Prepare the journal entry to record Jevonte Company’s issuance of 36,000 shares of its common stock assuming the shares have a a. $2 par value and sell for $18 cash per share. b. $2 stated value and sell for $18 cash per share.

Q: Oriole Company has issued 2,500 shares of common stock and 500 shares of preferred stock for a lump…

A: Common stock and Preference stock are two types of stock or shares that is being issued by the…

Q: Sneed Corporation issues 13,300 shares of $46 par preferred stock for cash at $61 per share. The…

A: Whenever the preferred stock shares are issued at premium i.e above their par value, the par value…

Q: The Sneed Corporation issues 10,900 shares of $49 par preferred stock for cash at $63 per share. The…

A: Share capital: It refers to the cap[ital raised by the company by issuing common stock or preferred…

Q: Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value…

A: For no par value shares issued, there is no discount or premium is recorded as the par value for the…

Q: The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share.…

A: Paid in capital in excess of par = (Issue price per share - Face value per share) x No. of shares =…

Q: Q. question 4

A: Prepare entry for reselling the shares.

Q: Which of the following would be included in the entry to record the issuance of 7,000 shares of $4…

A: The firm can raise funds for the operation of the business. It can be from issuing common stock,…

Q: The balance sheet caption for common stock is:  Common stock, $10 par value, 7,000,000 shares…

A: We have the following information: Common Stock par value: $10 Shares Authorized: 7,000,000 Shares…

Q: (a) Prepare the journal entry for the issuance assuming the par value of the common stock was $5 and…

A:

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: Record each of the following transactions for the Toyota Corporation in general journal form.…

A: Preferred stocks are those stocks for which dividend is paid before other stocks. The preferred…

Q: Sneed Corporation issues 11,600 shares of $45 par preferred stock for cash at $67 per share. The…

A: Total par value of preferred stock issued = No. of shares issued x par value per share = 11,600…

Q: Concord, Inc. issued 9800 shares of stock at a stated value of $7/share. The total issue of stock…

A: Given, Stated value = $7 per share Issue price = $12 per share Number of shares issued = 9,800…

Q: Assume that on February 12, First Union Co. purchases for cash 6,000 shares of Gilbert Co. stock at…

A: Total deividend received = No. of shares x Dividend per share = 6,000 shares x $0.42 per share =…

Q: On December 12, ABC Company purchased 1,000 shares of its $2 par value common stock for $27 each. On…

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

Q: Swifty Corporation's balance sheet reported the following: Capital stock outstanding, 4,500 shares,…

A: Journal entry refers to the recording of daily transactions of an organization. It has a credit and…

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: Prepare the journal entry to record Zende Company’s issuance of 75,000 shares of $5 par value common…

A: When a company issues common stock, it can issue the stock at par value or more than par value or…

Q: The Snow Corporation issues 9,900 shares of $54 par value preferred stock for cash at $62 per share.…

A: Whenever the preferred stock shares are issued at premium i.e above their par value, the par value…

Q: On January 1, Concord Corporation had 172000 shares of $10 par value common stock outstanding. On…

A: The process of recording business transactions in the books of accounts for the first time is…

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

A: Journal entries       Date…

Q: Prepare the journal entry to record Autumn Company’s issuance of 63,000 shares of no-par value…

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

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: 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: 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: On January 1, Swifty Corporation had 71000 shares of $10 par value common stock outstanding. On June…

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

Q: Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal…

A: Cash (10,000 x $25) 250,000     Common Stock (10,000 x $2)   20,000   Additional Paid-in Capital…

Q: Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was…

A: Shares are a mean of raising capital from the shareholders. Shares can be ordinary shares or…

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: A company issued 60 shares of $100 par value common stock for $7,900 cash. The journal entry to…

A: Journal entry is the recording of financial transactions by using the dual entity concept in which…

Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…

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

Q: Q. question 1

A: Paid-in capital in excess of par value: This is the total of stock capital contributed by investors…

Q: The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share.…

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

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: 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: 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: Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common…

A: If the common stock is issued for more than the par value, the excess amount goes to the Paid-in…

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: 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: Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common…

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

Q: Q. question 3

A: Journal Entry: A journal entry is a systematic record of the business transactions in a…

Q: Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share.…

A: Definition:

Q: Sneed Corporation issues 11,700 shares of $55 par preferred stock for cash at $60 per share. The…

A: Stocks: Stocks are shares in the ownership of the company. It represents the capital raised by a…

Q: Taylor Corporation issues 20,000 shares of $50 par value preferred stock for cash at $90 per share.…

A: Issue price of preferred stock=Number of Shares×Issue price=20,000×$90=$1,800,000

Q: The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30…

A: Common stock (shares)=$706,500$15=47,100 shares

Q: Pina Colada Inc. issues 4,650 shares of $100 par value preferred stock for cash at $145 per share.…

A: Paid in capital in excess of stated value = (Issue value per share - Stated value per share) x No.…

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.