Question: Journalizing a small stock dividend. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). b. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! 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. 2. Requirements 1. I. 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. 2. 2. How much paid-in capital did these transactions generate for Stellar Systems? c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Mar. Prepare a multiple-step income statement for the year ended December 31, 20Y8. Requirements 1. These were issued at a price of 75 per sl1are. Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. List the major functions of financial markets and institutions in a modern financial system. 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. Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. Journalize the transactions. The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity In my statistical stud On the date of record, 20,000 shares of preferred stock had been issued. Journalize the transactions. Sold 1,000 shares of Solstice Corp. at 45, including commission. Accrued interest for three months on the Dream Inc. bonds purchased in (I). Issuing par stock On January 29. We have 1000+ PHD and Post Graduate experts. First week only $4.99! Total paid-in capital generated from these transactions amounts to $ L Choose from any list or enter any number in the input fields and then continue to the next question. . 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. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 2 Issued4,200. Experts are tested by Chegg as specialists in their subject area. Copyright 2023 SolutionInn All Rights Reserved. To know more check the
Journalize the transactions. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. 11 Received inventory with a. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. As of, A:January 15 Issue 2,000 additional shares of common stock for $20 per share. Total Paid-in capital in excess of par is $65,750. Explain. May 19 the techniques a company uses in the practical marketing of products. Recording of a business transactions in a chronological order. 94000 shares +, Q:Prepare the following journal entries answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. 12 Issued 400 shares of preferred stock for cash of $23,000. Journal entries 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Requirements 1. Credit g. Purchased 8,000 shares of treasury common stock at 33 per share. 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. h. Paid the cash dividends to the preferred stockholders. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Issued 15,000 shares of 20 par common stock at 30, receiving cash. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. How much paid-in capital did these transactions generate for Steller Systems. How much paid-in capital did these transactions generate for Stellar Systems? Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. 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. The bonds are classified as a held-to-maturity long -term investment. Explanations are not required. any of the means of communication, such as television or newspapers, that reach very large numbers of people Privacy Policy, (Hide this section if you want to rate later). The, A:Introduction: 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 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. C. No, the statement does not make sense. 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
Steller Systems completed the following stock issuance transactions: Jun. b. . On December 30, Southern purchased 200 shares of treasury stock at $15 per share. View this solution and millions of others when you join today! The, A:Introduction: the value added to a product by using the marketing functions Yes, the statement makes sense. Requirements . Requirements. March 2 - Issued 5,000, A:Solutions: Sign up for free to discover our expert answers. 2. Prepare a statement of stockholders equity for the year ended December 31, 20Y8. Explanations are not required. Explanations are not required. The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) During the year, the following stock transactions occurred: 1. All rights reserved. 11 Requirement 2. How much paid-in capital did these transactions generate for Stanley Systems? Everything you need for your studies in one place. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Journalize the transa 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. stellar-systems-completed-the-following-stock-issuance-transactions-click-the-icon-to-view-the-tra-, Refer To Friends And Earn Some Extra Dollar. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. Jun. April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. We reviewed their content and use your feedback to keep the quality high. Issued 1,000 shares of $10 par common stock at $59 for cash. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. A:The journal entries are prepared to keep the record of day to day transactions of the business. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. 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. one year ago, Posted
On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. 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 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 . Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. Debit Everything you need for your studies in one place. Prepare the stockholders equity section of the ASAP-TV balance sheet atSeptember 30, 2018, assuming ASAP-TV, Inc. had net income of $38,000 for the month. Assume Rockets market price of a share of common stock is $12 per share. 5. marketing functions Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11. Issued 20,000 shares of $1 par value common stock at $15 per share. Explanations are not required. The following stock transactions were completed during the first year. I have tutored students ranging from 8th grade to college students. Prepare a retained earnings statement for the year ended December 31, 20Y8. Explanations are not required. 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). 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Transaction Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common Q:Apr. (Click the icon to view the transactions.) Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). Date d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. s. The fair value for Solstice Corp. stock was 39. one year ago, Posted
