Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 310,000 shares of no-par common stock (with a stated value of $3) at $12, and on June 30, it issued for cash 20,000 shares of preferred stock, $90 par at $94. a. Journalize the entries for May 15 and June 30, 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. May 15 June 30 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 307
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- A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stockStockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21. 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 Aug. 3 b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?
- Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of $1.50) at $4, and on June 30, it issued for cash 17,500 shares of preferred stock, $50 par at $60. a. Journalize the entries for May 15 and June 30, 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. May 15 June 30 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30?Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 250,000 shares of no-par common stock (with a stated value of $5) at $15, and on June 30, it issued for cash 25,000 shares of preferred stock, $70 par at $73. a. Journalize the entries for May 15 and June 30, 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. May 15 fill in the blank 87fa3303cfb5f86_2 fill in the blank 87fa3303cfb5f86_3 fill in the blank 87fa3303cfb5f86_5 fill in the blank 87fa3303cfb5f86_6 fill in the blank 87fa3303cfb5f86_8 fill in the blank 87fa3303cfb5f86_9 June 30 fill in the blank 87fa3303cfb5f86_11 fill in the blank 87fa3303cfb5f86_12 fill in the blank 87fa3303cfb5f86_14 fill in the blank 87fa3303cfb5f86_15 fill in the blank 87fa3303cfb5f86_17 fill in the blank 87fa3303cfb5f86_18 b. What is the total amount invested (total…Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21. Question Content Area a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Feb. 12 Cash Cash - Select - - Select - - Select - - Select - Aug. 3 - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?$fill in the blank
- Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 225,000 shares of no-par common stock (with a stated value of $4) at $12, and on August 3, it issued for cash 30,000 shares of preferred stock, $70 par at $77. a. Journalize the entries for February 12 and August 3, 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. Feb. 12 fill in the blank b61f68033ffb003_2 fill in the blank b61f68033ffb003_3 fill in the blank b61f68033ffb003_5 fill in the blank b61f68033ffb003_6 fill in the blank b61f68033ffb003_8 fill in the blank b61f68033ffb003_9 Aug. 3 fill in the blank b61f68033ffb003_11 fill in the blank b61f68033ffb003_12 fill in the blank b61f68033ffb003_14 fill in the blank b61f68033ffb003_15 fill in the blank b61f68033ffb003_17 fill in the blank b61f68033ffb003_18 b. What is the total amount invested…On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4) at $18, and on May 15, it issued for cash 6,000 shares of $17 par preferred stock at $62. 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. May 10 May 15Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 225,000 shares of no-par common stock (with a stated value of $6) at $18, and on August 3, it issued for cash 25,000 shares of preferred stock, $80 par at $84. a. Journalize the entries for February 12 and August 3, 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. Feb. 12 Aug. 3 b. What is the total amount invested (total paid-in capital) by all stockholders as of August 37
- On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 730, 000 shares of no - par common stock (with a stated value of $1.70) at $4.70, and on August 3, it issued for cash 24, 700 shares of preferred stock, $45 par at $61. Required: a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. What is the total amount invested (total paid - in capital) by all stockholders as of August 3?On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 210,000 shares of no-par common stock (with a stated value of $3) at $12, and on June 30, it issued for cash 20,000 shares of preferred stock, $75 par at $79. Question Content Area a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Date Account Debit Credit May 15 June 30 Feedback Area Feedback Question Content Area b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30?fill in the blank 1 of 1$On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21.a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value.b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?
