Nexis Corp. issues 1,970 shares of $9 par value common stock at $17 per share. When the transaction is recorded, credits are made to a.Common Stock, $15,760 and Retained Earnings, $17,730. b.Common Stock, $15,760 and Paid-In Capital in Excess of Stated Value, $17,730. c.Common Stock, $17,730, and Paid-In Capital in Excess of Par—Common Stock, $15,760. d.Common Stock, $33,490.

Q: Sneed Corporation issues 13,300 shares of $46 par preferred stock for cash at $61 per share. The…

A: Whenever the preferred stock shares are issued at premium i.e above their par value, the par value…

Q: On February 22, Brett Corporation acquired 180 shares of its $3 par value common stock for $26 each.…

A: The accounting entry on purchase of treasury share at 26 was Debit Treasury stock 4680 and credit…

Q: February 16, Hawthorne Co. declares a $0.34 dividend to be paid on April 5. Hawthorne has 2,000,000…

A: Dividend  pay will result in cash outflows

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: ZY Company's Stockholders' equity is comprised o 1,000 shares of P2 par common stock, P4,000 of…

A: Premium per share = Market price per share - Par value per share = P5 - P2 = P3 per share

Q: Nexis Corp. issues 2,870 shares of $8 par value common stock at $17 per share. When the transaction…

A: Common stock can be issued at more price than the par value of the shares. The premium on in excess…

Q: Alt Corp. issues 5,000 shares of $10 par value common stock at $14 per share. When the transaction…

A: We have the following information: Alt Corporation issued Common Stock Common Stock Shares: 5,000 ;…

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: On December 2, Coley Corp. acquired 1,400 shares of its $5 par value common stock for $20 each. On…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: Nexis Corp. issues 2,470 shares of $11 par value common stock at $16 per share. When the transaction…

A: The excess amount over the par value of a common stock is considered as paid-in capital in excess of…

Q: Badger Corporation issued 9,000 shares of its $5 par value common stock in payment for attomey…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 9000 x $5 =…

Q: Sheffield Corp.'s balance sheet reported the following: Capital stock outstanding, 4,000 shares,…

A: Treasury stock is the amount or value of stock that is being reacquired or repurchased from the…

Q: Noid corp issues 1700 shares of 19$ par value common stock at23 per share when the transaction…

A: Cash received from  issue of shares =1700 shares × $23 =$39100

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: Concord, Inc. issued 9800 shares of stock at a stated value of $7/share. The total issue of stock…

A: Given, Stated value = $7 per share Issue price = $12 per share Number of shares issued = 9,800…

Q: Alma Corp. issues 2,150 shares of $9 par common stock at $15 per share. When the transaction is…

A: When the share is issued at an excess price than a par value of a share, it is recorded to the…

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

A: Formula: PAR value of common stock = PAR value x Shares issued

Q: On June 1, Noonan Inc. issues 3,550 shares of no-par common stock at a cash price of $9 per share.…

A: All the transactions of an entity are properly accounted by making corresponding journal entries in…

Q: Ivanhoe Corporation issued 341 shares of $10 par value common stock and 145 shares of $50 par value…

A: Journal entry to record the issuance:: Cash account Dr::$19188...      To Common stock…

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: 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: Nexis Corp. issues 1,960 shares of $11 par value common stock at $15 per share. When the transaction…

A: A journal entry is the recording of financial transactions of business entity in the books of…

Q: Sheridan Corporation issued 335 shares of $10 par value common stock and 103 shares of $50 par value…

A: Given information is: Common stock shares = 335 shares  Preferred Stock shares = 103 shares

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: Alma Corp. issues 1,170 shares of $5 par common stock at $15 per share. When the transaction is…

A: This query relates to the common stock issue journal entry. As soon as a share is granted, the par…

Q: Required Prepare the stockholders’ equity section of the year-end balance sheet.

A: Stockholders' equity is the amount of assets remaining in a business after all liabilities have been…

Q: On January 1, Concord Corporation had 172000 shares of $10 par value common stock outstanding. On…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Alma Corp. issues 1,120 shares of $7 par common stock at $15 per share. When the transaction is…

A: The correct journal entry to record issue of shares will be: Account Titles   Debit   Credit…

Q: Nexis Corp. issues 1,900 shares of $12 par value common stock at $17 per share. When the transaction…

A: Journal entries are passed following the golden rules of accounting  Debit all assets and expenses…

Q: Vienna Corporation has 31,000 shares of $90 par common stock outstanding. On June 8, Vienna…

A: Stock Dividend: 'Stock dividend' is a dividend paid in the form of stocks. The stock dividend does…

Q: Upperchurch Company reports the following components of stockholders' equity on January 1. Common…

A: Date Transaction Impact on Equity  Amount  Jan'1 Total Stockholders' Equity - January'1    $…

Q: At the beginning of 20X1, the accounting records of Friends Corp. reported the following: $ 228,750…

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

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: 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 one of the financial statements which is used to record…

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: he following information pertains to Ming Corp. at January 1, Year 2: Common stock, $12 par, 53,000…

A: MING  CORPORATION Balance sheet As of December 31 2018 Stockholders equity     Common stock…

Q: The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share.…

A: Definition: Preferred stock: The stock that provides a fixed amount of return (dividend) to its…

Q: On October 10, the stockholders’ equity of Sherman Systems appears as follows.            Common…

A: Previously issued stock that has been acquired by the issuing business from stockholders is referred…

Q: Sage Corporation issued 392 shares of $10 par value common stock and 128 shares of $50 par value…

A: Under proportionate method, the lump sum amount has to be allocated between common stock and…

Q: Nexis Corp. issues 1,180 shares of $9 par value common stock at $17 per share. When the transaction…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Ahrens Industries is authorized to issue 250,000 shares of no-par common stock with a $6 stated…

A: Formula:  Additional paid-in capital = Number of common shares x ( Issue price - stated price )

Q: hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the…

A: SOLUTION- SHARES MEANS A COMPANY'S CAPITAL IS DIVIDED IN TO SMALL UNITS OF A FINITE NUMBER .EACH…

Q: Alma Corp. issues 1,170 shares of $5 par common stock at $15 per share. When the transaction is…

A: This question deals with the journal entry for issue common stock. When share is issued then par…

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: Badger corporation issued 9,000 shares of its $5 per value common stock in payment for attorney…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 9000 x $5 =…

Q: Nexis Corp. issues 1,110 shares of $9 par value common stock at $17 per share. When the transaction…

A: When common stock is issued anything received in excess of par is credited to paid in capital in…

Q: Bonita Corp. issues 1500 shares of $10 par value common stock at $16 per share. When the transaction…

A: The question is multiple choice question. Required  Choose the Correct Option.

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.