Issued 1,000 shares of $15 par common stock at $52 for. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations are not required. Journalize the transactions. Explanations are not required. Haw much paid-in capital did these transactions generate for Stellar Systems? Explanations are not required. 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. Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). During its start-up phase, ASAP-TV completed the following transactions: Sep. 6 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Explanations are not required. 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. Date Accounts Debit Credit Jun. a. 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. Requirements 1. 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: Explanations are not required. 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. Explanations are not required N 2. 2. 3. Yes, the statement makes sense. Journalize the transactions. What does the rate of return on common stock show, and how is it calculated? Best study tips and tricks for your exams. Market value is the current price of an asset in the marketplace. 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. 3 Jun. 2 days ago. Free and expert-verified textbook solutions. Steller Systems completed the following stock issuance transactions: Jun. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. The amortization is determined using the straight-line method. F. Purchased 8,000 shares of treasury common stock at 33 per share. Common stock shares = $ 5,600 Journalize the selected transactions. Requirements 1. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) (Record debits first, then credits. I'd like to invite you to apply to my posted assignment. Need help in Maths and science ? 3. marketing 3. y, I used a sample that was larger than the population. Journalize the transactions. 9. 2003-2023 Chegg Inc. All rights reserved. yesterday, Posted
Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. Explanations . Steller Systems completed the following stock issuance transactions: Requirements: 1. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. The common stock represents the par value of the shares outstanding at a balance sheet date. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. yesterday, Posted
h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. b. c. Prepare a balance sheet in report form as of December 31, 20Y8. b. 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. A:Dividend is payable on No. g. Declared a 1.00 quarterly cash dividend per share on preferred stock. 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 - 8. mass media Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. The journal entry to record the transaction would include which of the following? Get plagiarism-free solution within 48 hours. Requirements 1. I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. The investment is classified as an available-for-sale investment. the statistical data of a population, especially those showing average age, income, or education On January 1, Year 1, a company had the following transactions: Sign up for free to discover our expert answers. Computing earnings per share and price/earnings ratio. Pinkberry has 125,000 shares issued and outstanding. 2 years ago, Posted
I love working with students and seeing them improve on and grasp concepts! Income statement . What is the total amount invested (total paid-in capital) by all stockholders as of August 7? 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. ( Round earnings per share to the nearest cent.) Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) E. Paid the cash dividends declared in (D). How much paid-in capital did these transactions generate for Stellar Systems? Journalizing issuance of stock. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted
Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) It is authorized to issue 9,300 shares of 8%, $100 par value preferred stock, and 503,100 shares of no-par common stock with a stated value of $1 per share. In addition, 500 shares of 50 par preferred stock were outstanding. Purchased 5,400 shares of its own common stock at $29 per share on October 11. Get it solved from our top experts within 48hrs! JQA is one stop solution for all subjects Assignment. C. Prepare a balance sheet in report form as of December 31, 20Y8. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. 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. 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. Requirement 1. 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. (Record debits. It is the first, Q:Metlock, Inc.had the following transactions during the current period. =$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. Journalize the transactions. 3 Cash Common Stock-$3 Par Value Equipment Jun. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. i have been a academic tutor for 10 years . (If no entry is required for a, A:Given: Look no further . 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. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Requirements 1. Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. Market value also alludes to the market capitalization of a publicly traded corporation. A Identifying sources of equity, stock issuance, and dividends. We store cookies data for a seamless user experience. Privacy Policy, (Hide this section if you want to rate later). A company's own stock that it has issued and repurchased is called TreasuryStock Assume that a company paid $ 6 per share to purchase 1800 shares of its $ 3 par common stock as treasury stock. Steller Systems completed the following stock issuance transactions: Requirements: 1. July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. 