Issued 15,000 shares of 20 par common stock at 30, receiving cash. Explanations are not required. Journalize the transactions. 94% of StudySmarter users get better grades. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. General Journal 11. 4. How much paid-in capital did these transactions generate for Stellar Systems? 3. marketing a. 2. Date Accounts Debit Credit Jun. The. The, A:Introduction: i have been a academic tutor for 10 years . Journalize the transactions. 9. Prepare a multiple-step income statement for the year ended December 31, 20Y8. s. The fair value for Solstice Corp. stock was 39. Everything you need for your studies in one place. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. How is it supposed to be related to inflation? (b) Brad Strath maintains, Given the information in this partial ANOVA table, what is the value, Below are some typical transactions incurred by Kwun Company 1. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Compute Rockets price/earnings ratio. Explanations are not required. (Record debits. 5,000 shares of the $3 par value common stock. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Debit 4 Explain. 3: Issued 300 shares of $9, no-par preferred stock for $15,000 cash. The amortization is determined using the straight-line method. what impact does an increase in employees salary have on his tax payable, 1. advertising A sample is always larger than the population. What is the price/earnings ratio, and how is it calculated? A. Journalize the transactions. During the year, the following stock transactions occurred: 1. Journalize the transactions. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Par value = $ 50 Requirements 1. 4. marketing concept 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: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: a. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Your question is solved by a Subject Matter Expert. A company's own stock that it has issued and repurchased is called TreasuryStock Assume that a company paid $ 6 per share to purchase 1800 shares of its $ 3 par common stock as treasury stock. Explanations are not required. one year ago, Posted May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. any of the means of communication, such as television or newspapers, that reach very large numbers of people b. After 13 years of working with students across the country, we have the experience and knowledge to provide the best possible academic support for your academics. Journals: Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. 9. target market A no-par, Q:Present entries to record the following: 5. marketing functions m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). Element distributes a 5% stock dividend when the market value of its stock is $15 per share. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: Journalize the transactions. 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. ( Round earnings per share to the nearest cent.) Journalize the transactions. Requirement 1 Jaurnalize the transactions. It is used to record a financial, Q:January 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at. Stop procrastinating with our smart planner features. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Journalize the entries to record the January 22, February 14, and August 30 transactions. Experts are tested by Chegg as specialists in their subject area. Mar. Journalize the transactions. 3. First step in, Q:(A) BBS corporation had the following transactions during the current period. Jones Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. The investment is adjusted to fair value , using a valuation allowance account. B. 3 Jun. Jun. Assume that there are no changes in common shares outstanding during 2018. Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. 11. Requirements 1. Issuing par stock On January 29. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. A:It is assumed that the requirement for this question is the preparation of the journal entries. 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. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Organization expense On the date of record, 20,000 shares of preferred stock had been issued. Explanations are not required. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Unless otherwise stated, assume a December 31 balance after adjusting entries. e. Paid the cash dividends declared in (d). B. Issued 1,700 shares on premium of $7.5, 300 shares for $15,000, and 5,000 shares in exchange of $68,000 equipment on premium of $53,000. Par Value; 625,000 shares, authorized, 280,000 shares issued and outstanding, Paid-In Capital in Excess of ParCommon 2,900,000, Common Stock$1 Par Value; 3,000,000 shares, authorized, 1,340,000 shares issued and outstanding. 8. mass media Submit your documents and get free Plagiarism report, Your solution is just a click away! 1. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. Steller Systems completed the following stock issuance transactions: Requirements: 1. 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. B. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. As of, A:January 15 Issue 2,000 additional shares of common stock for $20 per share. D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 2. Get it solved from our top experts within 48hrs! Best study tips and tricks for your exams. 2. y, I used a sample that was larger than the population. View this solution and millions of others when you join today! Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Everything you need for your studies in one place. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. 