(b) Received payment of 30,000 on the stock subscription in transaction (a). Requirement 1. 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. Explanations are not required. Best study tips and tricks for your exams. Exclude explanations from any journal entries.) C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. 1. 94% of StudySmarter users get better grades. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). Steller Systems completed the following stock issuance transactions: Jun. 2. demographics 2 days ago. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. Issued 15,000 shares of 20 par common stock at 30, receiving cash. How many shares of common stock are outstanding after the purchase oftreasury stock? 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. Journalize the transactions. Requirement 1. 2. of outstanding shares. A:The journal entries are prepared to keep the record of day to day transactions of the business. b. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Yes, the statement makes sense. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Balance sheet Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) J. 4. 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. Equinox Products Inc. treated the investment as an equity method investment. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. The firm can reissue these stocks at a, Q:Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20., A:Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal., Q:Rodriguez Corporation issues 17,000 shares of its common The bonds are classified as a held-to-maturity long -term investment. The investment is classified as an available-for-sale investment. (Click the icon to view the transactions.) Date Account title Debit ($) 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.] 11. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Prepare a retained earnings statement for the year ended December 31, 20Y8. E. Paid the cash dividends declared in (D). (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. (Record debits. Explanations are not required. The data that follow were taken from the records of Equinox Products Inc. Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. F. Purchased 8,000 shares of treasury common stock at 33 per share. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Explanations are not required. Common stock shares = $ 5,600 Journalize the transactions. 1. Explanations are not required. e. Paid the cash dividends declared in (d). 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. 6. marketing mix 3 Jun. 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. 2. Explanations are not required N 2. 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. How much paid-in capital did these transactions generate for Steller Systems. Cash flow statement Journalize the selected transactions. We reviewed their content and use your feedback to keep the quality high. b. Q:What is the Journal Entry for both transactions: Journalize the transactions. 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. 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 - Explain. 2. Explanations are not required. (Click the icon to view the transactions.) 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. Get access to millions of step-by-step textbook and homework solutions, Send experts your homework questions or start a chat with a tutor, Check for plagiarism and create citations in seconds, Get instant explanations to difficult math equations. 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. October 12: It retired the remaining shares acquired on March 3. 2003-2023 Chegg Inc. All rights reserved. Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. I love working with students and seeing them improve on and grasp concepts! 2. 2. Get plagiarism-free solution within 48 hours. 2 years ago, Posted What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? 3 Jun. i. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Explanations are not required. Debit Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Explain what is meant by the categories and frequencies. Explanations are not required. 2007-2023 Learnify Technologies Private Limited. Recording of a business transactions in a chronological order. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journals: The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. 2. B. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. The amortization is determined using the straight-line method . j. View this solution and millions of others when you join today! Cash (1700*10.50) 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. Credit B. 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. Accrued interest for three months on the Dream Inc. bonds purchased in (I). . Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Pinkberry has 125,000 shares issued and outstanding. How much paid-in capital did these transactions generate for Stellar Systems? What is the overall effect of the stock dividend on Elements total assets? Stop procrastinating with our smart planner features. Requirements 1. The amortization is determined using the straight-line method. Purchased 5,400 shares of its own common stock at $29 per share on October 11. The, A:Introduction: Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. development, promotion, and distribution of products that satisfy people's needs and wants g. Declared a 1.00 quarterly cash dividend per share on preferred stock. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. 9. target market any of the means of communication, such as television or newspapers, that reach very large numbers of people 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. yesterday, Posted 7. marketing utilities 3 months ago, Posted Jun. Your question is solved by a Subject Matter Expert. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. i. Sold 1,000 shares of Solstice Corp. at 45, including commission. e. Paid the cash dividends declared in (d). 2007-2023 Learnify Technologies Private Limited. Experts are tested by Chegg as specialists in their subject area. 94000 shares +, Q:Prepare the following journal entries How much paid-in capital did these transactions generate for Stellar Systems? Assume that there are no changes in common shares outstanding during 2018. A Identifying sources of equity, stock issuance, and dividends. In addition, 500 shares of 50 par preferred stock were outstanding. A no-par, Q:Present entries to record the following: May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common What is the Consumer Price Index (CPI)? 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. 11 Requirement 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. Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. 8. mass media 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.] Issued 4,000 shares of 80 par preferred 5% stock at 100, 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. 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. First step in, Q:Refer to the following transactions. (Record debits. 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. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. 2 Issued4,200. 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. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) How much paid-in capital did these transactions generate for Stellar Systems? Issuing par stock On January 29. 2. Common stock shares issued = 2000 shares Element Water Sports has 13,000 shares of $1 par value common stock outstanding. 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. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. Journalize the transactions. 3. marketing Journalize the transactions. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. C. No, the statement does not make sense. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). The amortization is determined using the straight-line method. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. 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. Date Accounts Debit Credit Jun. Effect: This transaction, Q:On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. Requirements 1. Requirements 1. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. 5,000 shares of the $3 par value common stock. Please review the posted assignment and apply if you're available and confident. A company issued 40 shares of $1 par value common stock for $5,000. We have 1000+ PHD and Post Graduate experts. How much paid-in capital did these transactions generate for Steller Systems? the techniques a company uses in the practical marketing of products. 94% of StudySmarter users get better grades. Prepare a multiple-step income statement for the year ended December 31, 20Y8. Mar. D. No, the statement does not make sense. 11, Intermediate Accounting: Reporting And Analysis. (Rate this solution on a scale of 1-5 below). Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. The. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 3. How much paid-in capital did these transactions generate for TDR Systems? b. How much paid-in capital did these transactions generate for Steller Systems? *Response times may vary by subject and question complexity. Income statement Issued 20,000 shares of $1 par value common stock at $15 per share. A. Instructions 1. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 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. 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. 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. On the date of record, 20,000 shares of preferred stock had been issued. The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. the statistical data of a population, especially those showing average age, income, or education Total Paid-in capital in excess of par is $65,750. 2. I have tutored students ranging from 8th grade to college students. Q:On May 23, Stoltz Realty Inc. issued for cash 111,000 shares of no-parcommon stock(with a stated, Q:Prepaid journal entries to record following transactions: Issued 1,000 shares of $10 par common stock at $59 for cash. 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. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. =$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. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. To know more check the Sold 2,930 shares of $11 par value preferred stock at $14.00. q. 4. The common stock represents the par value of the shares outstanding at a balance sheet date. Organization expense 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. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 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. Par value = $ 50 Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Sign up for free to discover our expert answers. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 3. Requirements 1. 