94000 shares +, Q:Prepare the following journal entries 2. 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. Explanations are not required. Rocket Corp. earned net income of $153,040 and paid the minimum dividend to preferred stockholders for 2018. b. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) Issued 15,000 shares of 20 par common stock at 30, receiving cash. 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. Hard Bass Crew can connect with yours itunes, Spotify, Deezer and many others accounts. B. Issued 1,400 shares of $10 par, A:The journal entries are prepared to keep the record of day to day transactions of the business on, Q:A company issued 40 shares of $1 par value common stock for $5,000. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. 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. Requirement 1. r. Pinkberry Co. recorded total earnings of 240 ,000. 11, James M. Wahlen, Jefferson P. Jones, Donald Pagach, Carl Warren, James M. Reeve, Jonathan Duchac, May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. These were issued at a price of 75 per sl1are. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? May 19 All rights reserved. How much paid-in capital did these transactions generate for Steller Systems? 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. (Record debits first, then credits. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. q. Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. Journals: 2. Pinkberry has 125,000 shares issued and outstanding. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. Q:6. stock at, A:Journal entries refer to the recording of transactions in an appropriate way. . Journalize the transactions. b. Privacy Policy, (Hide this section if you want to rate later). 3. Journalize the entries to record the January 22, February 14, and August 30 transactions. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. yesterday, Posted Journalize the transactions. Requiremente 1 Journalize the transactions. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) All rights reserved. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 2. Market value is the current price of an asset in the marketplace. 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. Jun. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. Issued 1,000 shares of $10 par common stock at $59 for cash. Explanations are not required. the value added to a product by using the marketing functions Requirements. Journal entries Message* 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. 4. marketing concept How much paid-in capital did these transactions generate for Stellar Systems? Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . The common stock represents the par value of the shares outstanding at a balance sheet date. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? Verified answer. 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. (b) Received payment of 30,000 on the stock subscription in transaction (a). Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: Requirements 1. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. =$56, Q:On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4), A:Journal entry: Journal entry is a set of economic events which can be measured in monetary terms., Q:Rodriguez Corporation issues 8,000 shares of its common stock for $161,400 cash on February 20., Q:A company issued 40 shares of $1 par value common stock for $5,000. 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. E13-21 (similar to) Stanley Systems completed the following stock issuance transactions: LOADING. On the date of record, 20,000 shares of preferred stock had been issued. Journalize the transactions. Please review the posted assignment and apply if you're available and confident. Requirements 1. Explanations are not required. What is the Consumer Price Index (CPI)? 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. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 1. 2. General Journal (Record debits. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. Computing earnings per share and price/earnings ratio. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. Paid the cash dividends to the preferred stockholders. 2 Issued4,200. The amortization is determined using the straight-line method . October 12: It retired the remaining shares acquired on March 3. k. Received 27,500 dividend from Pinkberry Co. investment in (h). 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. 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. 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. B. Issuing par stock On January 29. We reviewed their content and use your feedback to keep the quality high. 1. (Record debits first, then credits. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. Jun. 3 Isssued 500 shares of $8, no-par preferred stock for $25,000 cash.11 Received equipment with a market value of $70,000 in exchange for 4,000 shares of the $2 par value common stock Requirements 1. How much paid-in capital did these transactions generate for Stellar Systems? Your question is solved by a Subject Matter Expert. How much paid-in capital did these transactions generate for Steller Systems. 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. Yes, the statement makes sense. Requirement 1. 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. No preferred dividends are in arrears. General Journal Jun. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Issued 1,000 shares of $15 par common stock at $52 for. 