Bridgeport Corporation issued 590 shares of no-par common stock for $8,800. Prepare Bridgeport's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is
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- Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling for 37 per share on the open market, and no significant impact on the market price is expected by the issuance of the additional shares. Prepare the journal entry to record this transaction.During 2012, Ponce Towers issued 30,000 additional shares of common stock on June 1 and 24,000 on November 1. The company earned 602,000 from continuing operations and 28,000 from another segment of the business that was discontinued during the year. Use your completed worksheet to prepare a computation of earnings per share for 2012. Erase any data in the Data Section that are not required for 2012. Save the solution for 2012 as EPS3 and print the results.Bridgeport Corporation issued 590 shares of no-par common stock for $8,800.Prepare Bridgeport’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.
- On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per share.Journalize the issuance of the shares assuming the stock has a stated value of $1 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Pronghorn Corp began operations on April 1 by issuing 52,200 shares of $4 par value common stock for cash at $15 per share. In addition, Pronghorn issued 2,300 shares of $1 par value preferred stock for $5 per share.Journalize the issuance of the common and preferred shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Osage Corporation issued 2,000 shares of common stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,675. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. (c) The stock had no par or stated value and was issued for a total of $52,000. (d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000. (e) The stock had a par value of $5 per share and was issued for land worth $52,000.
- Flint Corporation issued 1,900 shares of stock. Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (b) The stock had a stated value of $5.25 per share and was issued for a total of $46,500. (c) The stock had no par or stated value and was issued for a total of $46,500. A (d) The stock had a par value of $5.25 per share and was issued to attorneys for services during incorporation valued at $46,500. (e) The stock had a par value of $5.25 per share and was issued for land worth $46.500.On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 320,000 shares of no-par common stock (with a stated value of $2) at $6, and on August 3, it issued for cash 30,000 shares of $65 par preferred stock at $68. a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. For a compound transaction, if an amount box does not require an entry, leave it blank. Feb. 12 Cash Aug. 3 b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?$On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4) at $17, and on May 15, it issued for cash 2,000 shares of $17 par preferred stock at $61. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank.
- Sheridan Company issued 1,150 shares of stock.Prepare the entry for the issuance under the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The stock had a par value of $5 per share and was issued for a total of $49,450. (b) The stock had a stated value of $5 per share and was issued for a total of $49,450. (c) The stock had no par or stated value and was issued for a total of $49,450. (d) The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $49,450. (e) The stock had a par value of $5 per share and was issued for land worth $49,450. No. Account Titles and Explanation Debit Credit (a) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a…Vienna Corporation has 30,000 shares of $30 par common stock outstanding. On August 2, Vienna Corporation declared a 3% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $38 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Date Account Debit Credit Aug. 2 Sept. 15 Oct. 8On May 27, Mama Mia Inc. reacquired 78,000 shares of its common stock at $8 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $11 per share. On November 14, Mama Mia sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
