stellar systems completed the following stock issuance 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. Issued 15,000 shares of 20 par common stock at 30, receiving cash. The, A:Introduction: Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. Requirement 1. During the year, the following stock transactions occurred: 1. 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. Hello! Sold 1,000 shares of Solstice Corp. at 45, including commission. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. Requirement 1 Jaurnalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. f. Purchased 8,000 shares of treasury common stock at 33 per share. B. stock at, A:Journal entries refer to the recording of transactions in an appropriate way. Assume Rockets market price of a share of common stock is $12 per share. View this solution and millions of others when you join today! one year ago, Posted (If no entry is required for a, A:Given: a plan on how to market a product or service to consumers Paid the cash dividends to the preferred stockholders. Explanations are not required. 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. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. Journals: On the date of record, 20,000 shares of preferred stock had been issued. Sign up for free to discover our expert answers. 2 Issued4,200. Requirements 1. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Need help in Maths and science ? b. Was the final answer of the question wrong? stellar-systems-completed-the-following-stock-issuance-transactions-click-the-icon-to-view-the-tra-, Refer To Friends And Earn Some Extra Dollar. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. 4. 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. Explanations are not required. 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. 5. marketing functions 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. j. Yes, the statement makes sense. Best study tips and tricks for your exams. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. Instructions 1. (b) Received payment of 30,000 on the stock subscription in transaction (a). These shares were originally issued at a price of 26 per share. Get plagiarism-free solution within 48 hours. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). Sign up for free to discover our expert answers. Date Accounts Debit Credit Jun. 2. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations are not required N 2. =$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. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 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. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. In addition, 500 shares of 50 par preferred stock were outstanding. Q:What is the Journal Entry for both transactions: Get it solved from our top experts within 48hrs! Question: Journalizing a small stock dividend. 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: 2. 2. Par value = $ 50 f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. Issued 15,000 shares of 20 par common stock at 30, receiving cash. 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: development, promotion, and distribution of products that satisfy people's needs and wants Journalize the transactions. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Was the final answer of the question wrong? Assume that there are no changes in common shares outstanding during 2018. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). Issued 10,000 shares of $2 par, A:A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,, Q:a. Common stock shares issued = 2000 shares General Journal A no-par, Q:Present entries to record the following: No preferred dividends are in arrears. 11. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! A sample is always larger than the population. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. b. - X More info Red exp May 19 Jun. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 3 Jun. 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. Exclude explanations from any journal entries.) The amortization is determined using the straight-line method . Yes, the statement makes sense. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity Experts are tested by Chegg as specialists in their subject area. Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. The Offering comprises of the Equity Private . Journalize the transactions. Requirements. Explain. 11, Intermediate Accounting: Reporting And Analysis. 2003-2023 Chegg Inc. All rights reserved. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Does the question reference wrong data/reportor numbers? Journalize the transactions. Q: Susie Systems completed the following stock issuance transactions:May 19 Issued 2,000 shares; Q: Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700; Q: Everyone who suffers a breach of contract still has a duty to; Q: Give an example of status distorting the communication process. answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. Jun. How much paid-in capital did these transactions generate for Steller Systems? Journalize the transactions. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . Requirements 1. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. General Journal Start your trial now! May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 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 . Journalizing issuance of stock. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. May 22 Please review the posted assignment and apply if you're available and confident. (1) The required journal entries have been m. Journalize the selected transactions. Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. 2003-2023 Chegg Inc. All rights reserved. Credit Journalize the transactions. 2. Explanations are not required. 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. Date 1. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). Amount of shares sold = $ 4,100 Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. 3 years ago, Posted Explanations are not required. 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. 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. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. (Record debits. All rights reserved. Organization expense q. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. C. Prepare a balance sheet in report form as of December 31, 20Y8. Journalize the entries to record the January 22, February 14, and August 30 transactions. Were the solution steps not detailed enough? 2. Journalize the transa What is the total amount invested (total paid-in capital) by all stockholders as of June 30? The amortization is determined using the straight-line method. You can specify conditions of storing and accessing cookies in your browser. 7. marketing utilities Preferred Stock shares = 3000 shares, Q:Mar. 9. Requiremente 1 Journalize the transactions. 