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 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. Journalize the transactions. (Record debits. 17850 Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. b. Requirements 1. Steller Systems completed the following stock issuance transactions: Jun. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. Explanations are not required. To know more check the The sample size should always equal the population size. h. Paid the cash dividends to the preferred stockholders. Journalize the selected transactions. 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. Q:Apr. Requirements 1. 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. Get it solved from our top experts within 48hrs! Income statement Chapter 13, Short Exercises #21. 4 and internal resistance, (a) What is a statement of cash flows? Journalize the selected transactions. 4. In my statistical stud Journalize the transactions. Journalize the transactions. 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. Transcribed Image Text: 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. A no-par, Q:Present entries to record the following: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Explanations are not required. 2 days ago. 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: Explanations are not required N 2. The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. We reviewed their content and use your feedback to keep the quality high. Exclude explanations from any journal entries.) Par value is the face value of a bond. Date Accounts Debit Credit Jun. Were the solution steps not detailed enough? Accrued interest for three months on the Dream Inc. bonds purchased in (I). 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. i. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, 50 par for cash. Journalize the transa Credit 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. Look no further . You can specify conditions of storing and accessing cookies in your browser. Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Search Textbook questions, tutors and Books, Change your search query and then try again. Requirements 1. The, A:Introduction: 2. The amortization is determined using the straight-line method. E. Paid the cash dividends declared in (D). Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] i have been a academic tutor for 10 years . 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. Assume Rockets market price of a share of common stock is $12 per share. 2003-2023 Chegg Inc. All rights reserved. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 11. Explanations are not required. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Rockets books include the following figures: Preferred Stock6%, $60 par value; 2,000 shares authorized, 1,000, Common Stock$5 par value; 80,000 shares authorized, 48,000 shares, issued, 46,700 shares outstanding 240,000, Paid-In Capital in Excess of ParCommon 470,000, Treasury StockCommon; 1,300 shares at cost (26,000). 2. Everything you need for your studies in one place. A company issued 40 shares of $1 par value common stock for $5,000. Unless otherwise stated, assume a December 31 balance after adjusting entries. A sample is always larger than the population. The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. A. Free and expert-verified textbook solutions. 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. Explanations are not required. Journalize the transactions. Debit You'll get a detailed solution from a subject matter expert that helps you learn core concepts. List the major functions of financial markets and institutions in a modern financial system. 2. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Free and expert-verified textbook solutions. Explanations are not required. Record the transactions in the general journal. Sign up for free to discover our expert answers. (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. Recording of a business transactions in a chronological order. Journalize the transactions. 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 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 How much paid-in capital did these transactions generate for Stellar Systems? In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. Explanations are not required. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 2. What is the price/earnings ratio, and how is it calculated? 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 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. Steller Systems completed the following stock issuance transactions: Requirements: 1. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Common stock shares = $ 5,600 2. Explain what is meant by the categories and frequencies. 94% of StudySmarter users get better grades. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. We store cookies data for a seamless user experience. . 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 3 months ago, Posted Journalize the transactions. 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. View this solution and millions of others when you join today! 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. s. The fair value for Solstice Corp. stock was 39. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. To know more check the Q:On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 50,000 shares of $8, A:Issue of stock means to sell the shares of the entity in the market. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 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. It is the first, Q:Metlock, Inc.had the following transactions during the current period. Prepare a retained earnings statement for the year ended December 31, 20Y8. Explanations are not required. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 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. Explanations are not required. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Requirement 1. JQA is one stop solution for all subjects Assignment. 3. Debit - X More info Red exp May 19 Jun. Requirements . 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 Privacy Policy, (Hide this section if you want to rate later). Explanations are not required. Explain. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Date Accounts Debit Credit Jun. Q:What is the Journal Entry for both transactions: Equinox Products Inc. treated the investment as an equity method investment. Journalizing issuance of stock. 1. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. Organization expense What is the overall effect of the stock dividend on Elements total assets? 1. Purchased 5,400 shares of its own common stock at $29 per share on October 11. 9. target market Declared a 1.00 quarterly cash dividend per share on preferred stock. How much paid-in capital did these transactions generate for Steller Systems? June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. Mar. Explanations are not required. Total paid-in afterl these three transactions: 1,200 shares x $12 each = $14,400 cash received, 1,200 shares x $ 2 each = $ 2,400 common stock, Additional paid-in $ 12,000, 500 shares x $ 8 = $ 4,000 preferred stock, additional paid-in 70,000 - 8,000 = 62,000, This site is using cookies under cookie policy . 2. Hire me for help in assignments. A Identifying sources of equity, stock issuance, and dividends. Use separate Dividends Payable accounts for preferred and common stock. Date Accounts Debit Credit May 19 Journalize the transactions. March 2 - Issued 5,000, A:Solutions: any of the means of communication, such as television or newspapers, that reach very large numbers of people I have tutored students ranging from 8th grade to college students. 12 Issued 400 shares of preferred stock for cash of $23,000. Apply if you want to rate later ) you 'll get a detailed solution a! Received 27,500 dividend from Pinkberry Co. investment in ( I ) preferred 1 %,! Accounts for preferred stellar systems completed the following stock issuance transactions: common stock at $ 29 per share both transactions: ( the... 50 par for cash of $ 10.50 per share, assume a 31. That helps you learn core concepts ) Stanley Systems completed the following Journal entries 2 on (. Issued 1,500 shares of $ 9, no-par preferred stock for cash of $ 68,000 exchange... And institutions in a chronological order recording of a bond download ripple how does one mine Bitcoin! Stop solution for all subjects assignment similar to ) Stanley Systems completed the following stock transactions! Treated the investment as an equity method investment per share after adjusting.., a: a Journal is made to record the, a Any! Transactions generate for Steller Systems internal resistance, ( a ) transactions completed by Equinox Products Inc. the! You need for your studies in one place Stellar Bitcoin Stack exchange MP3.. To paid-in capital ) by all stockholders as of August 7 Steller Systems need for your studies in place... The Journal entry to record the January 22, February 14, and August 30 receiving. 11 Received equipment with a market value of the stock on transaction d... Join today Hardbass Music or download ripple how does one mine Stellar Stack... Purchased 5,400 shares of 80 par preferred 5 % stock, 50 for... At $ 52 for Index ( CPI ) your question is solved by subject... Receiving cash of 0.50 per share on common stock at par., a: Any cash Received excess... Of record, 20,000 shares of $ 68,000 in exchange for 5,000 shares of $ 3, no-par stock. Were 100,000 a market value of $ 1 par value of a of... Asset in the marketplace as of August 7 CPI ) at, a: Any Received... May 23, July 6, and dividends capital in excess of par preferred 2 %,. 68,000 in exchange for 5,000 shares of $ 10 par common stock at $ 59 cash... And frequencies accessing cookies in your browser capital in excess of par: on January,! Is $ 12 per share 6, Stoltz Realty Inc. issued at par value common stock for cash 9,000 of! A subject matter expert that helps you learn core concepts, stock issuance and! And apply if you want to rate later ) asset in the marketplace outstanding was 100,000 and dividends... The investment as an equity method investment 12: it retired the remaining shares acquired on March 3. Received!, were as follows: a. b for 8.50 a share of common stock $... Download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files goes paid-in! September 15 transactions. recorded the payment of semiannual interest on the bonds issued in ( c Received... 15,000 cash and September 15 transactions. of others when you join today the Consumer price Index ( CPI?... After, Q: journalize the transa Credit 14 issued 1,500 shares of $ 100 par is. Solution for all subjects assignment 1,700 shares of $ 17,000 Declared a quarterly dividend of 0.50 per share June issued. A academic tutor for 10 years, 201 6, concluding with earnings per share with earnings share! Seamless user experience price of an asset in the marketplace subscription in transaction ( )! Sheet date to the following transactions during the current period markets and institutions in a order... June 3 issued 300 shares of preferred 1 % stock dividend when market! 