June 7 Issued 4,000 shares of $3 par value common stock for cash of $12 per share Aug. 16 Issued 400 shares of no-par preferred stock for $25,000 cash Sept. 19 Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock Hi, I'm not totally positive on how to journal these entries

June 7 Issued 4,000 shares of $3 par value common stock for cash of $12 per share Aug. 16 Issued 400 shares of no-par preferred stock for $25,000 cash Sept. 19 Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock Hi, I'm not totally positive on how to journal these entries

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 4DQ

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Don't use chatgpt, I will 5 upvotes Manning Company issued 10,000 shares of its no-par common stock having a fair value of $30 per share and 15,000 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $700,000. How much of the proceeds would be allocated to the common stock? a) $300,000 b) $350,000 c) $225,000 d) $200,000
Assets – Liabilities – Preferred Stock = ______________________ Select one: a. Current Liabilities b. Common Stockholders c. Retained Earnings d. Long-Term Debt
vi. Subject :- Finance Consider company with revenues of $441 million, gross profit of $206 million, operating profit of $173 million and net income of $64 million. What is this company's operating margin? Answer in percent, rounded to one decimal place (e.g., 8.23% --> 8.2)
6) Who is considered to be owner of the company? a. None b. Preference share holders c. Debenture holders d. Equity share holders
3 - Which of the following bills has the right to receive it?A) BondB) Bill of ladingC) StockD) WarrantE) Redeemed share
1.1) Differentiate between the different types of partnerships. In your answer:• identify the types of partnership• explain the characteristics of that particular partnership• explain the liability of each of the partners with respect to the type ofpartnership 1.2) Judy is a shareholder in Pat-X Ltd. She believes that she can use the sharecertificate to make a payment. She wants to exchange the certificate for apair of shoes. The last time she checked the shares were valued at a R1000and she figures she could put them to good use. Can she do so? Discuss withreference to the nature of a share certificate.
9) Which of the following assets are called as foundation of a business? a. Working capital b. Fixed Assets c. Current Assets d. None
A 9 percent preferrred stock for Micky's Corp. is currently selling for $75 a share. What is the cost of preferred stock? Select one: a. 12.00 percent b. 9.27 percent c. 4.76 percent d. 10.47 percent
ESSAY. Write your answer in the space provided or on a separate sheet of paper. 1) Ms. Linda Udall owns 800 shares of Fordam Inc. that she acquired several years ago at $10 per share. On April 30, 2020, she acquires an additional 200 shares at $12 per share. On July 15, 2020, after Fordam releases unexpectedly bad second quarter results, Ms. Udall sells all 1,000 of her shares at $5 per share. On August 1, 2020, she purchases 200 shares at $1 per share as she believes the market has overreacted to the bad news. Ms. Udall is still holding the shares at the end of the year. What are the tax consequences of these transactions? 2) On July 1, 2020, Lorty InC. sells equipment for S126,000. This equipment had an original cost of $111,000 and a net book value of $93,000. For tax purposes, these assets were in Class 8. The UCC balance in this class on Januarv 1, 2020 was $103,000. There were no other additions or dispositions of Class 8 assets during the taxation vear ending December 31, 2020.…
Expand F CPA
39. each person insured under a group life insurance is a a. shareholder b. beneficiary c. certificate holder d. policyowner
How can it be determined if the company has sufficient short-term assets to meet its short-term debts? a. Inquire with the accountant, though regrettably, thay are on sick leave b. Comparing Current Assets with Current Liabilities c. Assess if there is adequate margin

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June 7	Issued 4,000 shares of $3 par value common stock for cash of $12 per share
Aug. 16	Issued 400 shares of no-par preferred stock for $25,000 cash
Sept. 19	Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock