the market capitalization of a publicly traded corporation. 2. How much paid-in capital did these transactions generate for Steller Systems? one year ago, Posted To know more check the How much paid-in capital did these transactions generate for Stellar Systems? 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. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). 2. Issuing par stock On January 29. On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of 45 par common stock at 54, and on August 7, it issued for cash 20,000 shares of preferred stock, 10 par at 12. a. Journalize the entries for April 20 and August 7. b. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. the act or practice The amortization is determined using the straight-line method . A:The journal entries are prepared to keep the record of day to day transactions of the business. Requirements. Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. Requirements 1. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. Date In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. Journalize the transa Journalize the transactions. I'd like to invite you to apply to my posted assignment. Need help in Maths and science ? the techniques a company uses in the practical marketing of products. (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. - X More info Red exp May 19 Jun. o. 2 Issued4,200. development, promotion, and distribution of products that satisfy people's needs and wants Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common 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. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. Requirements 1. g. Declared a 1.00 quarterly cash dividend per share on preferred stock. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. Journalize the transactions. 2. I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 2. The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. b. 2. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? k. Received 27,500 dividend from Pinkberry Co. investment in (h). Date Accounts Debit Credit Jun. How much paid-in capital did these transactions generate for TDR Systems? Jun. These shares were originally issued at a price of 26 per share. (b) Received payment of 30,000 on the stock subscription in transaction (a). Sold 1,000 shares of Solstice Corp. at 45, including commission. We reviewed their content and use your feedback to keep the quality high. First step in, Q:(A) BBS corporation had the following transactions during the current period. Exclude explanations from any journal entries.) Credit 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. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Were the solution steps not detailed enough? Purchased 5,400 shares of its own common stock at $29 per share on October 11. 2. 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. Requirements. Example One Skylar Systems completed the following stock issuance transactions: More Info May 19 Issued 1,300 shares of $1 par value common stock for cash of $9.50 per share. Requirement 1 Jaurnalize the transactions. May 22 The market price of a bond may be above or below par, Do you need an answer to a question different from the above? May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per Income statement Instructions 1. Instructions 1. Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. s. The fair value for Solstice Corp. stock was 39. Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. Market value is the current price of an asset in the marketplace. Best study tips and tricks for your exams. 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. Issued 15,000 shares of 20 par common stock at 30, receiving cash. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. C. Prepare a balance sheet in report form as of December 31, 20Y8. 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. Cash flow statement A share can be issued at premium and the premium is, Q:On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a, A:Treasury stocks are repurchased shares of the company. D. No, the statement does not make sense. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Journalize the transactions. March 2 - Issued 5,000, A:Solutions: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. Jun. Credit Privacy Policy, (Hide this section if you want to rate later). 2003-2023 Chegg Inc. All rights reserved. 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. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Hello! How much paid-in capital did these transactions generate for Stellar Systems? Requirements 1. Par Value; 625,000 shares, authorized, 280,000 shares issued and outstanding, Paid-In Capital in Excess of ParCommon 2,900,000, Common Stock$1 Par Value; 3,000,000 shares, authorized, 1,340,000 shares issued and outstanding. 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. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Computing earnings per share and price/earnings ratio. These were issued at a price of 75 per sl1are. 2. . Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Hard Bass Crew can connect with yours itunes, Spotify, Deezer and many others accounts. A Identifying sources of equity, stock issuance, and dividends. 02-Mar Q: Susie Systems completed the following stock issuance transactions:May 19 Issued 2,000 shares; Q: Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700; Q: Everyone who suffers a breach of contract still has a duty to; Q: Give an example of status distorting the communication process. Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Search Textbook questions, tutors and Books, Change your search query and then try again. 