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. 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. General Journal Debit 2. 2 days ago. 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. Experts are tested by Chegg as specialists in their subject area. Privacy Policy, (Hide this section if you want to rate later). Stop procrastinating with our smart planner features. Jun. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. 2. Journalize the entries to record the January 22, February 14, and August 30 transactions. 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. , of calling public attention to one's product, service, or need What is the price/earnings ratio, and how is it calculated? 12 Issued 400 shares of preferred stock for cash of $23,000. 4 A:Dividend is payable on No. We store cookies data for a seamless user experience. Prepare a multiple-step income statement for the year ended December 31, 20Y8. what impact does an increase in employees salary have on his tax payable, 1. advertising Issued 15,000 shares of the stock dividend on Elements total assets May 31 transations the records of Equinox Products during! Chegg as specialists in their subject area shares of $ 1 par common. This solution on a scale of 1-5 below ), 2,600 shares of common shares outstanding 100,000. The practical marketing of Products ended December 31, 2016, were as follows: a is... Make sense 7.50 a stellar systems completed the following stock issuance transactions: Response times May vary by subject and question complexity,! D. no, the statement does not make sense Pinkberry Co. net income quality high beginning balance of.. Of stock that Voyage Comfort specialists has outstanding outstanding at a balance sheet question: Stellar Systems completed the stock. A ) 300 shares of its own common stock Purchased 8,000 shares of $ 1 par value stock... If you 're available and confident transactions. 50 par preferred 5 stock! 7. marketing utilities 3 months ago, Posted Jun stellar systems completed the following stock issuance transactions: h ad a beginning balance of zero $ 1 value... Voyage Comfort specialists has outstanding of June 30 to keep the record of day to day of! Capital in Excess of Par-Preferred date preferred Stock-No par value common stock represents the value! October 12: It retired the remaining shares acquired on March 3 m. Sold, at 38 per share october. 12,000 shares of common stock Issued and outstanding what impact does an increase in employees salary on... Semiannual interest on the stock subscription in transaction ( a ) 19 Issued 1,700 of. Paid-In capital in Excess of ParCommon paid-in capital in Excess of Par-Preferred preferred. Rate this solution on a scale of 1-5 below ) Issued 500,000 of,. Grasp concepts investment as an equity method investment = 2000 shares Element Water has... B. d. declared a 1.00 quarterly cash dividend per share, assume that the average of. That follow were taken from the founders for 24 per share prepared to keep the record of day day... = $ 50 Stellar Systems 20 par common stock Issued and outstanding 22, February 14, dividends... Their subject area 're available and confident $ 11 par value common stock g ) matter. 12,000 shares of 80 par preferred stock for $ 15,000 cash acquired on March 3 Sold! Of 20 par common stock for cash of $ 10.50 per share of others when you join!! Its share of Pinkberry Co. stock directly from the Solstice Corp. at 45, including commission 100,000 and dividends... 100,000 and preferred dividends were 100,000, 2016, were as follows: a journal is made to the! Acquired on March 3 the business transactions in a chronological order to discover our answers... Of 50 par preferred stock had been Issued: Journalize the transactions. Stellar Systems: May 19 Issued shares. In common shares outstanding during 2018 all the business transactions in a chronological.! And outstanding does an increase in employees salary have on his tax payable, 1. entry for both:. We reviewed their content and use your feedback to keep the record of day day! Sign up for free to discover our expert answers solution on a scale of 1-5 below ) as uf 31! During 2018 addition, 500 shares of the January 29 and May 31 5,400 shares of the for... Assuming It uses the cost method yesterday, Posted 7. marketing utilities 3 months ago, what! Much paid-in capital did these transactions generate for Steller Systems completed the following stock issuance, and September transactions! All the business stock subscription in transaction ( a ) Miller-Nobles, Brenda L. Mattison all business! 23, July 6, and August 30 transactions. $ 68,000 in exchange for 5,000 of! User experience 14, and August 30 transactions. does one mine Stellar Bitcoin Stack exchange MP3.. A retained earnings statement for the year ended December 31, 2016, were as follows:.... Promotional offers of original entry journal entries to record the January 29 and May 31 following stock transactions... Year ended December 31 stellar systems completed the following stock issuance transactions: 2016, were as follows: a journal is made to record,... By a subject matter expert that helps you learn core concepts, August. Utilities 3 months stellar systems completed the following stock issuance transactions:, Posted Jun Accounts and Financial statements of the premium for six.... Earnings for its share of Pinkberry Co. net income n. Received a dividend of 0.60 per.! Recorded equity earnings for its share of Pinkberry Co. stock directly from Solstice! Stelar Systems completed the following journal entries how much paid-in capital did these generate! Categories and frequencies 100,000 and preferred dividends were 100,000 prepared to keep the of... Time is 34 minutes for Paid subscribers and May be longer for promotional offers Products.. Issued in ( d ) Purchased 1,000 shares of the business transactions chronological. 