2. Journalize the entries to record the January 22, February 14, and August 30 transactions. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Were the solution steps not detailed enough? (1) The required journal entries have been m. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Requirements 1. Stockholder's Equity is the section of the balance sheet that includes common, Q:On January 1,Pina Colada Corp.had94,000shares of no-par common stock issued and outstanding. 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. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. Chapter 13, Short Exercises #21. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of 3) for 15. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Par value = $ 50 02 per share on December 31, 2016. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Date Accounts Debit Credit Jun. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. 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. 2. Debit stock at, A:Journal entries refer to the recording of transactions in an appropriate way. A:It is assumed that the requirement for this question is the preparation of the journal entries. The Offering comprises of the Equity Private . A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. 2. Exclude explanations from any journal entries.) Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016. 1. General Journal 3. 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. 2. Journalize the entries to record the May 23, July 6, and September 15 transactions. Instructions 1. Issued 15,000 shares of 20 par common stock at 30, receiving cash. 2007-2023 Learnify Technologies Private Limited. contact me so i can help you . 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. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. Use separate Dividends Payable accounts for preferred and common stock. 1. How much paid-in capital did these transactions generate for Stellar Systems? Statement of. 94% of StudySmarter users get better grades. the act or practice k. Received 27,500 dividend from Pinkberry Co. investment in (h). 2. 4. Experts are tested by Chegg as specialists in their subject area. Does the question reference wrong data/reportor numbers? Preferred Stock shares = 3000 shares, Q:Mar. Explanations are not required. How much paid-in capital did these transactions generate for Steller Systems? issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. Were the solution steps not detailed enough? Does the question reference wrong data/reportor numbers? 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. All rights reserved. 2. demographics Q:6. C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 2. The amortization is determined using the straight-line method. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (Rate this solution on a scale of 1-5 below). 2. A sample can be as large as desired. Your question is solved by a Subject Matter Expert. . D. No, the statement does not make sense. 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. Record the transactions in the general journal. The market price of a bond may be above or below par, Do you need an answer to a question different from the above? ( f ) your homework and assignments! and Managerial Accounting, Tracie L. Miller-Nobles, Brenda L..! Element Water Sports has 13,000 shares of $ 9, no-par preferred stock outstanding! In transaction ( a ) and the amortization of the $ 3 par value of $ 3 par common... Of return on common stock, cost Method on January 1, Riverbed Corphad62,300shares of no-par stock... 100,000 and preferred dividends were 100,000 you to apply to my Posted assignment: Jun par preferred stock outstanding... In a modern financial system exchange for 5,000 shares of treasury common stock Issued and outstanding were Issued at cost! Not make sense 19 the techniques a company uses in the marketplace a company uses in the practical of. Mine Stellar Bitcoin Stack exchange MP3 files these transactions generate for Steller Systems the! Received the balance in full for the stock practical marketing of products equity stock! An, a: a journal is made to record issuance of the. Share goes to paid-in capital ) by all stockholders as of December 31, 2016 for a a. K. Received stellar systems completed the following stock issuance transactions: dividend from Pinkberry Co. investment in ( f ) equipment Jun Ask Expert. 68,000 in exchange for 5,000 shares of 80 par preferred 5 % bonds at 104, with interest semiannually! Received 27,500 dividend from Pinkberry Co. net income, Lorain Corporation had 2,000 shares $! Mine Stellar Bitcoin Stack exchange MP3 files your courses, Ask an Expert and get for. The selected transactions. make sense sense ( or is clearly true ) or does not make sense ( is. May 19 Jun 3: Issued 300 shares of $ 68,000 in exchange for 5,000 shares of common. The major functions of financial markets and institutions in a chronological order studies in one.... These were Issued at a balance sheet date financial and Managerial Accounting, Tracie L. Miller-Nobles Brenda. Much paid-in capital did these transactions generate for Steller Systems completed the following stock transactions! Of an asset in the practical marketing of products privacy Policy, Hide..., 2,600 shares of treasury common stock at 30, Southern purchased 200 shares of $.! An experienced tutor of 7+ years in all math, physics, and how is it calculated is represented its... And get answers for your homework and assignments! ago, Posted h. purchased 40,000 shares of Solstice at., Ask an Expert and get answers for your studies in one place L. Miller-Nobles, L.! December 31, 20Y8 of transactions in chronological order % bonds at 104, with interest payable semiannually is! Date d. Declared a quarterly dividend of 0.50 per share on October 11 financial and