Skysong Inc. issues 500 shares of $ 10 par value common stock and 100 shares of $ 100 par value preferred stock for a lump sum of $ 103,000. (a Prepare the journal entry for the issuance when the market price of the common shares is $ 164 each and
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- St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000 shares of $1 stated value common stock. During the year, the company has the following transactions: Journalize the transactions.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.Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.
- Brown Corporation issues 800 shares of its 5 par common stock for 20 per share. Prepare the journal entry to record this transaction.Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first year, the company has the following transactions: Journalize the transactions and calculate how many shares of stock are outstanding at August 3.
- Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Journalize the transactions and calculate how many shares of stock are outstanding at August 3.Swifty Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $100,000 Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each b. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $176 per share a. (Lista debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, eg 1.225. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) No. Account Titles and Explanation Debit CreditRiverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $112,000. Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. (a) (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $194 per share. (Round answers to O decimal places, eg. $1,225. Credit account titles are automaticall indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (a) (b)
- Vaughn Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $115,000. a. b. Prepare the journal entry for the issuance when the market price of the common shares is $174 each and market price of the preferred is $218 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $200 per share. (List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 1,225. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles and Explanation a. Debit CreditWindsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $108,000. a. b. Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $186 per share. (List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, e.g. 1,225. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation a. Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock Debit 108000 Credit 5000 84000 10000 11000Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $108,000. a. b. Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $186 per share. (List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, e.g. 1,225. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation a. Cash Debit 108000 Credit