The Blue Sea Co. issued 1,000 ordinary shares. Instructions: Prepare the entry for the issuance under the following assumptions: a. The shares had a par value of $5 per share and were issued for a total of $48,000. b. The shares had a stated value of $5 per share and were issued for a total of $48,000. c. The shares had no par or stated value and were issued for a total of $48,000. d. The shares had a par value of $5 per share and were issued to attorneys for services during incorporation valued at $48,000. e. The shares had a par value of $5 per share and were issued for land worth $48,000.

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: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par…

A: Given, 1,000,000 common shares (stated value of $0.25) issued at $1.20 10,000 preferred shares (par…

Q: Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the…

A: Par value = At which the original price of shares are stated in the prospectus of issuing shares or…

Q: The accounts shown below appear on the December 31, 1997, trial balance of the SINSUAT Company…

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Q: Item No. 8 is based on the following information: sidsy69 2970 000,001 9 Whistleblow, Inc. issued…

A: The shares issued for legal expenses or other payments, with lower par value, leads to increase…

Q: Riverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value…

A: Journal entries refer to the process of systematic documentation of the financial transactions of a…

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: MJH Company issued 50 shares of stock with a par value of $10 per share for $12 a share.  The entry…

A: MJH Company  Issued 50 shares of stock with a par value of $10 per share for $12 a share.

Q: When a company issues 36,000 shares of $4 par value common stock for $40 per share, the journal…

A: The journal entry of share issuance requires a debit to cash account and credit to share capital…

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

A: Common Stock - Common Stock is the stock issued to the public for raising capital. This recorded in…

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A: Journal entries are defined as recording of the business transactions into the books of accounts of…

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 June 1, Noonan Inc. issues 3,550 shares of no-par common stock at a cash price of $9 per share.…

A: All the transactions of an entity are properly accounted by making corresponding journal entries in…

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: Thomas Company is issuing 4 000 ordinary shares, payable by instalments. Investors must pay $10 per…

A: option c Debit cash, Credit Ordinary Share Capital

Q: Skysong Inc. issues  500 shares of $ 10 par value common stock and  100 shares of $ 100 par value…

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

Q: 3. ABC Corporation is authorized to issue 80,000 ordinary shares. During the current year, the…

A: (a) Paid in capital in excess of par per share = 20 - 5 = 15 per shares

Q: Ivanhoe Corporation issued 341 shares of $10 par value common stock and 145 shares of $50 par value…

A: Journal entry to record the issuance:: Cash account Dr::$19188...      To Common stock…

Q: Coronado Industries has issued 1,500 shares of common stock and 300 shares of preferred stock for a…

A: The issue price of the stock could be issued at par, premium or discount. If the proceed from…

Q: Whispering Winds Corp. issued 2,800 shares of stock. Prepare the entry for the issuance under the…

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

Q: Evon, a limited liability company, issued 1,000,000 ordinary shares of 25 cents each at a price of…

A: We have the following information: Issued 1,000,000 ordinary shares of 25 cents each Issue $1.10…

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

A: A par value stock is a type of common or preferred stock having a nominal amount (known as par…

Q: Sheridan Corporation issued 335 shares of $10 par value common stock and 103 shares of $50 par value…

A: Given information is: Common stock shares = 335 shares  Preferred Stock shares = 103 shares

Q: Patience Co. was authorized to issue 400,000 ordinary shares with a stated value of P20.   The…

A: Share capital is considered as the portion of capital that is arisen from the investors. When an…

Q: The Sneed Corporation issues 11,100 shares of $54 par preferred stock for cash at $62 per share. The…

A: The company can raise funds from different sources like by issuing common stock, issuing preferred…

Q: Sunland Company has issued 1,900 shares of common stock and 380 shares of preferred stock for a lump…

A: Stocks are issued at fair value. But, they should record as “par value for share capital” and…

Q: (a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (b) The…

A: A journal entry is a record of a company's business activity that is retained in the company's…

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par…

A: a.

Q: MJH Company issued 75 shares of stock with a par value of $5 per share for $7 a share.  The entry to…

A: Common stock, cash and paid in capital in excess of par accounts would be used to record the issued…

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: ABC Corporation issues 5,000 ordinary shares with a $50 par value for cash at $55 per share. The…

A: At the time of issue of shares, any amount received over and above par value of shares is known as…

Q: Bramble Corporation issued 2,000 shares of stock.Prepare the entry for the issuance under the…

A: No. Account Titles and explanation Debit Credit a. Cash $52,500     Common…

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: 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: MJH Company issued 1000 shares of stock with a stated value of $10 per share for $17,000.  The entry…

A: Issue of common stock is very important source of raising money from public. When stock is issued at…

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: Nebraska Inc. issues 2,300 shares of common stock for $73,600. The stock has a stated value of $12…

A: Given that issued common stock = 2300 shares stated value = $12 per share

Q: During its first year of operations, Flounder Corporation had the following transactions pertaining…

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

Q: Sheridan Company issued 2,850 shares of common stock. Prepare the entry for the issuance under the…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: BFAR Corp. was formed on June 1 with 100,000 authorized shares having a par value of P20. The…

A: when company issue share capital and shares to the shareholders there received application allotment…

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: Sage Corporation issued 392 shares of $10 par value common stock and 128 shares of $50 par value…

A: Under proportionate method, the lump sum amount has to be allocated between common stock and…

Q: The par value of the preferred is $50. During the first year of operations, the company had the…

A: Journal Entry  Date Account Title Debit Credit Feb 1 Cash (46,500 ×$53) $2,464,500…

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: During its first year of operations, Blue Spruce Corp. had these transactions pertaining to its…

A: The stock in which shareholders are entitled to received dividend whose amount may vary from time to…

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

Q: Marcy Company had 30,000 shares of common stock at the beginning of the year. On July 1, it issued…

A: Formulas: Weighted average number of shares = Actual shares out standing * Fraction of year…

Q: hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the…

A: SOLUTION- SHARES MEANS A COMPANY'S CAPITAL IS DIVIDED IN TO SMALL UNITS OF A FINITE NUMBER .EACH…

Q: Worldwide Company was authorized to issue 10,000 preference shares of $200 par value and 10,000…

A: Answer and calculations are given below

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.