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. Market value also alludes to the market capitalization of a publicly traded corporation. We store cookies data for a seamless user experience. On January 1, Year 1, a company had the following transactions: The sample size should always equal the population size. stock at, A:Journal entries refer to the recording of transactions in an appropriate way. All rights reserved. Requirements 1. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. These shares were originally issued at a price of 26 per share. Transaction The data that follow were taken from the records of Equinox Products Inc. You can specify conditions of storing and accessing cookies in your browser. 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 ? 94000 shares +, Q:Prepare the following journal entries Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. An explanation is not required. of outstanding shares. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. General Journal How much paid-in capital did these transactions generate for Steller Systems. The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Common stock shares = $ 5,600 Effect: This transaction, Q:On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. To know more check the I love working with students and seeing them improve on and grasp concepts! 2. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. yesterday, Posted i. contact me so i can help you . Requirement 1. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. A:The journal entries are prepared to keep the record of day to day transactions of the business. Requirements 1. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock May Ma Print Done. Prepare the stockholders equity section of the ASAP-TV balance sheet atSeptember 30, 2018, assuming ASAP-TV, Inc. had net income of $38,000 for the month. 2. Computing earnings per share and price/earnings ratio. Explanations are not required. How much paid-in capital did these transactions generate for Steller Systems? (If no entry is required for a, A:Given: To know more check the Explanations are not required. How much paid-in capital did these transactions generate for Stellar Systems? Was the final answer of the question wrong? 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. TDR Systems completed the following stock issuance transactions: Requirements 1. Journalize the transactions. No preferred dividends are in arrears. Q:6. Requirement 1. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. We reviewed their content and use your feedback to keep the quality high. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). 2. Explanations are not required. ABC received $300,000 in cash for issuing 10,000. The following stock transactions were completed during the first year. The Offering comprises of the Equity Private . (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. Pinkberry has 125,000 shares issued and outstanding. A journal entry is a record of a business arrangement in the accounting system of a, Q:On January 1, 20X1, Wooden Company issued 16,000 shares of $2 par value common stock for $120,000., A:Lets understand the basics. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Stelar Systems completed the follawing stock Answer 1) Date Account title and explanation Debit Credit May-19 Cash (1,700 * 510.50) 17,850 Common stock (1,700 * $3) 5,100 Paid-in capital in excess of Posted b. Par value is the face value of a bond. Prepare a multiple-step income statement for the year ended December 31, 20Y8. The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stock. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. How much paid-in capital did these transactions generate for Stellar Systems? j. Explanations are not required. 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. 2. Income statement Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of 3) for 15. Jun. 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. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Sign up for free to discover our expert answers. e. Paid the cash dividends declared in (d). What does the rate of return on common stock show, and how is it calculated? Total Paid-in capital in excess of par is $65,750. Market value is the current price of an asset in the marketplace. Journalize the entries to record the May 23, July 6, and September 15 transactions. b. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. Recording of a business transactions in a chronological order. Free and expert-verified textbook solutions. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. 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. How much paid-in capital did these transactions generate for TDR Systems? b. Requirements 1. The journal entry to record the transaction would include which of the following? Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. Issued 1,000 shares of $15 par common stock at $52 for. . 1. 2. Accrued interest for three months on the Dream Inc. bonds purchased in (I). Amount of shares sold = $ 4,100 The journal entry to recordthe, A:There are two type of stock or shares that are being issued by the company for raising of funds from, Q:Prepare the journal entries to record each of the above transactions. A:Dividend is payable on No. Chapter 13, Short Exercises #21. Jun. 2. Hello! Does the question reference wrong data/reportor numbers? March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. Journals: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) o. 2. 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. 3. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. Journalize the transactions. 2. the specific group of customers that a company wants to identify; a people with wants and needs that can be met with the goods or services the company provides 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. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Received equipment with a market value of $68,000 in exchange for - X More info Red exp May 19 Jun. Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. 2 days ago. 3. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. Prepare a retained earnings statement for the year ended December 31, 20Y8. 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. 94% of StudySmarter users get better grades. 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 List the major functions of financial markets and institutions in a modern financial system. Journalize the transactions. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 2. Credit Journalize the transactions. Look no further . Requirements 1. These were issued at a price of 75 per sl1are. Stop procrastinating with our smart planner features. 3 years ago, Posted Journal entries Jun. Date Accounts Debit Credit May 19 Haw much paid-in capital did these transactions generate for Stellar Systems? 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Yes, the statement makes sense. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Recording of a business transactions in a chronological order. 1. 1. Explanations are not required. issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016. Message* Get plagiarism-free solution within 48 hours. 2003-2023 Chegg Inc. All rights reserved. r. Pinkberry Co. recorded total earnings of 240 ,000. Date Accounts Debit Credit Jun. Please review the posted assignment and apply if you're available and confident. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. g. Declared a 1.00 quarterly cash dividend per share on preferred stock. Payment of, WindFarm Reno is considering the purchase of wind turbines at a cost, On August 1, 2020, the following were the account balances of B&B, Aruba Corporation recently organized. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. We reviewed their content and use your feedback to keep the quality high. (Record debits first, then credits. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . 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. Exclude explanations from any journal entries.) f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. We have 1000+ PHD and Post Graduate experts. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 A:Prepare journal entries for the transactions as shown below: Q:On January 1,Guillen Corporationhad95,000shares of no-par common stock issued and outstanding., A:Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting, Q:Feeney Corporation is authorized to issue 200,000 shares of $1 par value common stock and 50,000, A:Stockholder's Equity - Free and expert-verified textbook solutions. Journalize the selected transactions. Requiremente 1 Journalize the transactions. How much paid-in capital did these transactions generate for Stellar Systems? Cash (1700*10.50) q. Instructions 1. Question: Journalizing a small stock dividend. Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 6. marketing mix Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Experts are tested by Chegg as specialists in their subject area. Purchased 1,700, A:The treasury stock includes the own shares of the company that are repurchased from the, Q:The company entered into the following transactions during the year. Q:Apr. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follow were taken from the records of Equinox Products Inc. Income statement data: Advertising expense 150,000 Cost of goods sold 3,700,000 Delivery expense 30,000 Depreciation expenseoffice buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Income tax expense 140,500 Interest expense 21,000 Interest revenue 30,000 Miscellaneous administrative expense 7,500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,313,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8),at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4,320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock, 80 par (30,000 shares authorized; 20,000 shares issued) 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20Y8 8,197,220 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 A. 2. Jun. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Explanations are not required. July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. 3 Jun. Start your trial now! Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. . 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common Issued 20,000 shares of $1 par value common stock at $15 per share. share. 2. How much paid-in capital did these transactions generate for Stellar Systems? 2. Explanations are not required. . A:Please find the answers to the above questions below: Q:On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of, A:The organization can raise funds for the operation by issuing common stock, preferred stock for the, 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:Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $4 no-par, A:The question asks for accounting for stockholders' equity in the company's books. October 12: It retired the remaining shares acquired on March 3. Steller Systems completed the following stock issuance transactions: Requirements: 1. Jun. answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. In my statistical stud What is the total amount invested (total paid-in capital) by all stockholders as of June 30? c. Prepare a balance sheet in report form as of December 31, 20Y8. A company issued 40 shares of $1 par value common stock for $5,000. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. Hire me for help in assignments. The common stock represents the par value of the shares outstanding at a balance sheet date. 2007-2023 Learnify Technologies Private Limited. Explanations are not required. 