On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a current market price of $73. Journalize this transaction.

Q: Dristell Inc. had the following activities during the year (all transactions are for cash unless…

A: Cash flows from Financing Activities deals with the Activities where cash inflow and outflow are…

Q: The transaction below happened at Areej Company: 1. 1st of October, the owner of the company…

A: Introduction: The act of recording or keeping track of any financial or non-financial action is…

Q: Sudoku Company issues 25,000 shares of $7 par value common stock in exchange for land and a…

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

Q: On April 10, a company acquired land in exchange for 1,500 shares of $21 par common stock with a…

A: If a share is issued at a higher price than the par value, any excess amount goes to Paid-in Capital…

Q: ssuing Stock for Assets Other Than Cash On November 23, Elder Lift Corporation, a wholesaler of…

A: Issuing common shares in the exchange purchase of fixed assets is also one of way using by entities…

Q: The following information was taken from the accounting records of ATLANTA Company for the year…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: On April 10, a company acquired land in exchange for 3,000 shares of $24 par common stock with a…

A: The journal entry is the record of various economic or non-economic business transactions. Every…

Q: ssuing Stock for Assets Other Than Cash On April 5, Fenning Corporation, a wholesaler of hydraulic…

A: Journal entry is a primary entry that records the financial transactions initially. The recorded…

Q: Dristell Inc. had the following activities during the year (all transactions are for cash unless…

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: Novak Corp. had the following transactions. 1.   Sold land (cost $7,440) for $9,300. 2.   Issued…

A: Accounting is essential to operating a company since it allows businesses to track income and…

Q: On October 1, 2018, Branded Corporation exchanged 20,000 shares of its P 200 par value of Ordinary…

A: Lets understand the basics. When asset is purchased in exchange of shares then asset should be…

Q: On February 1, Brutus Company purchased 1,000 shares (2% ownership) of Wynne Company common stock…

A: Journal entries refers to the entries recorded in the accounting books of a company of all the…

Q: Dristell Inc. had the following activities during the year (all transactions are for cash unless…

A: Cash flow from investing activities is a part of cash flow statement. This section deals with the…

Q: On January 2, Cohan Company acquired 40% of the outstanding stock of Sanger Company for $677,000.…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: On April 5, Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for…

A: Total value of land = No. of commmon stock x Issue price per stock = 26,000 shares x $29 = $754,000

Q: On May 1, Splish Brothers Corporation purchased 2,700 shares of its $10 par value common stock at a…

A: journal entry of above transaction are as follows

Q: Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake…

A: Treasury stocks are the stocks which the organization has bought back from the shareholders  Under…

Q: Sudoku Company issues 22,000 shares of $9 par value common stock in exchange for land and a…

A: Face value of common stock issue = No. of common stock issued x Par value per share = 22,000 share x…

Q: A tract of land valued at $50,000 has been given to a corporation in exchange for 1,000 preferred…

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

Q: Farmers Incorporated issued 6,000 shares of its $10 par value common stock in exchange for land that…

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

Q: Whispering Winds Corp. was organized on January 1, 2020. It is authorized to issue 14,000 shares of…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: On January 2, Cohan Company acquired 40% of the outstanding stock of Sanger Company for $677,000.…

A: Investment in other company = 677,000 Income = 149,000 * 40 % = 59,600 Dividend = 27,500 * 40 % =…

Q: On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240…

A: At the time of purchase of investment, the brokerage on purchase becomes the cost of investment and…

Q: On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a…

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

Q: On January 1 Kwun Corporation purchased a 20% equity in Connors Corporation for $180,000. At…

A:

Q: Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake…

A: JOURNAL ENTRIES : DATE PARTICULARS DEBIT CREDIT         FEB 11 TREASURY STOCK  $321,900…

Q: Ramiro Company purchased 40% of the outstanding stock of Marco Company on January 1. Marco reported…

A: The shares purchased of other company are treated as investment in the business.

Q: Bloom Company obtained land by issuing 2,110 shares of its $19 par value common stock. The land was…

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

Q: The following transactions occurred last year at Joyce Company: Issuance of shares of the company's…

A: The Company gives the transactions that occured last year. Required  Net cash provided by the…

Q: Journalize this transaction

A: When common stock is issued in exchange of asset, journal entry will comprise of the following…

Q: Land appraised at $80,000 is purchased by issuing 1,000 shares of $20 par value common stock. The…

A: As per the requirements of G.A.A.P i.e. ( Generally Accepted Accounted Principles) the recording of…

Q: or Head is a privately-owned company. On October 1, Gator exchanged 3,000 shares of its private…

A: As per rules of accounting, If assets come in, then it should be debited but if assets go out then…

Q: On January 2, Cohan Company acquired 42% of the outstanding stock of Sanger Company for $552,500.…

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

Q: 29,000 shares reacquired by Bridgeport Corporation for $55 per share were exchanged for undeveloped…

A: In finance, an acquisitions or mergers used to transactions, where the company's ownership, where…

Q: A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a…

A: A journal is a part of the books of accounts, which is used to record all the transactions of the…

Q: Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment…

A: Investment is the amount that has been incurred in a project or an asset in order to earn some…

Q: The following transactions occurred last year at Joyce Company: Issuance of shares of the company's…

A: Cash flow from Financing activities: It include transactions relating to the debt, equity, and…

Q: KY Jewellers purchased a piece of land from the original owner. In payment for the land, KY…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: On January 2, Dundar Mifflin acquired 30% of the outstanding stock of Steve & Company for $105,000.…

A: share of outstanding stock of steve and company from Dundar mifflin  : 30% Income of steve and…

Q: A corporation issued 6,000 shares of its $10 par value common stock in exchange for land that has a…

A: Common stock means the amount raised against which the dividend is paid but after paying interest on…

Q: Issuing Stock for Assets Other Than Cash On November 23, Elder Lift Corporation, a wholesaler of…

A: Stock may be issued for assets other than cash, such as services rendered, land, equipment,…

Q: Dristell Inc. had the following activities during the year (all transactions are for cash unless…

A: The cash flow from investing activities portion of the cash flow statement indicates how much money…

Q: On April 10, a company acquired land in exchange for 1,000 shares of $20 par common stock with a…

A: Organizations that desire to conserve money or have limited cash on hand can enter into exchange…

Q: On January 2, Yorkshire Company acquired 38% of the outstanding stock of Fain Company for $380,000.…

A: Journal entries means the book of prime entry including debit and credit item. When share has been…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.