Hardev When a company issues 39,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include a:Multiple ChoiceDebit to Additional Paid-in Capital for $195,000Credit to Common Stock for $1,950,000.Debit to Cash for $195,000.Credit to Additional Paid-in Capital for $1,755,000,

(1) Debit what comes in, Credit what goes out.(2) Debit all expenses and losses, Credit all incomes…

Answered: When a company issues 39,000 shares of…

Principles of Accounting Volume 1

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Chapter14: Corporation Accounting

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Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...

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Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150
Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.
Anoka Company reported the following selected items in the shareholders equity section of its balance sheet on December 31, 2019, and 2020: In addition, it listed the following selected pretax items as a December 31, 2019 and 2020: The preferred shares were outstanding during all of 2019 and 2020; annual dividends were declared and paid in each year. During 2019, 2,000 common shares were sold for cash on October 4. During 2020, a 20% stock dividend was declared and issued in early May. At the end of 2019 and 2020, the common stock was selling for 25.75 and 32.20, respectively. The company is subject to a 30% income tax rate. Required: 1. Prepare the comparative 2019 and 2020 income statements (multiple-step), and the related note that would appear in Anokas 2020 annual report. 2. Next Level Compute the price/earnings ratio for 2020. How does this compare to 2019? Why is it different?
A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? 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
When a company issues 27,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include: Multiple Choice A credit to Common Stock for $1,350,000. A credit to Additional Paid-in Capital for $1,215,000. A debit to Additional Paid-in Capital for $135,000. A debit to Cash for $135,000.
When a company issues 36,000 shares of $4 par value common stock for $40 per share, the journal entry for this issuance would include: Multiple Choice A credit to Additional Paid-in Capital for $1,296,000. A debit to Cash for $144,000. A credit to Common Stock for $1,440,000. A debit to Additional Paid-in Capital for $144,000.
Which of the following would be included in the entry to record the issuance of 7,000 shares of $4 par value common stock at $27 per share? Cash would be debited for $28,000. Common stock would be debited for $28,000. Common stock would be credited for $189,000. Paid in capital in excess of par-common would be credited for $161,000.
Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. The company then resells 400 of these shares for $20 per share. Which of the following is recorded at the time of the resale? a. Credit Common Stock for $400. b. Credit Treasury Stock for $8,000. c. Credit Common Stock for $8,000. d. Credit Additional Paid-In Capital for $1,600.
17) When a company issues 25,000 shares of $1 par value common stock for $10 per share, the journal entry for this issuance would include: A) A debit to Cash for $25,000. B) A debit to Additional Paid-in Capital for $25,000. C) A credit to Common Stock for $250,000. D) A credit to Additional Paid-in Capital for $225,000.
A company issues 1 million shares of common stock with a par value of $0.18 for $16.60 a share. The entry to record this transaction includes a debit to Cash for: Multiple Choice $16,600,000, a credit to Common Stock for $180,000, and a credit to Additional Paid-in Capital for $16,420,000. $16,600,000 and a credit to Common Stock for $16,600,000. $180,000, a debit to Capital Receivable for $16,420,000, a credit to Common Stock for $180,000, and a credit to Additional Paid-in Capital for $16,420,000. $180,000 and a credit to Common Stock for $180,000.
A company sold 10,000 shares of its own $1 par value common stock for $60,000. The entry to record the sale would include a Group of answer choices credit to common stock, $1 par value for $60,000 debit to contributed capital for $10,000. credit to common stock, $1 par value for $10,000. debit to treasury stock for $60,000.

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