Prepare the following journal entries   issued 2,000 shares of common stock, $ 1 par value at an issue price of $ 12.00.     The board of directors declared a $ .25 cents per share dividend on the 10,000 common shares outstanding.

Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to recordthe…

A: There are two type of stock or shares that are being issued by the company for raising of funds from…

Q: Montana Company was authorized to issue 80,000 shares of common stock. The company had issued 27,000…

A: Calculate the number of shares outstanding as follows: Outstanding shares = Issued shares - Treasury…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: The shares issued at the higher amount as compared to par value are the shares issued at premium.…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

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: On May 10, Bramble Corp. issues 1,200 shares of $7 par value common stock for cash at $12 per share.…

A: Journal: Recording of a business transactions in a chronological order.

Q: The Watermelon Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: 1. Stock Dividend: In this Dividend company issue additional shares to the existing shareholders…

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

A: Date Account Titles and Explanatiion Debit $ Credit $ Feb. 1 Cash (19500*57) 1111500…

Q: Please help

A: a) Journal Entries:   Date  Account Journal Debit $ Credit $ Jan 10 Cash 104,000     Common…

Q: On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000…

A: Preferred stock runs more like a bond than regular stock. Preferred stock dividend yields are…

Q: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

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

Q: On June 1, a board of directors declared a $3 per share cash dividend, payable on June 30 to all…

A: Total amount of dividend = No. of shares issued and outstanding x dividend per sahre = (1000 shares…

Q: Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20.…

A: Lets understand the basics. Stated value or par value is a value which is assign to corporation's…

Q: On January 1, Larkspur, Inc. had 93,000 shares of no-par common stock issued and outstanding. The…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Q: Cullumber Company issues 7,000 shares of $100 par value preferred stock for cash at $103 per share.…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

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: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: On May 10, Blue Spruce Corporation issues 3,050 shares of $10 par value common stock for cash at $20…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

Q: Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:  66,000…

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

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: Our Business Issued 10,000 shares of $1 Par value common stock for a total of $50,000, The Journal…

A: Common stock is issued for raising capital for the company. Other than common stock, the company…

Q: Green Thumb, Inc. had 18,000 shares of common stock outstanding on January 1. An additional 6,000…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: If Common Stock is $10 par value , 140,000 shares are authorized, and 60,000 shares , if the…

A: Cash dividend payable = $2 x 60,000 = $120,000

Q: Inside Incorporated was issued a charter on January 15 authorizing the following capital stock:…

A: Stockholders' equity refers  to the resources staying in a business once all liabilities have been…

Q: Prepare the journal entry to record Jevonte Company’s issuance of 36,000 shares of its common stock…

A: Journal entry:   It is a systematic record of a financial transaction of an organization recorded in…

Q: On July 1, a board of directors declared a $3 per share cash dividend, payable on July 31 to all…

A: Dividend declared would be paid on no. of outstanding shares only.

Q: Journalize the issuance of the stock

A: Stocks (Common Stock and Preferred Stock):   There are two types of the share capital of a company.…

Q: What is the Journal Entry for both transactions: ABC received $300,000 in cash for issuing 10,000…

A: Please find the answers to the above questions below:

Q: Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11…

A: The journal entry for stock issuance is represented as: Cash…

Q: On January 1, 20X1, Wooden Company issued 16,000 shares of $2 par value common stock for $120,000.…

A: Lets understand the basics. Treasury shares are shares which are purchased back by the company after…

Q: When a company issues 27,000 shares of $5 par value common stock for $50 per share, the journal…

A: When shares  are issued  Cash will be received. Thus cash should be debited.

Q: Hi-C Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On December…

A: The Company has $1,000,000 shares of 10%, $ 20 Par Value Preferred Stock outstanding. On December…

Q: Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock…

A: Solution: When common stock are issued for cash, cash is debited for issue price and common stock is…

Q: Blossom Company had these transactions during the current period. June 12   Issued 82,000 shares…

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

Q: The company was organized on January 1, Year 1. The firm was authorized to issue 500,000 shares of…

A: The dividend is paid to the shareholders from the retained earnings of the business. The treasury…

Q: Larkspur, Inc. issues 7,600 shares of $108 par value preferred stock for cash at $116 per share.…

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

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Journal is the book where transactions are originally recorded. Further, a journal entry is used to…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 86,000 shares…

A:

Q: Nelson Corporation issued 9,000 shares of ​$3 stated value common stock for ​$11 per share on July…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

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

A: Preferred stock is another source of funds for an organization other than common stock. Preference…

Q: Nebraska Inc. issues 2,750 shares of common stock for $88,000. The stock has a stated value of $20…

A: When common stock is issued above par/stated value then the journal entry comprises of debit of cash…

Q: Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per…

A: Common stock refers to the security that represents ownership of the stockholders in the company.…

Q: Mt. Everst Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: 4% Stock Dividend is recorded using the market price of the stock as of the date of stock dividends…

Q: Inside Incorporated was issued a charter on January 15 authorizing the following capital stock:…

A: Any excess cash other than the par value received from the issue of shares goes to Paid-in Capital…

Q: Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a stated value of $10…

A: When shares has no face value but are having a stated value then common stock account should be…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: When an event occurs in the business and it can be measured and expressed in terms of money, it…

Q: The charter of Dogwood Corporation authorizes the issuance of 1,000 shares of preferred stock and…

A: Any amount received in excess of par value of a share is known as paid-in capital in Excess of Par.…

Q: Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20.…

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

Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the…

A: A Journal is made to record all the business transactions in chronological order. It is the first…