On January 22, Erin Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Erin issued at par value 5,000 shares of preferred 8% stock, $100 par for cash. On August 30, Erin issued for cash 16,000 shares of preferred 8% stock, $100 par at $108. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

Q: Vincent Corporation has 91,000 shares of $105 par common stock outstanding. On June 30, Vincent…

A: Introduction: A journal entry is a record of a business arrangement in the accounting system of a…

Q: Entries for issuing stockOn May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon…

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

Q: Entries for Treasury Stock On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common…

A: Treasury stock is the outstanding stock purchased by company itself. Treasury stock is to be…

Q: On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common stock at…

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

Q: Alpine Energy Corporation has 1,500,000 shares of $10 par common stock outstanding. On August 2,…

A: Required journal entry:

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 736,000 shares of no-par…

A: If the shares are issued at more than a par value of a share, the excess amount goes to Paid-in…

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: On January 22, Limerick Corporation issued for cash 15,000 shares of no-par common stock at $15. On…

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

Q: Northwest Clothing Supply has the following transactions during the year related to stockholders'…

A: Total dividend declared  = (no. of Common stock + no. of preferred stock) x dividend per share =…

Q: Rodriguez Corporation issues 19,000 shares of its common stock for $152,000 cash on February 20.…

A: Common stock: It refers to the security that provides the holder with the ownership rights in a…

Q: Zurich Corporation has 18,000 shares of $80 par common stock outstanding. On August 2, Zurich…

A: Common Stock- Common Stock refers to the securities that represent individuals' ownership and have a…

Q: On February 13, Elman Corporation issued for cash 75,000 shares of no-par common stock (with a…

A: The reporting of the transactions in the accounting books can primarily be done by recording Journal…

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

A: Solution The journal entries of January 22 , February 14 and August 30 transactions are shown below

Q: On May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $2)…

A: Given that: Common stock shares issued = 2000 shares Preferred Stock shares = 3000 shares

Q: Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market…

A: Solution:- Journal entries in the books of Red Market Corporation

Q: On May 10, a company issued for cash 1,000 shares of no-par common stock (with a stated value of $5)…

A: Amount credited to common stock = 1,000*$5 Amount credited to common stock = $5,000   Amount…

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: Rodriguez Corporation issues 17,000 shares of its common stock for $265,500 cash on February 20.…

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

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: Antique Buggy Corporation has 820,000 shares of $35 par common stock outstanding. On June 8, Antique…

A: Given: Outs standing share = 820,000 Stock dividend = 5% Market price on June 8 = $63

Q: Journalize the entries to record the January 22, February 14, and August 30 transactions. If an…

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 729,000 shares of no-par…

A: Shareholders equity balance includes common stock, preferred stock, additional paid-in capital. From…

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: Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a staled value of $3)…

A: Journal entries are usually recorded in the books to primarily show the effect of transactions…

Q: On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at $4. On…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: Italian Stallion has the following transactions during the year related to stockholders’…

A: Amount of Dividend  = (No. of common stock + No. of preferred stock) x Dividend per share = (6,000…

Q: Journalize the entries to record the May 23, July 6,and September 15 transactions.

A:

Q: On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated…

A: It is assumed that the requirement for this question is the preparation of the journal entries.

Q: On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: On February 13, Solo Inc. reacquires 50,000 shares of its $1 par value common stock at the current…

A: Financial statements are the recording of business transactions in the various statements which are…

Q: Rodriguez Corporation issues 16,000 shares of its common stock for $42,300 cash on February 20.…

A: Journal entries are those which are recorded in the books in order to maintain a daily record of the…

Q: On February 13, Epperson Company issued for cash 75,000 shares of no-par common stock (with a stated…

A: WORKING NOTE FOR AMOUNTS : $ FEB 13  CASH - 75,000 X 140 = 10,500,000 COMMON STOCK - 75,000 X 125 =…

Q: 1,000 shares of $10 par common stock at $56. If

A: As More than one question is asked I am providing you the answer for 1st question.

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: On February 13, Epperson Company issued for cash 75,000 shares of no-par common stock (with a stated…

A: Definition: Journal entry: Journal entry is a set of economic events that can be measured in…

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

A: Introduction: A stockholder is also referred to as a shareholder or an individual who owns at least…

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 320,000 shares of no-par…

A:

Q: Rodriguez Corporation issues 6,000 shares of its common stock for $95.300 cash on February 20.…

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

Q: Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per…

A: If common stock or preference stock is issued at premium then the journal entry comprises of credit…

Q: On June 1, Larkspur, Inc. issues 1,100 shares of no-par common stock at a cash price of $8 per…

A: Total amount received = No. of shares issued x Issue price per share = 1,100 shares x  $8 per share…

Q: Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20.…

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

Q: Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20.…

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

Q: Pronghorn Corp began operations on April 1 by issuing 52,200 shares of $4 par value common stock for…

A: Total amount received from issue of common stock = No. of common shares issued x Issue price per…

Q: On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 120,000 shares of no-par common…

A: Paid in capital is the capital which is received by the issuer in the exchange of issuing shares to…

Q: On May 23, Stoltz Realty Inc. issued for cash 111,000 shares of no-par common stock (with a stated…

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

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 240,000 shares of no-par…

A: Cash received on issue of Common stock = 240,000*$12 per share = $2,880,000 Cash received on issue…

Q: On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4)…

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

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.