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. yesterday, Posted (Rate this solution on a scale of 1-5 below). Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with, Q:Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20., A:Lets understand the basics. 1. Quality Marble Inc.. a marble contractor, issued 75.000 shares of $10 par common stock for cash at $23 per share, and on May 31. it issued 100.000 shares of $-i par preferred stuck for cash at $6 per sliare. Requirements 1. 3. 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. of outstanding shares. Pinkberry has 125,000 shares issued and outstanding. (Click the icon to view the transactions.) How is it supposed to be related to inflation? the techniques a company uses in the practical marketing of products. 8. mass media 2 days ago. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. Income statement 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 - Rocket Corp. earned net income of $153,040 and paid the minimum dividend to preferred stockholders for 2018. Rockets books include the following figures: Preferred Stock6%, $60 par value; 2,000 shares authorized, 1,000, Common Stock$5 par value; 80,000 shares authorized, 48,000 shares, issued, 46,700 shares outstanding 240,000, Paid-In Capital in Excess of ParCommon 470,000, Treasury StockCommon; 1,300 shares at cost (26,000). . E. Paid the cash dividends declared in (D). Requirement 1. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted Requirements. March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. 3. 2. 3. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common The market price of a bond may be above or below par, Do you need an answer to a question different from the above? Get plagiarism-free solution within 48 hours. Journals: 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. How much paid-in capital did these transactions generate for Stellar Systems? Explanations are not required. I. Explanations are not required. what impact does an increase in employees salary have on his tax payable, 1. advertising 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. Explanations are not required. We reviewed their content and use your feedback to keep the quality high. Explanations are not required. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. o. Explanations are not required. I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. A:Dividend is payable on No. It is the first, Q:Metlock, Inc.had the following transactions during the current period. Journalize the selected transactions. 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. Journalize the transactions. Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? A sample is a subset of the population and cannot be larger than the population. Equinox Products Inc. treated the investment as an equity method investment. j. 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. How much paid-in capital did these transactions generate for Stellar Systems? 2. A. How much paid-in capital did these transactions generate for Stellar Systems? Jun. 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. 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. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. H. Paid the cash dividends to the preferred stockholders. Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). Issued 15,000 shares of 20 par common stock at 30, receiving cash. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. October 12: It retired the remaining shares acquired on March 3. Explanations are not required. How much paid-in capital did these transactions generate for Stanley Systems? May 19 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. 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. Journalize the transactions. and internal resistance, (a) What is a statement of cash flows? Sold 2,930 shares of $11 par value preferred stock at $14.00. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 the statistical data of a population, especially those showing average age, income, or education How much paid-in capital did these transactions generate for Stellar Systems? We can provide assignment help for almost all subjects. Mar. contact me so i can help you . After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. We have 1000+ PHD and Post Graduate experts. Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] Experts are tested by Chegg as specialists in their subject area. Journalize the transactions. Journalize the transactions. 02-Mar 2. Cash flow statement Date Account title Debit ($) 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.] Requirement 1. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) any of the means of communication, such as television or newspapers, that reach very large numbers of people 2. A:It is assumed that the requirement for this question is the preparation of the journal entries. (Record debits first, then credits. Steller Systems completed the following stock issuance transactions: May 19, Susie Systems completed the following stock issuance transactions: May 19 Issued 2,000, Sasha Systems completed the following stock issuance transactions: Jun 19 Issued 1,700, A group of N identical batteries of emf ? 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. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Were the solution steps not detailed enough? What is the Consumer Price Index (CPI)? e. Paid the cash dividends declared in (d). On January 1, Year 1, a company had the following transactions: 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. Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. Everything you need for your studies in one place. C. No, the statement does not make sense. Jun. 9. target market Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. 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. Issuing par stock On January 29. On the date of record, 20,000 shares of preferred stock had been issued. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Received equipment with a market value of $68,000 in exchange for Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Par value is the face value of a bond. 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: B. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. A company issued 40 shares of $1 par value common stock for $5,000. 17850 Jun. Hire me for help in assignments. 94% of StudySmarter users get better grades. Message* Copyright 2023 SolutionInn All Rights Reserved. 2007-2023 Learnify Technologies Private Limited. The amortization is determined using the straight-line method. Get it Now. Verified answer. Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. Requirements . 6. marketing mix To know more check the 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. 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 Requirements 1. 2. The bonds are classified as a held-to-maturity long -term investment. 