Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 35,000 shares of $25 par common stock at $85, and on February 27, it issued for cash 100,000 shares of preferred stock, $5 par at $8. a.  Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22   fill in the blank d725e7f4ff95fb3_2 fill in the blank d725e7f4ff95fb3_3     fill in the blank d725e7f4ff95fb3_5 fill in the blank d725e7f4ff95fb3_6     fill in the blank d725e7f4ff95fb3_8 fill in the blank d725e7f4ff95fb3_9 Feb. 27   fill in the blank d725e7f4ff95fb3_11 fill in the blank d725e7f4ff95fb3_12     fill in the blank d725e7f4ff95fb3_14 fill in the blank d725e7f4ff95fb3_15     fill in the blank d725e7f4ff95fb3_17 fill in the blank d725e7f4ff95fb3_18 b.  What is the total amount invested (total paid-in capital) by all stockholders as of February 27? $

Q: On January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On…

A: Total amount received from issue of preferred stock = 7,000 shares x $94 per share = $658,000 Par…

Q: Entries for Issuing Stock On January 22, Erin Corporation issued for cash 13,000 shares of no-par…

A: Journal entry: It is the set of economic events that can be measured in monetary terms. These are…

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 320,000 shares of $5 par…

A: Total paid in capital is the amount of capital which includes the common stock, preferred stock,…

Q: Entries for Stock Dividends Vienna Corporation has 33,000 shares of $60 par common stock…

A: Stock Dividend = 33,000 x 2%                          = 660 Shares Value of Stock Dividend = 660…

Q: Entries for Issuing Stock On January 22, Erin Corporation issued for cash 21,000 shares of no-par…

A: Definition:

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of…

A: On January 22 : (a) Number of Common Stock shares issued = 210,000 shares (b) Par Value = $ 30 (c)…

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 110,000 shares of $8 par…

A: Total amount invested (total paid in capital) = Total common stock capital + Total preferred stock…

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 120,000 shares of $5 par…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On…

A: Cash received on January 22 = No. of common shares issued x issue price per share = 12,000 x $45 per…

Q: Entries for Isuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for…

A: Amount  received  for issue of shares in excess of par value will be credited  to paid in capital…

Q: On April 1, 9,000 shares of $7 par common stock were issued at $23, and on April 7, 4,000 shares of…

A: Date Account Titles and Explanation  Debit   Credit  Apr'1 Cash (9,000 shares X $ 23 per share)  $…

Q: Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for…

A: Solution a: Pidgeon Stones Inc. - Journal Entries Date Particulars Debit  Credit 31-Oct Cash…

Q: On January 22, Shamrock Corporation issued for cash 13,000 shares of no-par common stock at $40. On…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 76,000 shares of its common stock at…

A: Introduction Treasury stock: Treasury stock is the company’s its own stock which company purchases…

Q: On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of…

A: Date Account Titles and Explanations  Debit   Credit  May'1 Cash  (10,000 shares X $ 30 per share)…

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 50,000 shares of $8…

A: Issue of stock means to sell the shares of the entity in the market. The selling of shares could be…

Q: ntries for Treasury Stock On May 27, Let Loose Inc. reacquired 3,800 shares of its common stock at…

A: Treasury stock is the corporation's issued stock that has been bought back from the stockholders. As…

Q: Joung Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash…

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

Q: On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of…

A: Journal Entries are used to record the transactions of the business in chronological order. When…

Q: On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 250,000 shares of no-par common…

A: Total amount received from issue of common stock = 250,000 shares x $15 per share = $3,750,000 Total…

Q: McVie Corporation’s stock has a par value of $2. The company has the following transactions during…

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

Q: Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued…

A: To prepare journal entries first we need to understand the Golden Rules of Accounting and the types…

Q: McVie Corporation’s stock has a par value of $2. The company has the following transactions during…

A: When share are issued at price more than par value , then the extra amount received by company is…

Q: On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of…

A: Solution:- preparation of journal entries as follows under:-

Q: Ise Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 4,600 shares of its common stock…

A: When a company reacquires/purchases its owns share, it called treasury shares. Assumption :cost…

Q: Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: Professional Products Inc., a wholesaler of office products, was organized on February 5 of the…

A: Total cash received on issue of preferred stock = No of shares issued x issue price = 15,000 shares…

Q: Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 79,000 shares of its common stock at…

A: Solution:- Preparation of journal entries as follows under:-

Q: Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for…

A:

Q: Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor,…

A: The shareholders equity comprises of issued capital, retained earnings, etc. The total paid in…

Q: Issuing Stock Willow Creek Nursery, with an authorization of 75,000 shares of preferred stock and…

A: Journal is the initial step in recording the financial transaction, date wise as per the dual entity…

Q: On January 22, Ireland Corporation issued for cash 12,000 shares of no-par common stock at $45. On…

A: Journal Entry is Record of a Transaction in Accounting System. A Journal Entry has Two Colum Debit…

Q: McVie Corporation's stock has a par value of $2. The company has the following transactions during…

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

Q: Entries fOF ISsuIny StOck On January 22, Ireland Corporation issued for cash 30,000 shares of no-par…

A: Paid in capital in excess of par - Preferred stock = Issue value of preferred stock - Par value of…

Q: a.  Journalize the entries for October 31 and November 19. If an amount box does not require an…

A: Meaning of Common Stock Common stock is also known as ordinary shares or equity shares which are a…

Q: Entries for Issuing Stock On January 22, Shamrock Corporation issued for cash 15,000 shares of…

A: Journal entries are prepared to record the financial and non financial transactions of the business…

Q: On April 1, 10,000 shares of $6 par common stocK Were issued at $24, and on April 7, 6,000 shares of…

A: Date Accounts titles and Explanation Debit ($) Credit ($) Apr-01 Cash(10000*24)            240,000…

Q: Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on…

A: given that,   authorised 1% prefered stock = 100000 shares  par value of preferred stock = $50…

Q: Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 24,000 shares of…

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

Q: Vienna Corporation has 29,000 shares of $80 par common stock outstanding. On August 2, Vienna…

A: The question is based on the concept of Journal Entry.

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 140,000 shares of $8 par…

A: JOURNAL ENTRIES : DATE  PARTICULARS  DEBIT ($) CREDIT ($)         OCTOBER 31 CASH (140,000 X…

Q: Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor,…

A: a.  Date   Account title and explanation   Debit   Credit   Jan. 22   Cash (45,000 x $41)…

Q: Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued…

A: Common Stocks refers to shares entitling their holder to dividends that vary in amount.It is also…

Q: Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash…

A: Preferred stock means the amount raised against which dividend is given to stock holder but after…

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.