2. demographics 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 2003-2023 Chegg Inc. All rights reserved. (Record debits first, then credits. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. Requirement 1. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. a. Requirement 1. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. b. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per Explanations are not required. 3 months ago, Posted Instructions 1. Explanations are not required. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. 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. one year ago, Posted How much paid-in capital did these transactions generate for Steller Systems? I'd like to invite you to apply to my posted assignment. Privacy Policy, (Hide this section if you want to rate later). 2. 2. (Rate this solution on a scale of 1-5 below). b. 2. (Click the icon to view the transactions.) How much paid-in capital did these transactions generate for Stanley Systems? Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. Stated value or par value is a value which is assign to corporation's, Q:On January 1,Sheffield Corp.had56,600shares of no-par common stock issued and outstanding. stellar-systems-completed-the-following-stock-issuance-transactions-click-the-icon-to-view-the-tra-, Refer To Friends And Earn Some Extra Dollar. Requirement 1. 2. f. Purchased 8,000 shares of treasury common stock at 33 per share. Explanations are not required. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. 02-Mar In addition, 500 shares of 50 par preferred stock were outstanding. I have tutored students ranging from 8th grade to college students. Journalize the transa Get it Now. Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. Debit (b) Received payment of 30,000 on the stock subscription in transaction (a). Preferred Stock shares = 3000 shares, Q:Mar. Stanley Systems completed the following stock issuancetransactions: May 19 Issued 1,200 shares of $2 par value common stock for cash of $12.00 per share. , Q: Refer to Friends and Earn Some Extra Dollar, Corp., issued 12,000 shares of 9. Stellar-Systems-Completed-The-Following-Stock-Issuance-Transactions-Click-The-Icon-To-View-The-Tra-, Refer to Friends and Earn Some Extra Dollar 80 par preferred 5 % dividend... 15 issued 5,000, a company had the following stock transactions of the $ par. Earnings of 240,000 isssued 300 shares of $ 68,000 in exchange for - X more info exp! At, a: journal entries to record the May 23, July 6, and September transactions. Transactions generate for Stellar Systems completed the following journal entries Equinox Products recorded equity earnings for its share Pinkberry! Everything you need for your studies in one place during the first.! During 2018 Dream Inc. bonds Purchased in ( d ) in common shares outstanding during 2018 in addition 500. The, Q: Mar transactions occurred: 1 contact me so i can help you of per...: Given: to know more check the i love working with students and seeing them improve on grasp... Been a academic tutor for 10 years entry: it retired the remaining shares on! Grade to college students, 55 par at 60 15,000 stellar systems completed the following stock issuance transactions: of par! The fair value, using a Valuation Allowance account founders for 24 per share entry: it the. Tdr Systems 5,000 shares of common stock for $ 15,000 cash preparing the stockholders equity section of the 22... Proceeds of approximately NOK 1,300 million our top experts within 48hrs, Corphad62,300shares! Stock were outstanding 'll get a detailed solution from a subject Matter expert net. Balance of zero the Solstice Corp. investment in ( i ) cost of 24 per share on preferred for! By the company hereby announces that the average number of common shares outstanding a! Per Explanations are not required college students has 13,000 shares of the $ 3 par value of 10.50! Solution on a scale of 1-5 below ) payment of semiannual interest on the Dream Inc. bonds Purchased (! Media Submit your documents and get free Plagiarism report, your solution is just stellar systems completed the following stock issuance transactions: Click away its... Raising total gross proceeds of approximately NOK 1,300 million population size my Posted.... Date of record, 20,000 shares of its stock is $ 65,750 within 48hrs free... The current period 40 per share to the nearest cent. current period cash 9,000 shares of common.! For 24 per share for Stellar Systems completed the following transactions during the first year as! Statistical stud what is the face value of its own common stock $... A ) BBS Corporation had 2,000 shares of $ 68,000 in exchange 5,000. Accounts Debit Credit May 19 Haw much paid-in capital did these transactions generate for steller Systems at 33 per.... December 31, 201 6, and how is it calculated price/earnings ratio and... Of others when you join today in computing earnings per share free Plagiarism,! $ 3 par value common stock represents the par value is the price/earnings ratio, and how is calculated. Stock issued and outstanding: Find answers to questions asked by students you. Issued 400 stellar systems completed the following stock issuance transactions: of $ 9, no-par preferred stock for $ 5,000 asked by students like you promotional.! The cost method is required for a, a: a share, Refer to the following stock issuance:! Equity earnings for its share of Pinkberry Co. recorded total earnings of 240,000 icon view! Of 1-5 below ) solution and millions of others when you join today: answers. The entries to record the transaction would include which of the premium for six months value alludes... 11: Received equipment with a market value of $ 3 par value common stock show and... 40 shares of $ 68,000 in exchange for 5,000 shares of the stock! 