On June 1, Tamarisk, Inc. issues 2,900 shares of no-par common stock at a cash price of $5 per share.Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1 enter an account title enter a debit amount enter a credit amount   enter an account title

Q: Cullumber Company has 40,000 shares of $10 par value common stock outstanding. It declares a 10%…

A: Cucumber company's Common stock outstanding = 40000 shares Par value = $10 Total par value of shares…

Q: Sunland Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 800…

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: A journal entry is used to record the day-to-day transactions of an organization by debiting and…

Q: Blossom Company had these transactions during the current period. June 12   Issued 83,500 shares…

A: Date Account Titles and Explanations Debit Credit June 12 Cash  $313,125…

Q: Sheffield Inc. has outstanding 13,100 shares of $10 par value common stock. On July 1, 2020,…

A: Treasury shares means the share which has been buy back by the company . It will be shown as…

Q: Novak Corp. is authorized to issue both preferred and common stock. The par value of the preferred…

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

Q: On May 1, Splish Brothers Corporation purchased 3.200 shares of its $10 par value common stock at a…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: On July 1, Sage Hill Inc. purchases 600 shares of its $5 par value common stock for the treasury at…

A: Total cash paid = No. of shares purchases x Price per share = 600*$8 = $4,800

Q: On 2/1, Curly's Hair Supply purchased 11,000 shares of treasury stock at $4 per share. On 11/1,…

A: Treasury stock is stock repurchased by the issuer and intended for retirement or resale to the…

Q: Bramble Corporation has 47,500 shares of $12 par value common stock outstanding. It declares a 15%…

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per share.…

A: Cash received will be = 8600*112 =$963,200 Preferred stock will be = 8600*106 = $911,600 Paid in…

Q: Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other…

A: Number of shares outstanding = 90,000 Current market value of 1 common stock = $22 Stock dividend…

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: Dividend declared and paid: The majority of dividends are cash dividends, which are distributions…

Q: On June 1, Marin Inc. issues 3,400 shares of no-par common stock at a cash price of $9 per share.…

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

Q: On June 1, Pronghorn Inc. issues 3,200 shares of no-par common stock at a cash price of $8 per…

A: Being to record issue of common stock

Q: Splish Brothers Inc. Issues 8,200 shares of $104 par value preferred stock for cash at $118 per…

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

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: On May 10, Martinez Corp. issues 1,800 shares of $4 par value common stock for cash at $15 per…

A: The details regarding transaction is given. Required  Journal Entry.

Q: Windsor, Inc. issues 9,600 shares of $102 par value preferred stock for cash at $115 per…

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

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: First, compute the cash dividends as shown below: Cash dividends = 6,700*$2 Cash dividends = $13,400…

Q: Waterway Corporation has 41,500 shares of $10 par value common stock outstanding. It declares a 15%…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Chetola Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15%…

A: Stock dividend = 120,000*15% Stock dividend = 18,000 shares

Q: On July 1, Larkspur, Inc. purchases 560 shares of its $5 par value common stock for the treasury at…

A: On July 1, Larkspur Inc.'s Purchased 560 shares of common stock for the treasury. Par value = $5 per…

Q: Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a…

A: Total amount of dividend declared = No. of shares x dividend per share =3800*$0.25 = $950

Q: Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues…

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

Q: On February 1, 2020, Kingbird Corporation issued 3,900 shares of its $5 par value common stock for…

A: No. of shares issued = 3900 shares  per share value = $ 5 par value  Total value of common stock =…

Q: Q. question 2

A: Issued stock:Issued stock is the shares of a company that has been distributed to investors. These…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Common Stock, Preference stock and Bonds all are sources of finance used by the company for raising…

Q: Divine Apparel has 2,700 shares of common stock outstanding. On October 1, the company declares a…

A: Dividends are the distribution of earnings by a company to its stakeholders. It is always paid based…

Q: Please help

A: Cash = Number of shares * Issue price = 2100 * $14 = $29,400 Common stock value = Number of shares *…

Q: Delta Corporation issued 10,000 shares of no-par common stock for $1 per share on July 13. Record…

A: Answer:-  Common stock meaning:- A security that symbolizes ownership in a firm is known as common…

Q: a. Journalize the entries for October 31 and November 19. Refer to the chart of accounts for the…

A: The journal entry is given as,

Q: On February 1, Windsor Company purchased 1,300 shares (2% 8whership) March 20, Windsor Company sold…

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

Q: 1. Homework Chapter 10

A: Dividends:This is the amount of cash distributed to stockholders by a company out its earnings,…

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

A: Journal entries: A journal entry is recorded for every business transaction. It is the first step in…

Q: Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other…

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

Q: On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per…

A: Given: No. of shares issued = 4000 Stated value per share = $1 Issue price per share $6 Amount of…

Q: Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1,…

A: For running any business or company , we need to have long term sources of funds so that business…

Q: Sunland Corporation issued 310 shares of $10 par value common stock for $4,650. Prepare Sunland’s…

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

Q: On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share.…

A: Cash will be = 1000*11 = 11,000 Capital = 1000*4 =4000 Excess of capital = 11,000 - 4000=7000

Q: On May 1, Carla Vista Corporation purchased 2,800 shares of its $10 par value common stock at a cash…

A: A systematic way to record all the business transactions is referred to as a journal entry, this…

Q: Clothing Frontiers began operations on January 1 and engages in the following transactions during…

A: Share issue refers to issue of new share for cash.

Q: On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share.…

A: Cash value will be = Number of shares * Cash price Cash value will be = 1,300 *8 Cash value will be…

Q: On May 10, Skysong, Inc. issues 2,200 shares of $5 par value common stock for cash at $15 per share.…

A: We need to debit cash since it is an asset and credit common stock to extent of par value($5) and…

Q: Pronghorn Corp purchased 2,100 shares of its $10 par value common stock for $79,800 on August 1. It…

A: Definition:   Treasury stock: The shares which were reacquired or bought back by the company, but…

Q: On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per…

A: Calculation of cash received:.  Calculation of amount common stock issued:  Calculation of amount…

Q: Darlington Inc., permits any of its employees to buy shares directly from the company. There are no…

A: Recruiting fees, wages, payroll taxes, pensions, and incentives are all part of the compensation…

Q: Pronghorn Inc. issues 4,700 shares of $110 par value preferred stock for cash at $135 per…

A: Account Titles and Explanation Debit Credit Cash (4700*135) $634,500              Preferred…

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.