A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

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Answer 1

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Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

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Prepare the journal entry to record Autumn Company's issuance of 71,000 shares of no-par value common stock assuming the shares: a. Sell for $34 cash per share. b. Are exchanged for land valued at $2,414,000. View transaction list Journal entry worksheet 1 Record the issuance of 71,000 shares of no-par value common stock assuming the shares sell for $34 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >

Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. View transaction list Journal entry worksheet 1 > Record the issuance of 63,000 shares of no-par value common stock assuming the shares sell for $29 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a.

Prepare the journal entry to record Autumn Company’s issuance of 63,000 shares of no-par value common stock assuming the shares a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000.

Answer 2

Question

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

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Answer 3

Question

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

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Answer 4

Question

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

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Answer 5

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

Answer 6

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

Answer 7

Chapter 11, Problem 4QS

a

To determine

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

Answer 8

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

Answer 9

b

To determine

Introduction: If the shares are issued by an organization against acquiring an asset (other than cash), in such cases, the asset acquired by the organization is recorded at its market value. This market value is considered for the date on which such a transaction takes place. The stock is recorded at par or stated value in such a case.

The journal entry to record ACompany’s issuance of 63,000 shares for exchange of land valued at $1,827,000.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 11 - Prob. 1MCQ Ch. 11 - Prob. 2MCQ Ch. 11 - Prob. 3MCQ Ch. 11 - Prob. 4MCQ Ch. 11 - Prob. 5MCQ Ch. 11 - Prob. 1DQ Ch. 11 - Prob. 2DQ Ch. 11 - Prob. 3DQ Ch. 11 - Prob. 4DQ Ch. 11 - Prob. 5DQ

A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

Solution Summary: The author explains that a corporation may issue shares at par or at the price more than the par value, but the issuance of common stock affects only paid-in capital and capital account.

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Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

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Chapter 11 Solutions

A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

Solution Summary: The author explains that a corporation may issue shares at par or at the price more than the par value, but the issuance of common stock affects only paid-in capital and capital account.

Concept explainers

Videos

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account. The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.

Want to see the full answer?

Chapter 11 Solutions

Introduction: A corporation may issue shares at par or at the price more than the par value, the issuance of a common stock affects only paid-in capital and capital account.

The journal entry to record A Company’s issuance of 63,000 shares at $29 per share.