Prepare the journal entries for the following transactions for Batson Co. Sept. 1 Batson Co. purchased 1,200 shares of the total of 100,000 outstanding shares of Michael Corp. stock for $20.75 per share plus a $70 commission. Dec. 31 Michael Corp.’s total earnings for the period are $84,000.         31 Michael Corp.’s paid a total of $40,000 in cash dividends to shareholders of record.

Q: Eidman Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash…

A: A dividend is the distribution of some of a company's earnings to a class of its shareholders, as…

Q: Instructions: prepare the journal entries on above transactions.

A: Calculation of Dividend Paid :- Shares outstanding at the beginning 60000 Add : New issue…

Q: On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November…

A: sometime companies purchase share of their own stock from other stock holder of the company. such…

Q: During its first year of operations, Cullumber Company had the following transactions pertaining to…

A: Total cash received on Jan. 10 = No. of shares issued x pr value per share = 65000 x $5 = $325,000

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

A: What is meant by Journal entries? It is the first step to record the financial transactions in the…

Q: On January 1, 20X1, Browning Corporation had 75,000 shares of $1 par value common stock issued and…

A: We have the following information: On January 1 20X1: Browning Corporation had 75,000 shares of $1…

Q: Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year,…

A: a.  Journalize the transactions of May 14, September 6, and November 30:   Date Accounts title…

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: Oriole Company had the following transactions during the current period. Mar. 2   Issued 4,200…

A: Journal entry is an activity of record keeping of economic or non- economic transactions in thr…

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

A: SOLUTION- JOURNAL ENTRIES-IT IS KEEPING OR MAKING RECORDS OF ANY TRANSACTION EITHER ITS IS ECONOMIC…

Q: Tamarisk, Inc. had the following transactions during the current period. Issued 4,900 shares of $5…

A: Treasury Stock:  Treasury Stock is the term that is used to describe shares of a company’s own stock…

Q: 1. Prepare the journal entries for the following transactions for Dundar Mifflin: • Dundar Mifflin…

A: A journal entry is used to record business transactions at a point of time.It follows double entry…

Q: Bernard Corporation has the following shares outstanding: 8,000 shares of $50 par value, six percent…

A: Dividend on common stock = no. of shares x Dividend per share = 50,000 shares x $2.20 per share =…

Q: Metlock, Inc. had the following transactions during the current period. Mar. 2   Issued 4,800…

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

Q: Maxwell had the following transactions pertaining to its ordinary shares during the first year of…

A: Here in this case, we are required to make journal entry for issue if share. Company issue shares to…

Q: On January 31, Wilderness Resorts Inc. reacquired 24,300 shares of its common stock at $31 per…

A: Journal entries are prepared to record the financial and non-financial transactions of the business…

Q: The following selected transactions occurred for Corner Corporation:   Feb. 1   Purchased 420…

A: Journal entries represent the starting point in the accounting cycle, they are used to record every…

Q: On May 20, the board of directors for Auction.com declared a cash dividend of 50 cents per…

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

Q: Prepare the journal entries for the following transactions for Morgan Co. July 1 Morgan Co.…

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

Q: Bramble Corp.'s balance sheet reported the following: Capital stock outstanding, 5,000 shares, par…

A: The treasury stock is the purchase of its own share by the company.

Q: On April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 55…

A: Dividend amount = No. of shares outstanding x Dividend per share  = 107,000 shares  x 0.55 = 58,850…

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

A: The own shares purchased are known are treasury stock. Treasury stock shall be debited when its own…

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

A: ANSWER       Selected transactions completed by Equinox Products Inc. during the fiscal year ended…

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

A: Definition: Journal: Journal is the method of recording monetary business transactions in…

Q: At the beginning of the year, a company has issued a total of 500,000 shares of common stock,…

A: Introduction: Retained earnings: Retained earnings refer to the income residing in the business…

Q: Divine Apparel has 4,000 shares of common stock outstanding. On October 1, the company declares a…

A: Amount of dividend = No. of shares x dividend per share = 4,000 shares x $0.75 per share = $3,000

Q: Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year,…

A: a.

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

A: a.

Q: Prepare journal entries to record the following transactions and events of Kodax Company. Year 1…

A: Journal entries: A journal entry is a record of the business transactions in the accounting books of…

Q: Crane Company's balance sheet reported the following: Capital stock outstanding, 4,000 shares, par…

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

Q: Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year,…

A:

Q: Sheffield Corp. has 84,000 shares of common stock outstanding. It declares a $1 per share cash…

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

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

A: SOLUTION- JOURNAL ENTRIES-  IT IS A SIMPLY A SUMMARY OF DEBITS AND CREDITS OF THE TRANSACTION ENTRY…

Q: 28. On March 1, Year 1, Chase Inc. purchases 35% of the outstanding shares of Glory Corporation…

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

Q: The Adam Corporation had the following transactions during the year: Jan. 15 Purchased 1,500 shares…

A: Date Particulars Debit Amount Credit Amount Jan 15 Equity share of LMN stock a/c…

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

A: Journal entries are the transactions that are recorded in the primary book. They are chronological…

Q: Spring Company is authorized to issue 7500,000 shares of $2 par value common stock. In its first…

A: Journal entry is defined as the book of accounts which records or maintain the transactions of the…

Q: Monsoon Company carried out the following transactions related to its common and preferred shares.…

A: Preference shares, also known as preferred stock, are securities that pay dividends to owners before…

Q: Show the effects of each transaction on the accounting equation. Give the indicated journal entries…

A: 1.

Q: Prepare the journal entries for the following transactions for Morgan Co. July    1 Morgan Co.…

A: Given that  morgan co. purchased 32000 shares of Gordon corp.stock Total earnings = $80000 cash…

Q: Concord Co. had the following transactions during the current period. Issued 4,200 shares of $5 par…

A: 1. Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first…

A: Authorized share capital means the share capital which is the company is legally authorized to…

Q: On March 1, Year 1, Chase Inc. purchases 35% of the outstanding shares of Glory Corporation stock…

A: Given: Chase Inc purchased 35% of Glory Corporation for $325,000 Net income = $162,000 Dividend =…

Q: D Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600…

A: Answer

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

A: Journal: Journal is the primary books of accounts. Transactions are recorded on it day-to-day basis.…

Q: ortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first…

A: When shares of the company are issued at a value more than par value, then it means shares are…

Q: Metlock, Inc. had the following transactions during the current period. Mar. 2   Issued 4,200…

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.