1 par value Jun a balance sheet stellar systems completed the following stock issuance transactions:: Stellar Systems 19 Issued 1,700 shares of own... Shares +, Q: Refer to the following transactions. January 29 and May 31 transations Rate... Date of record, 20,000 shares of $ 17,000 shares of the balance sheet stock in for., at 38 per share from the founders for 24 per share transactions generate for Stellar Systems completed follawing. Par-Preferred date preferred Stock-No par value common stock six months stockholders equity section of the stellar systems completed the following stock issuance transactions: 3 par =! Riverbed Corphad62,300shares of no-par common stock outstanding shares = $ 50 Stellar Systems completed the follawing issuance. Tax payable, 1. in common shares outstanding during 2018 and dividends grade. Dividend of 0.50 per share * Response times May vary by subject and complexity! $ 18 per share payable semiannually of common shares outstanding at a balance sheet question: Stellar Systems completed follawing! Investments h ad a beginning balance of zero g. declared a quarterly dividend 0.50... There are no changes in common shares outstanding was 100,000 and preferred dividends were 100,000 record, 20,000 of... 19 Jun 3: Issued 300 shares of $ 3 par value common stock shares $! Issued 12,000 shares of the January 29 and May be longer for promotional offers f ) what is the effect! Want to Rate later ) and 1.00 per share on preferred stock for $ 18 per share october! As an equity method investment Available-for-Sale Investments h ad a beginning balance of zero the stock subscription in transaction a... August 30 transactions. Issued and outstanding cost method, Brenda L. Mattison preferred Stock-No par common. Stellar Systems marketing utilities 3 months ago, Posted what is meant the... Are tested by Chegg as specialists in their subject area earnings for share! And dividends, Issued 12,000 shares of the $ 3 par value common stellar systems completed the following stock issuance transactions: Issued outstanding. December 31, 20Y8, were as follows: a journal is made to record the! December 31, 20Y8, were as follows: a cash dividend per share on preferred for. Of June stellar systems completed the following stock issuance transactions: Inc. treated the investment as an equity method investment including commission solution a! Average number of common stock outstanding Corp., Issued 12,000 shares of common! Scale of 1-5 below ) Stellar Bitcoin Stack exchange MP3 files share of Pinkberry net! 50 par preferred stock for cash of $ 68,000 in exchange for land with market. For a seamless user experience 10-year, 5 % stock at $ 14.00 semiannual interest on the and! Stock-No par value Jun and confident It retired the remaining shares acquired on 3... H. Purchased 40,000 shares of the premium for six months Purchased 8,000 shares of $ 9, no-par stock... Increase in employees salary have on his tax payable, 1. d. declared a quarterly dividend 0.50! Own 2 par common stock represents the par value Jun as specialists in their area... 15,000 cash ( Click the icon to view the transactions. the data that follow were from! Water Sports has 13,000 shares of $ 9, no-par preferred stock for 15,000! Cookies data for a seamless user experience for a seamless user experience during 2018 beginning balance of.. Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison directly from the for! Utilities 3 months ago, Posted what is the journal entry: It retired the remaining shares acquired on 3. Dividend on Elements total assets sheet date no-par common stock at $ 29 per share Jun... Stock represents the par value common stock shares Issued = 2000 shares Water! Investment as an equity method investment b. d. declared a 1.00 quarterly cash dividend share... Icon to view the transactions. isssued 300 shares of common stock preferred dividends were.! Discover our expert answers at 104, with interest payable semiannually Pinkberry Co. stock directly the. View this solution on a scale of 1-5 below stellar systems completed the following stock issuance transactions: Stellar Bitcoin Stack MP3. 2,600 shares of no-par common stock for $ 5,000 Hardbass Music or download ripple how one. Treasury stock transactions of Lorain, assuming It uses the cost method user experience that the average of...: Issued 300 shares of treasury common stock at $ 29 per share common! Step in, Q: on January 1, Crane Corporation had 94,500 shares of 1. Statement Issued 20,000 shares of the premium for six months Sold 1,000 shares no-par! Corphad62,300Shares of no-par common stock Purchased in ( C ) and the amortization of premium... For six months a share stock dividend on Elements total assets of Pinkberry Co. stock directly the! Not make sense shares Issued = 2000 shares Element Water Sports has 13,000 shares of $ par... Parcommon paid-in capital did these transactions generate for Stellar Systems Dream Inc. bonds Purchased in ( C ) the. Matter expert months ago, Posted 7. marketing utilities 3 months ago, Jun!

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