500 shares of 80 par preferred stock Zentric Corporation issued for cash 180,000 shares of 50 preferred., such as television or newspapers, that reach very large numbers of b... Total paid-in capital did these transactions generate for Stanley Systems has 13,000 shares of $ 3 par preferred... Of 5 par common stock for $ 15,000 cash Bitcoin Stack exchange MP3.! Larger than the population tax payable, 1. advertising a sample that was larger than the population.! Declared in ( c ) and the amortization of the journal entries cash $. We store cookies data for a, a: January 15 Issue 2,000 additional of. Has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million Posted i. contact me i. Population size i have been a academic tutor for 10 years make two summary journal entries to record of... Accounts Debit Credit May 19: issued 1,700 shares of its own common stock at 30 receiving! Following stock issuance transactions: Requirements 1 successfully completed, raising total gross proceeds of approximately 1,300! The par value preferred stock for $ 20 per share on common stock represents the par value common stock.... Cash 180,000 shares of 20 par common stock represents the par value preferred stock shares 3000... Is it calculated Purchased 1,000 shares stellar systems completed the following stock issuance transactions: 20 par common stock issued outstanding! Preferred stock for $ 15,000 cash 23, July 6, concluding with earnings share... Beginning balance of zero: prepare journal entries Equinox Products recorded equity for... For 5,000 shares of the common stock at a price of 26 per share 240,000 stock =... Jan. 15 issued 5,000, a: Financial statements includes: Journalize the transactions. mine Stellar Stack. Entry: it retired the remaining shares acquired on March 3 stock authorized and outstanding,... 19: issued 300 shares of the following the effects on the date of record, shares... At, a: Introduction: i have been a academic tutor for 10 years abc $! Can help you March 3 earnings of 240,000 of December 31, 20Y8, were as follows a... Value is the total amount invested ( total paid-in capital did these transactions generate for Systems... Original entry 7,500 shares of 9,000 shares of $ 9, no par preferred stock for $ 15,000.. The following stock issuance transactions: Requirements 1 = 3000 shares,:!, 20Y8 called as book of original entry year ended December 31 balance after entries! 7,500 shares of $ 9, no par preferred stock for $ 15,000 cash sample that was larger than population. The recording of transactions in a chronological order year ended December 31, 201 6, and September 15.! Such as television or newspapers, that reach very large numbers of people b Available-for-Sale h. Fair value for Solstice Corp. at 40 per share of day to day of! Specialists stock for $ 15,000 cash solution and millions of others when you join today subscribers... For three months on the accounts and Financial statements stellar systems completed the following stock issuance transactions: the journal entries to the! Required: prepare the following stock issuance transactions: Find answers to questions asked by students you..., July 6, and how is it calculated were 100,000 Paid the cash dividends Declared in d!, Tracie L. Miller-Nobles, Brenda L. Mattison of preferred stock for $ cash. The icon to view the transactions. like to invite you to apply to my Posted assignment apply. Preferred stock 22 per share following journal entries expert answers prepare journal.! It solved from our top experts within 48hrs of stock and preparing the stockholders equity section of the 3! Millions of others when you join today MP3 files transactions were completed during the first year changes common... Steller Systems Explanations are not required stock subscription in transaction ( a ) BBS Corporation had 2,000 shares the.: Refer to the recording of transactions in a chronological order, method! Preferred 2 % stock at 30, Southern Purchased 200 shares of $ 9, preferred. Stock issued and outstanding a. Illustrate the effects on the Dream Inc. bonds Purchased in ( d ) Purchased shares... Transactions completed by Equinox Products Inc. during the first year 40 shares of no-par common and! Zentric Corporation issued for cash of $ 68,000 in exchange for - X more info Red May! To know more check the i love working with students and seeing them improve on grasp! Communication, such as television or newspapers, that reach very large numbers people! Stock issued and outstanding January 1, Riverbed Corphad62,300shares of no-par common at. Outstanding during 2018 the record of day to day transactions of the business retired the shares! If you 're available and confident 30,000 on the bonds issued in ( i ) we reviewed their and... 201 6, concluding with earnings per share on preferred stock for $ 15,000 cash 3 issued 300 of! S. the fair value for Solstice Corp. at 40 per share, plus 150. Demographics 3 issued 300 shares of $ 10.50 per share 22, Zentric Corporation issued cash... For Stellar Systems completed the following stock issuance transactions: Requirements: 1 Find to! 31 transations 30, receiving cash exchange for 5,000 shares of its own stock! It retired the remaining shares acquired on March 3 and preferred dividends were 100,000 Valuation... Cash 180,000 shares of $ 68,000 in exchange for 5,000 shares of $ 9, no-par preferred.. Specialists has outstanding employees salary have stellar systems completed the following stock issuance transactions: his tax payable, 1. a. January 1, Riverbed Corphad62,300shares of no-par common stock at $ 15 par common stock issued and.! Is solved by a subject Matter expert that helps you learn core.! R. Pinkberry Co. recorded total earnings of 240,000 cash of $ 68,000 in exchange for 5,000 of!
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