A company issued 10,000 shares at OMR 0.80, even though the face value of the share is OMR 1. Pass journal entry for the issue of shares.

Q: Al musanna LLC had the following transactions related to its common stock (OMR 1 par value) during…

A:

Q: Nebraska Inc. issues 2,350 shares of common stock for $75,200. The stock has a stated value of $13…

A: Common stock refers to a security that speaks to ownership in an organization. Holders of common…

Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to recordthe…

A: There are two type of stock or shares that are being issued by the company for raising of funds from…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: The shares issued at the higher amount as compared to par value are the shares issued at premium.…

Q: On May 10, Bramble Corp. issues 1,200 shares of $7 par value common stock for cash at $12 per share.…

A: Journal: Recording of a business transactions in a chronological order.

Q: Asempaneye Company was authorized to issue 100,000 shares of ghc1 par value common stock. 40,000…

A: Workings: Number of shares authorized = 100000 Each share par value = GHC 1 Shares issued = 40000 @…

Q: Zurich Corporation has 18,000 shares of $80 par common stock outstanding. On August 2, Zurich…

A: Common Stock- Common Stock refers to the securities that represent individuals' ownership and have a…

Q: *I need help on the Dec 31 entire entry (see attached): HW15-01A: On January 23, 15,000 shares of…

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: On March 1, the company issued 50,000 preferred shares with a 5% cumulative dividend for $10 per…

A: Preference shares are those who are given preference over the equity holders while at the payment of…

Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

Q: San Martin Corporation has 300,000 shares of P10 par value, ordinary shares authorized through its…

A: The total dividend paid to shareholders is based on the number of shares outstanding and the rate of…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Common Stock - Common Stock is the stock issued to the public for raising capital. This recorded in…

Q: ABC Company issued 50,000 shares for P100 per share. Par value of the shares is P10. During the…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: Omniponent company had 100 000 ordinary shares issued and outstanding at January 1. During the…

A: Particulars No. Beginning ordinary shares issued  100000 Add: shares issued (30000*9/12) 22500…

Q: A company issued 100,000 Shares of OMR 1 each at OMR 1.50 each. After 5 years, company issued right…

A: Existing shareholders receive bonus shares based on the company's profitability and reserves. Bonus…

Q: On 30 April, MBC Company issued 60 000 shares for $12 each, payable $4 on application, $4 on the…

A: Share Issued = 60,000 shares Share Subscribed = 60,000 - 10,000 = 50,000 shares  Share Application…

Q: Concord, Inc. issued 9800 shares of stock at a stated value of $7/share. The total issue of stock…

A: Given, Stated value = $7 per share Issue price = $12 per share Number of shares issued = 9,800…

Q: On May 10, a company issued for cash 1,000 shares of no-par common stock (with a stated value of $5)…

A: Amount credited to common stock = 1,000*$5 Amount credited to common stock = $5,000   Amount…

Q: BBT Corporation has 10,000 shares of ordinary shares issued and outstanding, P20 par. The board of…

A: Journal entry is the recording of a business transaction. It has date, the account titles, debit and…

Q: Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20.…

A: Lets understand the basics. Stated value or par value is a value which is assign to corporation's…

Q: Asuoba Plc has issued 500,000 equity shares at GHc5.80 per share. All shares were subscribed and…

A: Share issue is a process through which an entity offer shares in the exchange of money received from…

Q: Nebraska Inc. issues 4,150 shares of common stock for $132,800. The stock has a stated value of $18…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for the…

Q: On May 10, Blue Spruce Corporation issues 3,050 shares of $10 par value common stock for cash at $20…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

Q: Sheridan Corporation issued 335 shares of $10 par value common stock and 103 shares of $50 par value…

A: Given information is: Common stock shares = 335 shares  Preferred Stock shares = 103 shares

Q: Patience Co. was authorized to issue 400,000 ordinary shares with a stated value of P20.   The…

A: Share capital is considered as the portion of capital that is arisen from the investors. When an…

Q: Journalize the issuance of the stock

A: Stocks (Common Stock and Preferred Stock):   There are two types of the share capital of a company.…

Q: Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first…

A: Whenever a company issues common stock, then common stock is credited and cash is debited. If common…

Q: Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11…

A: The journal entry for stock issuance is represented as: Cash…

Q: At the start of 20X5, Happy Corp. had 20,000 shares of $5 par common stock issued and outstanding.…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: Hi-C Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On December…

A: The Company has $1,000,000 shares of 10%, $ 20 Par Value Preferred Stock outstanding. On December…

Q: The Blue Sea Co. issued 1,000 ordinary shares. Instructions: Prepare the entry for the issuance…

A:

Q: A company issues 10,000 shares of $0.05 par value common stock for $25 per share. Which of the…

A: Definition: Common stock: Common stock is the instrument used by the company for raising funds from…

Q: When a company issues 27,000 shares of $2 par value common stock for $20 per share, the journal…

A: A company can issue its share at par, premium or discount. When the share is issued at premium, then…

Q: Prepare the following journal entries   issued 2,000 shares of common stock, $ 1 par value at an…

A: A share  is represented by its par value. A share can be issued at premium and the premium is…

Q: Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per…

A: If common stock or preference stock is issued at premium then the journal entry comprises of credit…

Q: Nebraska Inc. issues 2,750 shares of common stock for $88,000. The stock has a stated value of $20…

A: When common stock is issued above par/stated value then the journal entry comprises of debit of cash…

Q: On June 1, Larkspur, Inc. issues 1,100 shares of no-par common stock at a cash price of $8 per…

A: Total amount received = No. of shares issued x Issue price per share = 1,100 shares x  $8 per share…

Q: Marla company issued 150,000 ordinary shares. Of these, 7,500 shares were held as treasury at…

A: The question is based on the concept of Share Capital Accounting. Treasury shares are the shares…

Q: Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per…

A: Common stock refers to the security that represents ownership of the stockholders in the company.…

Q: e. On May 12, 20,000 preference shares were converted to ordinary shares. f. On June 9, 15,000…

A: Convertible is the option to convert the preferred stock to common stock at pre-agreed ratio

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: hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the…

A: SOLUTION- SHARES MEANS A COMPANY'S CAPITAL IS DIVIDED IN TO SMALL UNITS OF A FINITE NUMBER .EACH…

Q: Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first…

A: Authorized share capital means the share capital which is the company is legally authorized to…

Q: Sheridan Company issued 1000 shares of no-par common stock for $4000. Which of the following journal…

A: Paid in capital in excess of stated value = Issue value - No. of shares issued x Stated value per…

Q: Riley Inc.'s charter authorizes 1,000 shares of stock at a stated value of $10 per share. Riley…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: Worldwide Company was authorized to issue 10,000 preference shares of $200 par value and 10,000…

A: Answer and calculations are given below

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.