A corporation issues 3,100 shares of common stock for $99,200. The stock has a stated value of $15 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $46,500 $3,100 $99,200 $52,700

Q: A corporation issues 1,500 shares of common stock for $32,000. The stock has a par value of $10 per…

A: Company may raise capital or funds from the issue of common stock or preference stock. When these…

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: Rodriguez Corporation issues 19,000 shares of its common stock for $152,000 cash on February 20.…

A: Common stock: It refers to the security that provides the holder with the ownership rights in a…

Q: A corporation originally issued $6 par value common stock for $11 per share. It purchased the stock…

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

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: Bramble Corporation is authorized to issue both preferred and common stock. The par value of the…

A: Date Account Titles and Explanatiion Debit $ Credit $ Feb. 1 Cash (19500*57) 1111500…

Q: Flounder Corp. is authorized to issue both preferred and common stock. The par value of the…

A: If the Preferred shares are issued for more than the par value, then the excess cash received goes…

Q: When a company issues 36,000 shares of $4 par value common stock for $40 per share, the journal…

A: The journal entry of share issuance requires a debit to cash account and credit to share capital…

Q: Read & Learn Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: Number of Preferred Stock outstanding on 15th December = 1,000,000 shares Therefore, Number of…

Q: Rodriguez Corporation issues 15,000 shares of its common stock for $209,500 cash on February 20.…

A: If shares were issued at a premium then the difference between issue price and par value is…

Q: tock for 35,000 cash 2. A corporation issued 2,000 shares of par common stock to its promotors in…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

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: Rodriguez Corporation issues 17,000 shares of its common stock for $265,500 cash on February 20.…

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

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: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: E Calculator A corporation issues 4,500 shares of common stock for $144,000. The stock has a stated…

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

Q: Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:  66,000…

A: Definition:   Dividends: This is the amount of cash distributed to stockholders by a company out its…

Q: Weaver Corporation had the following stock issued and outstanding at January 1, Year 1. 1. 98,000…

A: Tje dividend is paid to shareholders from the retained earnings of the business.

Q: Orlando Corporation incorporated on January 2 of the current year. During the year, Orlando had the…

A: Solution:-  Calculation of total amount of stockholders' equity as of December 31 of the current…

Q: A company receives a subscription for 4,000 shares of $1 par value common stock at $10 per share.…

A: given  that,  company receives a subscription for 4,000 shares  par value per share = $1…

Q: Prepare the journal entry to record Jevonte Company’s issuance of 36,000 shares of its common stock…

A: Journal entry:   It is a systematic record of a financial transaction of an organization recorded in…

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. When company receives…

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: Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated…

A:

Q: Rodriguez Corporation issues 16,000 shares of its common stock for $42,300 cash on February 20.…

A: Journal entries are those which are recorded in the books in order to maintain a daily record of the…

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: Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock…

A: Solution: When common stock are issued for cash, cash is debited for issue price and common stock is…

Q: Larkspur, Inc. issues 7,600 shares of $108 par value preferred stock for cash at $116 per share.…

A: If the shares are issued for more than a par value of stock, then the excess amount goes to Paid-in…

Q: Nebraska Inc. issues 2,300 shares of common stock for $73,600. The stock has a stated value of $12…

A: Given that issued common stock = 2300 shares stated value = $12 per share

Q: Rodriguez Corporation issues 6,000 shares of its common stock for $95.300 cash on February 20.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Novak Corp. is authorized to issue both preferred and common stock. The par value of the preferred…

A: Preferred stock is another source of funds for an organization other than common stock. Preference…

Q: Bramble Corporation is authorized to issue both preferred and common stock. The par value of the…

A: Solution: Preferred stock Date Explanation Ref. Debit Credit Balance 1-Feb     $1,050,000.00…

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: The par value of the preferred is $50. During the first year of operations, the company had the…

A: Journal Entry  Date Account Title Debit Credit Feb 1 Cash (46,500 ×$53) $2,464,500…

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: Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20.…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Mt. Everst Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: 4% Stock Dividend is recorded using the market price of the stock as of the date of stock dividends…

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

A: When shares has no face value but are having a stated value then common stock account should be…

Q: A corporation issues common stock with a $5 stated value. Its Common Stock account has a balance of…

A: Here stated value is the Nominal value or par value at which shares are issued.  Number of shares…

Q: A corporation issues 4,500 shares of common stock for $144,000. The stock has a stated value of $19…

A: Definition:

Q: Q. question 3

A: Journal Entry: A journal entry is a systematic record of the business transactions in a…

Q: Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20.…

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

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: Pina Colada Inc. issues 4,650 shares of $100 par value preferred stock for cash at $145 per share.…

A: Paid in capital in excess of stated value = (Issue value per share - Stated value per share) x No.…