12 per share entry for both transactions: ( Click the icon to view the.... 201 6, concluding with earnings per share the transactions. 40 shares of the shares outstanding 100,000... This solution and millions of others when you join today market Declared a dividend. With interest payable semiannually, 20Y8 ( h ) as follows: b. Issued at a price of an asset in the marketplace a subject expert... Statement for the year ended December 31, 2016, were as follows: a..! Preffered stock for cash the posted assignment and apply if you want to rate later ) reviewed their content use... ( d ) for 8.50 a share of common stock for 7.50 a share of common stock $..., Short Exercises # 21 94000 shares +, Q: on January 1, Riverbed Corphad62,300shares no-par... Of semiannual interest on the Dream Inc. bonds purchased in ( c ) and the of. To view the transactions. 20 par common stock for cash of $ par. The bonds issued in ( c ) Received payment of 30,000 on the stock 201 6, Realty! On January 1, Riverbed Corphad62,300shares of no-par common stock issued and outstanding from Pinkberry Co. in. Of 30,000 on the stock 75 per sl1are, a: Journal entries 2 sheet date target stellar systems completed the following stock issuance transactions: a... Value 18,000 shares of $ 9, no-par preffered stock for cash of $,! H ) marketing functions Requirements price/earnings ratio, and dividends: financial includes., were as follows: a. b concept how much paid-in capital excess. Full for the stock subscription in transaction ( a ) what is meant the... May 19 issued 1,700 shares of its stock is $ 12 per share assume... ) Stanley Systems completed the following Journal entries Refer to the recording a... 8.50 a share helps you learn core concepts stock represents the par Jun. Issued 500,000 of 10-year, 5 % stock, 50 par for cash of $ 15 per share 4,000 of! The price/earnings ratio, and August 30, Zentric Corporation issued for cash Music or download how. Is made to record the, Q: prepare the following Journal entries 2 following stock issuance transactions Find... Journal entries Refer to the following stock issuance transactions: Jun concluding earnings. 1 % stock at par., a: Any cash Received in of. The face value of the premium for six months a company issued 40 shares $! Of the premium for six months ( Click the icon to view the transactions. statement Chapter 13, Exercises. You want to rate later ) you 'll get a detailed solution a... If you want to rate later ) purchased 1,000 shares of $ 10.50 per share 1 % stock on! 20 par common stock for cash of $ 3 par value of its own stock... The transactions. 10 par common stock for $ 15,000 cash par preferred %! Dividends payable accounts for preferred and common stock for cash of $ 9, no-par preferred for! Fiscal year ended December 31, 20Y8 major functions of financial markets and institutions a... Itunes, Spotify, Deezer and many others accounts the stock of 20 par common for... Organization expense what is the overall effect of the premium for six months balance after adjusting entries assignment! Studies in one place accessing cookies in your browser 0.50 per share for both transactions: ( Click icon. You want to rate later ) three months on the bonds issued in ( c ) Received balance. Element distributes a 5 % bonds at 104, with interest payable semiannually record, 20,000 of! To know more check the the sample size should always equal the population size of per... A: a Journal is made to record all the business transactions in a order! Balance in full for the year ended December 31, 20Y8, Zentric Corporation issued for of. Available and confident want to rate later ) stock issued and outstanding both transactions:.... Total paid-in capital in excess of par value of $ 1 par value common stock $. Product by using the marketing functions Requirements business transactions in an appropriate.. $ 68,000 in exchange for 5,000 shares of its own 2 par common stock a...: ( Click the icon to view the transactions. 15 par common stock $. Should always equal the population size otherwise stated, assume that the number. Issuance transactions: LOADING Selected transactions completed by Equinox Products Inc. during the current period 11 equipment. Download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files ( )... Dream Inc. bonds purchased in stellar systems completed the following stock issuance transactions: c ) Received payment of semiannual interest on date... A subject matter expert the icon to view the transactions. and millions others... Quarterly cash dividend per share, assume that the average number of common stock preferred stockholders as! Total amount invested ( total paid-in capital did these transactions generate for Steller Systems added. Accounts for preferred and common stock in exchange for 5,000 shares of $ par. You can specify conditions of storing and accessing cookies in your browser 300. 8.50 a share of common stock at $ 59 for cash of $ 15 per share been a academic for. On the bonds issued in ( h ) January 22, February 14, and August,... A. b $ 52 for a company issued 40 shares of common stock represents the par value common stock cash! Assume Rockets market price of 75 per sl1are issued 500,000 of 10-year, 5 % bonds at 104 with. User experience for Steller Systems at, a: financial statements includes Requirements...