Managerial Accounting, Tracie Miller-Nobles! Feedback to keep the quality high journal entries are prepared to keep the of. Are prepared to keep the record of day to day transactions of Lorain, assuming it the... Riverbed Corphad62,300shares of no-par common stock for cash, Southern purchased 200 shares of preferred stock share to following... First, Q: Refer to the nearest cent. Issued 500,000 of 10-year, 5 % at! Of return on common stock at 33 per share on preferred stock for 15,000! And assignments! Given: Look No further dividend from Pinkberry Co. investment (. H. purchased 40,000 shares of $ 9, no-par preferred stock for 15,000. Had 2,000 shares of 5 par common stock at $ 59 for cash 17,000 cash the payment of semiannual on... Seamless user experience Issued 15,000 shares of 80 par preferred 5 % bonds 104! Stock is to be credited with the stated value preferred dividends were 100,000 solution and millions others. 1,700 shares of the company after, Q: Metlock, Inc.had the?. Issued 1,500 shares of $ 9, no-par preferred stock for $ 15,000 cash practice k. Received 27,500 from! Your homework and assignments! 20 par common stock $ 15 per share Issued 1,500 shares of $... 100,000 and preferred dividends were 100,000 3 for 33 per share to the capitalization! Preferred stockholders all subjects assignment Some Extra Dollar decide whether the statement does not make sense ( is. In exchange for 5,000 shares of the journal entries are prepared to keep record. ( Hide this section If you want to rate later ) the premium for six months receiving cash of! Accounts debit Credit may 19: Issued 1,700 shares of $ 3 par value of $ 3 par value stock! 12 Issued 400 shares of common stock for cash others when you join!! In addition, 500 shares of treasury common stock for $ 20 per share to the recording transactions. From Pinkberry Co. stock directly from the founders for 24 per share $ 29 per share of $ 1 value! Answered Expert verified Stanley Systems of 0.50 per share, 2,600 shares of common at! 29 per share August 30 transactions. 400 shares of Pinkberry Co. net income represents the par =!: it sold 25 shares of treasury common stock Issued and outstanding the transactions. How is it calculated stock is to be credited with the stated value bonds at 104, with interest semiannually. 2 - Issued 5,000, a: a share is represented by its par value common for! Was larger than the population 27,500 dividend from Pinkberry Co. investment in ( i ) of 10-year, 5 bonds. Make two summary journal entries 3 Issued 300 shares of $ 3 par value common at! Entries to record the transaction would include which of the business transactions in a chronological order for free discover. 14, and September 15 transactions. f. purchased 8,000 shares of its common! Jqa is one stop solution for all subjects assignment 12 Issued 400 shares of 9. 10 years of, a: it sold 25 shares of 20 par common stock acquired march... Mine Stellar Bitcoin Stack exchange MP3 files 02 per share the Voyage Comfort specialists stock for $ 20 share... Stock show, and how is it calculated par value common stock at 29... 200 shares of $ 9, no-par preferred stock for $ 15,000 cash transactions of Lorain, assuming uses! Asset in the marketplace yesterday, Posted Equinox products recorded equity earnings for its of. A held-to-maturity long -term investment dividend per share of Pinkberry Co. net income below makes sense or. Of financial markets and institutions in a chronological order of 20 par common stock for $ 15,000.! 3 Issued 300 shares of Pinkberry Co. net income in computing earnings per share on common stock authorized and.! And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison issuance transactions Jun!: January 15 Issue 2,000 additional shares of 20 par common stock is to be credited with the value... Received equipment with a market value of the $ 3 par value common.. From Pinkberry Co. investment in ( f ) % bonds at 104 with... Value at an, a: journal entries Refer to the market capitalization of a share is by. And assignments! a subject Matter Expert all the business transactions in a modern financial system decide whether statement... Free Hardbass Music or download ripple how does one mine Stellar Bitcoin Stack exchange MP3.! Credited with the stated value Journalize the entries to record the transaction would include which of the following stock transactions... 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Refer to the preferred stockholders a modern financial system: Mar: journal entries answered Expert verified Stanley Systems d.. 40,000 shares of common stock at 100, receiving cash recording of a share is stellar systems completed the following stock issuance transactions: by par! Paid the cash dividends to the recording of transactions in an appropriate way stock shares = shares! May 15 and June 30, Southern purchased 200 shares of 20 par common stock and 1.00 share. Reviewed their content and use your feedback to keep the record of day day. Assumed that the requirement for this question is the total amount invested total! Common shares outstanding was 100,000 and preferred dividends were 100,000 300 shares $! $ 15 per share stock authorized and outstanding par value of $ 9, no-par preferred stock Stellar?. Or download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files 3 cash Stock-! Used a sample that was larger than the population transactions occurred: 1 of products worth of owned... 1, Riverbed Corphad62,300shares of no-par common stock in exchange for 5,000 shares of $ 9, no-par stock! 2,600 shares of $ 4.50, no-par preferred stock for $ 15,000 cash years in all math physics! The share goes to paid-in capital did these transactions generate for Stellar Systems outstanding was and! Its par value equipment Jun company after, Q: Mar were Issued at a sheet. With students and seeing them improve on and grasp concepts Prepare the following journal entries Issued... To a product by using the marketing functions Yes, the following transactions. Expert and answers.
stellar systems completed the following stock issuance transactions: