Bandit, Inc., issued for $19 per share 5,000 shares of $10 par value common stock.  The entry to record this transaction includes: Select one: a. Increase Cash for 95,000; and increase Common Stock for 95,000 b. Increase Cash for 95,000; increase Common Stock for 50,000 and increase Paid-in Capital in Excess of Par Value for 45,000 c. Increase Cash for 95,000; increase Common Stock         for 50,000 and increase Retained Earnings for 45,000 d. Increase Cash for 95,000; increase Common Stock for    50,000 and increase Gain on Sale of Stock for 45,000 e. None of the above

Q: Oriole Company has issued 2,500 shares of common stock and 500 shares of preferred stock for a lump…

A: Common stock and Preference stock are two types of stock or shares that is being issued by the…

Q: A. Journalized the following transactions and prepare the Trail Balance: January, 2021 1 Pak Wheel…

A: Journal Entries Date Particulars…

Q: Swifty Corporation sold 310 shares of treasury stock for $35 per share. The cost for the shares was…

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

Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…

A: Lets understand the basics. Journal entry is required to make to record event and transaction that…

Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…

A: Issue of common stock is one of the ways in which the companies can raise funds for financing the…

Q: A company sold 10,000 shares of its own $1 par value common stock for $60,000. The entry to record…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: The following are capital stock transactions of the BBC Corporation. Apr. 1 - Authorized to issue…

A: Journal Entry :- A journal entry is the act of recording any transaction, whether one that is…

Q: A. Fernando Corporation is authorized to issue 40,000 shares of P85 par value ordinary shares.…

A: Common stock issued by the company should always be recorded at par value. Value above than par…

Q: If a corporation issues 1,000 shares of $1 par value common stock for $12,000, the journalentry…

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Q: Alma Corp. issues 1,000 shares of $10 par common stock at $14 per share. When the transaction is…

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

Q: XYZ company's outstanding stock consists 10,000 shares of common stock with a $10 par value and…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be…

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

Q: A. Journalized the following transactions and prepare the Trail Balance: January, 2021 1 Pak Wheel…

A: The following computations are done for Pak Wheel Corporation.

Q: Sneed Corporation issues 11,600 shares of $45 par preferred stock for cash at $67 per share. The…

A: Total par value of preferred stock issued = No. of shares issued x par value per share = 11,600…

Q: If Salman Company issues 16,000 shares of 10 par value common stock for 560,000 Paid-In Capital in…

A: Journal Entries can be defined as the record-keeping of the transactions of a company or an…

Q: Nash Group, Inc. issued 1,000 shares of $10 par common stock in Year 1 for $20 per share. Nash paid…

A: Treasury shares means the share which has been buy back by the company . It will be shown as…

Q: A. Fernando Corporation is authorized to issue 400,000 shares of P85 par value ordinary shares.…

A: Given that, Fernando Corporation is authorized to issue 400,000 shares Par value per share = P85

Q: Swifty Corporation's balance sheet reported the following: Capital stock outstanding, 4,500 shares,…

A: Journal entry refers to the recording of daily transactions of an organization. It has a credit and…

Q: Coronado Industries has issued 1,500 shares of common stock and 300 shares of preferred stock for a…

A: The issue price of the stock could be issued at par, premium or discount. If the proceed from…

Q: Nylah Corporation's balance sheet reported the following: Capital stock outstanding, 5,000 shares,…

A: Treasury stock: These are the own shares purchased by the issuing company from the open market.…

Q: If a corporation issues 6,000 shares of $5 par value common stock for $89,000, the journal entry…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 6000 x $5 =…

Q: Smart Poly Machine issues 5,000 shares of 5%, $10 Par Value Preferred Stock for $10,000 cash,…

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

Q: Evon, a limited liability company, issued 1,000,000 ordinary shares of 25 cents each at a price of…

A: We have the following information: Issued 1,000,000 ordinary shares of 25 cents each Issue $1.10…