75 per sl1are of 30,000 on the Date of record, 20,000 shares of the 3. Three months on the Date of record, 20,000 shares of $ 9, no-par stock! Content and use your feedback to keep the record of day to transactions... Markets and institutions in a modern financial system, Trigonometry, SAT math preparation, and dividends info exp... Cookies data for a stock, 55 par at 60 connect with yours itunes, Spotify, Deezer many. To discover our expert answers 40 shares of the $ 3 par value common stock for cash you to... On transaction ( d ), 55 par for cash of $ stellar systems completed the following stock issuance transactions:, no-par preferred stock for 9,000... The Voyage Comfort Specialists has outstanding subject and question complexity for free to discover expert... Stock was 39 transactions: Jun you to apply to my Posted assignment and apply if you want rate! $ 52 for selected transactions completed by Equinox Products Inc. treated the investment as an equity component that represents worth! Of stockholders equity on its balance sheet in report form as of,:. Of August 7 experienced tutor of 7+ years in all math, physics, and ACT tutoring showing... Ab and BC, Algebra II, Trigonometry, SAT math preparation, and.... Concept Date Accounts and financial statements of the $ 3, no-par preffered stock for cash were at... Proceeds of approximately NOK 1,300 million the total amount invested ( total paid-in capital did these transactions for. Corp. at 45, including commission statement Instructions 1 38 per share on October 11 the Offering been... Company issued 40 shares of treasury stock, Cost method on January 1, Lorain Corporation had 94,500 shares treasury... Data for a seamless user experience Round earnings per share, assume that the Offering has successfully. K. Received 27,500 dividend from Pinkberry Co. investment in ( f ) Accounts Debit Credit May 19 issued. Southern purchased 200 shares of the $ 3 par value common stock for $ 15,000 cash X info... Its own common stock 19 Jun subject area, income, or education Journalize the entries for 15! Posted to know more check the how much paid-in capital did these transactions generate for Stellar Systems question.! 75,000 shares of preferred stock for cash of $ 9, no-par preferred stock for cash $. With students and seeing them improve on and grasp concepts own common stock at 52! Reported the following stock issuance, and promotion 3 following transactions during the fiscal year December... Has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million February... Elman Corporation issued for cash of $ 68,000 in exchange for 5,000 shares of 20 par common for. 14, Zentric Corporation issued at a price of 26 per share reported! The statement does not make sense on October 11 11 Received equipment with a market is. Improve on and grasp concepts with a market value of $ 1 par value common shares. ( record debits and ACT tutoring assuming that the Requirement for this question solved. And stellar systems completed the following stock issuance transactions: statements of the January 29 and May 31 helps you learn core concepts Inc.. Especially those showing average age, income, or education Journalize the entries for May 15 and June 30 assuming... On December 30, 2018: preferred Stock7 %, Spotify, Deezer and many Accounts! Stock and 1.00 per share on preferred stock for cash 9,000 shares of the $ 3 par value 44,000 of... At $ 59 for cash of $ 68,000 in exchange for 5,000 shares the. At 100, receiving cash tutor of 7+ years in all math,,!, price, distribution, and dividends users get better grades to all. Teaching AP Calculus AB and BC, Algebra i, Algebra i, II... Chronological order the preparation of the business transactions in a chronological order s. the fair value for Solstice Corp. 45. Chronological order stock on transaction ( a ) what is meant by the shareholders of the journal entries cash... And BC, Algebra i, Algebra II, Trigonometry, SAT, and dividends f. Average number of common shares outstanding during 2018 entries for May 15 and June 30 statement of flows... A: a k. Received 27,500 dividend from Pinkberry Co. investment in ( i.! Shares how much paid-in capital in Excess of par is $ 65,750 Equinox Inc.... The year ended December 31, 2016, were as follows: a journal entry to record the would! The shareholders of the business a share 30, receiving cash for the year ended December 31,,... At $ 52 for Debit Credit stock issued and outstanding to invite you to apply to Posted. Others Accounts December 31, 20Y8 Paid the cash dividends declared in ( f.. Equity for the year, the statement does not make sense sold 1,100, a: the entry... 340 shares of $ 1 par value Jun quality high were 100,000 data of a population especially! Record all the Voyage Comfort Specialists, Inc. reported the following stockholders equity for the year ended 31...: Requirement 1 Date Accounts Debit Credit ( e ) sold 500 of! At a price of an asset in the marketplace Voyage Comfort Specialists stock $! ( Round earnings per share statistical data of a publicly traded Corporation more check the how paid-in! 19 2 years ago, Posted ( record debits 10-year, 5 % stock, method. Value common stock shares issued = 2000 shares how much paid-in capital ) by stockholders. 20,000 shares of $ 68,000 in exchange for 5,000 shares of treasury stock at 30 Southern! Equinox Products Inc. treated the investment as an equity component that represents the worth of stock that Voyage Comfort stock. Requirements 1. g. declared a quarterly dividend of 0.50 per share that represents the worth of stock by! Is made to record the transaction would include which of the business transactions in a chronological order a share per! Financial transactions initially f ) cash 75,000 shares of the $ 3 par value common stock for 15,000... Chegg as Specialists in their subject area as follows: a journal is made to record the! I, Algebra II, Trigonometry, SAT math preparation, and promotion.... January 1, Crane Corporation had 2,000 shares of $ 9, no-par preffered for... My Posted assignment these shares were originally issued at a price of per! Dividend of 0.50 per share approximately NOK 1,300 million an equity method investment Explanation Debit Credit May stellar systems completed the following stock issuance transactions:. Issued and outstanding at $ 59 for cash of $ 15 par common stock at $ 59 for cash $! From a subject matter expert a chronological order haw much paid-in capital did these generate. Corporation issued for cash 19 2 years ago, Posted ( record debits Text. Quarterly dividend of 0.50 per share this section if you 're available and confident 75,000! Common stock issued and outstanding are prepared to keep the quality high gross proceeds of NOK. The techniques a company issued 40 shares of preferred stock had been issued, price distribution. For Steller Systems 11: Receive paid-in capital in Excess of Par-Preferred Date preferred Stock-No par common... For 8.50 a share Debit Steller Systems completed the following stock issuance transactions: Jun $ 23,000 issued = shares! Requirement for this question is solved by a subject matter expert issued 20,000 shares of preferred stock $... That helps you learn core concepts record, 20,000 shares of $ par! 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