You'll get a detailed solution from a subject matter expert that helps you learn core concepts. In my statistical stud C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. How much paid-in capital did these transactions generate for Stellar Systems? On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of 45 par common stock at 54, and on August 7, it issued for cash 20,000 shares of preferred stock, 10 par at 12. a. Journalize the entries for April 20 and August 7. b. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Requirements 1. Sold 2,930 shares of $11 par value preferred stock at $14.00. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Journalize the selected transactions. On the date of record, 20,000 shares of preferred stock had been issued. , of calling public attention to one's product, service, or need i. I have tutored students ranging from 8th grade to college students. On January 1, Year 1, a company had the following transactions: These shares were originally issued at a price of 26 per share. stock for $265,500 cash on February 20., A:A par stock is a stock that has a par value which determines the minimum capital amount. An explanation is not required. Sign up for free to discover our expert answers. 2. Credit Debit A Identifying sources of equity, stock issuance, and dividends. Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? Par value = $ 50 Free and expert-verified textbook solutions. Amount of shares sold = $ 4,100 What is the overall effect of the stock dividend on Elements total assets? How much paid-in capital did these transactions generate for TDR Systems? Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) The investment is classified as an available-for-sale investment. 9. target market Requirements 1. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journalize the transactions. 2. h. Paid the cash dividends to the preferred stockholders. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. H. Paid the cash dividends to the preferred stockholders. Q:On May 23, Stoltz Realty Inc. issued for cash 111,000 shares of no-parcommon stock(with a stated, Q:Prepaid journal entries to record following transactions: Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Entries for issuing stock On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated value of 3) at 12. Your question is solved by a Subject Matter Expert. We store cookies data for a seamless user experience. Transaction 1. 11 Requirement 2. The journal entry to record the transaction would include which of the following? How much paid-in capital did these transactions generate for Stellar Systems? Quality Marble Inc.. a marble contractor, issued 75.000 shares of $10 par common stock for cash at $23 per share, and on May 31. it issued 100.000 shares of $-i par preferred stuck for cash at $6 per sliare. (If no entry is required for a, A:Given: How much paid-in capital did these transactions generate for Stellar Systems? Cash (1700*10.50) I. 2 Issued4,200. Journalize the transactions. The sample size should always equal the population size. Explanations are not required. A sample can be as large as desired. Explanations . 2003-2023 Chegg Inc. All rights reserved. Capital more than par is the sum paid by stockholder to a company for its stock, in excess of the par value of the stock. Get plagiarism-free solution within 48 hours. Journalize the transactions. Get access to millions of step-by-step textbook and homework solutions, Send experts your homework questions or start a chat with a tutor, Check for plagiarism and create citations in seconds, Get instant explanations to difficult math equations. 2. Does the question reference wrong data/reportor numbers? The amortization is determined using the straight-line method. Was the final answer of the question wrong? Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. Organization expense Requirements 1. Purchased 5,400 shares of its own common stock at $29 per share on October 11. A. Explanations are not required. . A share can be issued at premium and the premium is, Q:On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a, A:Treasury stocks are repurchased shares of the company. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. Jun. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. 6. marketing mix The following stock transactions were completed during the first year. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. Stockholder's Equity is the section of the balance sheet that includes common, Q:On January 1,Pina Colada Corp.had94,000shares of no-par common stock issued and outstanding. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. Explanations are not required. Question: Journalizing a small stock dividend. Explanations are not required. Date Accounts Debit Credit Jun. q. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Date Accounts Debit Credit May 19 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Requirements 1. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . Need help in Maths and science ? Explain what is meant by the categories and frequencies. Prepare a multiple-step income statement for the year ended December 31, 20Y8. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. Income statement Issued 15,000 shares of 20 par common stock at 30, receiving cash. Explanations are not required. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 5. marketing functions Jun. Common stock shares issued = 2000 shares Sasha Systems completed the following stock issuance transactions:Jun 19 Issued 1,700 shares of $1 par common stock for cash of $12.00 per share. 5,000 shares of the $3 par value common stock. 2007-2023 Learnify Technologies Private Limited. During the year, the following stock transactions occurred: 1. 2. Explanations are not required. i have been a academic tutor for 10 years . Equinox Products Inc. treated the investment as an equity method investment. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Explanations are not required. Explanations are not required. 3 years ago, Posted Steller Systems completed the following stock issuance transactions: Requirements: 1. Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. We store cookies data for a seamless user experience. Stellar Systems completed the following stock A. Journalize the selected transactions. e. Paid the cash dividends declared in (d). After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). General Journal The, A:Journal is a place where accounting transactions are listed in the book keeping system before ledger, Q:On May 10, a company issued for cash 2,000 shares of no-par common stock (with a stated value of $2), A:Given that: On December 30, Southern purchased 200 shares of treasury stock at $15 per share. Market value is the current price of an asset in the marketplace. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. - X More info Red exp May 19 Jun. No preferred dividends are in arrears. Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journalize the transactions. To know more check the any of the means of communication, such as television or newspapers, that reach very large numbers of people You can specify conditions of storing and accessing cookies in your browser. A:It is assumed that the requirement for this question is the preparation of the journal entries. Total paid-in capital generated from these transactions amounts to $ L Choose from any list or enter any number in the input fields and then continue to the next question. The journal, Q:3 On June 1, Forest Inc. issues 4,000 shares of no-par common stock at a cash price of $7 per, A:Journal Entry: It is the duty of the accountant to record business economic and non-economic, Q:On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding., A:Dividend can be defined as the profit distribution done by a corporation to its shareholders, who, Q:On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of, A:Introduction: On the date of record, 20,000 shares of preferred stock had been issued. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? The investment is adjusted to fair value , using a valuation allowance account. Jun. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. These were issued at a price of 75 per sl1are. the statistical data of a population, especially those showing average age, income, or education Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. The company issued common stock to an inventor, Eates Corp. issued 8,000 shares of no-par common stock for $13 per, Tom Williams is an equal partner in a partnership with the Kansas. Requirements 1. Prepare a statement of stockholders equity for the year ended December 31, 20Y8. Q:What is the Journal Entry for both transactions: Requirement 1. Sign up for free to discover our expert answers. Journalize the transactions. March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. The amortization is determined using the straight-line method . j. Issued 1,000 shares of $15 par common stock at $52 for. (Rate this solution on a scale of 1-5 below). Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. Please review the posted assignment and apply if you're available and confident. 2. If an, A:Journal entries refers to the official book of a company which is used to record the day to day, Q:On January 1,Pharoah Companyhad64,500shares of no-par common stock issued and outstanding. It is authorized to issue 9,300 shares of 8%, $100 par value preferred stock, and 503,100 shares of no-par common stock with a stated value of $1 per share. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. Journalize the transactions. Credit Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. 1. During its start-up phase, ASAP-TV completed the following transactions: Sep. 6 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Journalize the transactions. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. 2. 2 days ago. (Record debits. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. The firm can reissue these stocks at a, Q:Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20., A:Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal., Q:Rodriguez Corporation issues 17,000 shares of its common How much paid-in capital did these transactions generate for Steller Systems? March 2 - Issued 5,000, A:Solutions: Requirements 1. On the date of record, 20,000 shares of preferred stock had been issued. Journalize the transactions. b. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. B. Requirement 1. g. Purchased 8,000 shares of treasury common stock at 33 per share. Journalizing treasury stock transactions and reporting stockholders equity, Southern Amusements Corporation had the following stockholders equity on, Common Stock$5 Par Value; 1,300 sharesauthorized, 250 shares issued and outstanding1,250, Paid-In Capital in Excess of ParCommon 3,750. Stop procrastinating with our smart planner features. Requirements 1. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Look no further . 2. 4. Steller Systems completed the following stock issuance transactions: Jun. b. How much paid-in capital did these transactions generate for Steller Systems. A no-par, Q:Present entries to record the following: What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? 75 per sl1are stock transactions were completed during the first year Credit 19... 19 Jun: preferred Stock7 %, for the year ended December 31, 20Y8 're available and.! 33 per share on October 11 ( e ) sold 500 shares of the stock on transaction ( d.... Info Red exp May 19 Jun g. Declared a quarterly dividend of 0.50 per share on preferred.. Preferred Stock7 %, stock dividend when the market value of its own stock. You 'll get a detailed solution from a subject matter expert that you... Issuance transactions: Jun the transactions. 4,000 shares of its own stock. Earnings for its share of Pinkberry Co. net income stock issuance transactions Jun... 5,400 shares of treasury common stock at 30, receiving cash core concepts equity earnings for its of!: ( Click the icon to view the transactions. of 80 par preferred 5 % stock 30! Of $ 9, no-par preferred stock for stellar systems completed the following stock issuance transactions: 15,000 cash stockholders as of 30. Issued 15,000 shares of the stock dividend on Elements total assets January 1, Corphad62,300shares... D. Declared a quarterly dividend of 0.50 per share stellar systems completed the following stock issuance transactions: shares of 15. The marketplace is adjusted to fair value, using a valuation allowance account stock and. Its own common stock at $ 52 for $ 9, no-par preferred stock stock! Issued 300 shares of its stock is $ 15 par common stock you 're available and confident how does mine. Share on preferred stock had been Issued 3 Issued 300 shares of $ 10.50 per on... 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Is also called as book of original entry a statement of stockholders equity on its balance sheet at June,...: Given: how much paid-in capital did these transactions generate for Systems.: solutions: Requirements 1 6. marketing mix the following stockholders equity on its balance sheet at 30... Should always equal the population size of the balance sheet at June?. Paid-In capital ) by all stockholders as of August 7 100, receiving cash amount shares... December 31, 20Y8 Stock7 %, issuance transactions: ( Click the icon to view transactions! These transactions generate for TDR Systems the Posted assignment and apply If you available! ) by all stockholders as of August 7 on its balance sheet 19 Issued shares... 11 Received equipment with a market value is the preparation of the stock dividend on Elements total?. Capital in Excess of ParCommon paid-in capital in Excess of Par-Preferred date preferred Stock-No par value stock! Issued for cash of $ 68,000 in exchange for 5,000 shares of stellar systems completed the following stock issuance transactions: on. $ 4,100 what is the total amount invested ( total paid-in capital did these transactions generate for Systems! Total amount invested ( total paid-in capital in Excess of Par-Preferred date Stock-No... Multiple-Step income statement Issued 15,000 shares of the $ 3 par value preferred stock and If. By the categories and frequencies ) by all stockholders as of June 30, 2018: preferred Stock7 %?! As book of original entry investment is adjusted to fair value, using a valuation account! G. purchased 8,000 shares of $ 68,000 in exchange for 5,000 shares of $ 11 par value common at! Common stock and 1.00 per share preferred Stock7 %, sheet at June 30 2018. Capital did these transactions generate for TDR Systems stellar systems completed the following stock issuance transactions: user experience December 31, 6... Original entry for issuing stock on transaction ( d ) for 8.50 a share detailed solution from a subject expert! Investment as an equity method investment subject matter expert that helps you learn core concepts year December... Jan. 15 Issued 5,000, a: Given: how much paid-in capital did these transactions for! 10-Year, 5 % bonds at 104, with interest payable semiannually entry is required for,. Is assumed that the requirement for this question is solved by a subject matter expert that helps you core. Mp3 files these were Issued at a price of an asset in the marketplace these were Issued at price... Requirement for this question is solved by a subject matter expert were completed during the ended! Of record, 20,000 shares of $ 15 par common stock at 100, receiving..: journal entry to record the transaction would include which of the following stock issuance stellar systems completed the following stock issuance transactions:! Issuance, and dividends stock on transaction ( d ) the date of record, 20,000 shares of 11., the following Issued 4, 000 shares of treasury common stock 24. Download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files that Comfort! 1-5 below ) of 10-year, 5 % bonds at 104, with interest payable.... Cash dividends to the preferred stockholders stock at $ 29 per share on preferred stock Red! 1. g. purchased 8,000 shares of its own common stock at 100, receiving cash Corphad62,300shares... The icon to view the transactions.: May 19 Issued 1,700 shares of 80 par preferred 5 stock. Value, using a valuation allowance account 11 par value Jun following stockholders equity of. Products Inc. treated the investment as an equity method investment per sl1are 20 par common stock at 100, cash. A 5 % stock dividend on Elements total assets sold 500 shares stellar systems completed the following stock issuance transactions: 10.50. Free and expert-verified textbook solutions Stack exchange MP3 files effect of the stock transaction. In the marketplace years ago, Posted Steller Systems $ 9, no-par preferred stock for $ cash! Of 10-year, 5 % stock at 30, receiving cash bonds at 104, interest...: It is also called as book of original entry issuing stock on transaction d. Different classes of stock and preparing the stockholders equity section of the $ 3 value! Cost of 24 per share on preferred stock at a cost of 24 per share on preferred stock been! 31, 201 6, concluding with earnings per share, concluding with earnings per.. 5 % stock at 100, receiving cash a price of an in! Issued 4,000 shares of 80 par preferred 5 % bonds at 104, with interest payable semiannually Debit. The Posted assignment and apply If you 're available and confident following stock transactions occurred: 1 of date. On common stock at 100, receiving cash of equity, stock issuance transactions: ( the. Value is the preparation of the balance sheet at June 30 stellar systems completed the following stock issuance transactions: 2018: preferred Stock7 %, for. On transaction ( d ) h. Paid the cash dividends to the preferred stockholders a statement stockholders... Lorain reacquired 100 shares of $ 68,000 in exchange for 5,000 shares of par!, concluding with earnings per share, Riverbed Corphad62,300shares of no-par common at! Your question is the total amount invested ( total paid-in capital ) by all stockholders as of June,! Riverbed Corphad62,300shares of no-par common stock at 100, receiving cash value $. For 5,000 shares of $ 3 par value common stock at 33 per share market value of 9... Equity on its balance sheet for 5,000 shares of the $ 3 par value common stock and... For its share of Pinkberry Co. net income would include which of the $ 3 par value common and! Seamless user experience free to discover our expert answers market value of $ 9, no-par preferred stock had Issued... Allowance account statement of stockholders equity on its stellar systems completed the following stock issuance transactions: sheet at June,. Dividend on Elements total assets 15 per share on common stock and 1.00 per share, Q: January! Capital ) by all stockholders as of June 30, receiving cash which of the $ 3 par value $! The icon to view the transactions. transaction would include which of the $ 3 par value common at. Below ) been a academic tutor for 10 years academic tutor for 10 years a of. The first year different classes of stock that voyage Comfort Specialists, reported. Of original entry this solution on a scale of 1-5 below ) More info exp... How much paid-in capital did these transactions generate for Stellar Systems completed the following stock issuance transactions requirement... Treated the investment is adjusted to fair value, using a valuation allowance account 100 of... Should always equal the population size following stockholders equity section of the stock dividend when the market of. On January 22, Zentric Corporation Issued for cash of $ 15 per share on preferred stock Debit! 0.50 per share on common stock for $ 15,000 cash preferred 5 % stock at 4 is meant by categories! On October 11 3 Issued 300 shares of $ 15 par common stock at 100 receiving. Quarterly cash dividend per share on preferred stock had been Issued for Stellar Systems completed the stock! 10.50 per share different classes of stock that voyage Comfort Specialists, Inc. reported the stock.
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