Q: Refer to the following transactions. a. Issued 400 shares of $100 par value preferred stock at par.…

A: Financial statements includes: Balance sheet Income statement Cash flow statement Statement of…

Q: Jordan Company has 1,000 shares of $50 par value, 5% cumulative preferred stock and 50,000 shares of…

A: Given data, Cumulative preferred stock =1,000 shares of $50 Common stock =50,000 shares of $10 Cash…

Q: The Sneed Corporation issues 11,100 shares of $54 par preferred stock for cash at $62 per share. The…

A: The company can raise funds from different sources like by issuing common stock, issuing preferred…

Q: Vaughn Corporation issues 9900 shares of $50 par value preferred stock for cash at $85 per share.…

A: Given,  Par value = $50  Issue price = $85 Number of shares issued = 9,900

Q: he following accounts are shown on the statement of financial position of Phoenix Corporation…

A: Treasury stocks are, generally, those stocks that are bought back from their own shareholders. It…

Q: :(a) Purchased 400 shares of capital stock to be held as treasury stock, paying $60 per share.(b)…

A:

Q: A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share.…

A: Common Stock - Common Stock is the stock issued to the common shareholder's of the company.

Q: On December 2, Coley Corp. acquired 1,500 shares of its $3 par value common stock for $20 each. On…

A: Solution: Cost of treasury stock resold = 1100*$20 = $22,000

Q: If Dakota Company issues 3,000 shares of $9 par common stock for $45,000, a.Paid-In Capital in…

A: Paid-up capital is that part of capital which is paid by the shareholders. The capital is raised…

Q: The charter of Zion Associates provides for the issuance of 100,000 shares of common stock. Assume…

A: The charter shows the authorized number of shares which in this case is 100000 shares. Subsequently…

Q: Dallas Corporation purchased 300 shares of its own $10 par value common stock for $7,500. Later,…

A: The entry to repurchase would be:

Q: Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was…

A: Shares are a mean of raising capital from the shareholders. Shares can be ordinary shares or…

Q: A corporation sold 9,500 shares of its $10 par value common stock at a cash price of $11 per share.…

A: >Issuance of common stock is one of the Financing activity from which the corporation gets Cash…

Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…

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

Q: A corporation issues 6,000 shares of $5 par value commonstock for $8 cash per share. The entry to…

A: Cash received = 6,000 shares x $8 per share = $48,000.

Q: Spring Company is authorized to issue 7500,000 shares of $2 par value common stock. In its first…

A: Journal entry is defined as the book of accounts which records or maintain the transactions of the…

Q: Y Corporation is organized with authorized common stock of 10,000 shares without par value. If Y…

A: Stocks are issued by the companies in order to raise fund for the organisation. There are various…

Q: The records of Alamo Corporation showed the loilowing data Ordinary share capital, par P50…

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

Q: Fernando Corporation is authorized to issue 400,000 shares of P85 par value ordinary shares.…

A: Journal entry is an accounting process under which all relevant business transaction are recorded in…

Q: Sneed Corporation issues 11,700 shares of $55 par preferred stock for cash at $60 per share. The…

A: Stocks: Stocks are shares in the ownership of the company. It represents the capital raised by a…

Q: Taylor Corporation issues 20,000 shares of $50 par value preferred stock for cash at $90 per share.…

A: Issue price of preferred stock=Number of Shares×Issue price=20,000×$90=$1,800,000

Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The…

A: Cash received = 10,000 x $75 = $750,000 Preferred stock = 10,000 x $50 = $500,000 Excess = 10,000 x…

Q: The following information appears in the books of G Corporation: Share Capital (par P200; authorized…

A: Shares entitled to receive dividend are those which are issued and outstanding.

Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $62 per share. The…

A: Cash received = 10,000 shares x $62 = $620,000 Par value per share = $50 Paid in capital in excess…

Q: Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par…

A: Total market value of Common Stock = No. of shares x Market value per share  = 300 shares x $20 per…

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.