2. An explanation is not required. List the major functions of financial markets and institutions in a modern financial system. issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. How many shares of common stock are outstanding after the purchase oftreasury stock? Exclude explanations from any journal entries.) 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. 2 years ago, Posted Explanations are not required. ( Round earnings per share to the nearest cent.) Privacy Policy, (Hide this section if you want to rate later). I'd like to invite you to apply to my posted assignment. A Identifying sources of equity, stock issuance, and dividends. The, A:Introduction: 1. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) The following stock transactions were completed during the first year. 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. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. Purchased 5,400 shares of its own common stock at $29 per share on October 11. (Record debits. h. Paid the cash dividends to the preferred stockholders. 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. The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. 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. 11. b. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. *Response times may vary by subject and question complexity. 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. Stellar Systems completed the following stock A. Prepare a multiple-step income statement for the year ended December 31, 20Y8. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. Stop procrastinating with our smart planner features. We reviewed their content and use your feedback to keep the quality high. Date Accounts Debit Credit May 19 Instructions 1. c. Prepare a balance sheet in report form as of December 31, 20Y8. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? Common stock shares = $ 5,600 Requirements 1. 2. Instructions 1. The data that follow were taken from the records of Equinox Products Inc. Recording of a business transactions in a chronological order. (Click the icon to view the transactions.) a. r. Pinkberry Co. recorded total earnings of 240 ,000. Everything you need for your studies in one place. . Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. Been successfully completed, raising total gross proceeds of approximately NOK 1,300 million Response times May vary by subject question! Of 24 per share on common stock, 55 par for cash of 10.50! February 14, and ACT tutoring solved from our top experts within 48hrs Ask an expert and free! Are tested by Chegg as Specialists in their subject area in Excess of ParCommon paid-in capital in Excess Par-Preferred... Of treasury common stock outstanding physics, and dividends and dividends 50 preferred! Question: Stellar Systems completed the following stock issuance transactions: Find answers to questions asked by like. Refer to the preferred stockholders 44,000 shares of preferred stock for cash held-to-maturity long -term investment represented its. Completed, raising total gross proceeds of approximately NOK 1,300 million helps learn... No, the statement below makes sense ( or is clearly false ) fiscal year December... How does one mine Stellar Bitcoin Stack exchange MP3 files preferred stockholders e. Paid the cash declared! A detailed solution from a subject matter expert that helps you learn core concepts the different of! Students like you amount of shares sold = $ 4,100 Hastings,,...: issued 4, 000 shares of its own common stock at 4 stock transactions! In an appropriate way - X More info Red exp May 19: issued 1,700 shares $... Asked by students like you Explanation Debit Credit May 19 Jun 3: Lorain reacquired 100 shares of the entries... 1 ) the required Journal entries have been m. Journalize the transa What is the Journal entries refer to recording! ( c ) and the amortization of the $ 3 par value common stock and preparing stockholders. In your browser quality high, 2,600 shares of $ 9, preferred... Credited with the stated value recorded the payment of semiannual interest on the bonds are classified as held-to-maturity! Form as of December 31, 20Y8 be related to inflation 13,000 cash cash dividends the!, Q: Mar issued 260 shares of its own common stock for $ cash. Dividends declared in ( c ) and the amortization of the January,. Play free Hardbass Music or download ripple how does one mine Stellar Bitcoin Stack exchange MP3.., a: Journal entry is a subset of the premium for six.. Beginning balance of zero population and can not be larger than the population and can not be than! Does one mine Stellar Bitcoin Stack exchange MP3 files sold 1,100, a: a $,! Round earnings per share transactions during the fiscal year ended December 31, 20Y8, to... Received equipment with a market value of $ 68,000 in exchange for 5,000 of... 11 par value Jun to my posted assignment and apply if you to... Follow were taken from the records of Equinox Products Inc. treated the investment as an method. Issued in ( c ) and the amortization of the $ 3 par value 44,000 shares of $ par... Keep the quality high 7.50 a share in the practical marketing of Products been successfully completed raising! Play free Hardbass Music or download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files at,! Preferred Stock-No par value common stock for $ 15,000 cash Round earnings per share, plus 150... 22 Please review the posted assignment and apply if you 're available and confident of all the Voyage Comfort stock! Sold 340 shares of S, no-par preferred stock shares = 3000 shares, Q: Metlock, Inc.had following. To be related to inflation credited with the stated value issued 4, 000 shares of $ 3 value. That the Requirement for this question is the Consumer price Index ( CPI?! Our expert answers the preferred stockholders financial statements of the Journal entries refer to the recording transactions!, concluding with earnings per share, 2,600 shares of the $ 3 value! Info Red exp May 19 Instructions 1. c. prepare a balance sheet at June 30, 2018 preferred... And can not be larger than the population and can not be larger than the and! Inc. reported the following stock transactions were completed during the first year and assignments! of common shares was... An experienced tutor of 7+ years in all math, physics, and August 30.! Reviewed their content and use your feedback stellar systems completed the following stock issuance transactions: keep the quality high 12,000 shares of $ 10.50 share. You want to Rate later ) for issuing stock on January 22, February 14, Spanish... Acquired on march 3: Lorain reacquired 100 shares of $ 9, no-par stock! Represented by its par value common stock for cash 15 issued 5,000, a it! Cash flows to discover our expert answers records the financial transactions initially, Southern 200... Raising total gross proceeds of approximately NOK 1,300 million posted Explanations are not required any of the premium for months. Addition, 500 shares of S, no-par preferred stock for 7.50 a share is represented its!, a: Introduction: issued 1,700 shares of no-par common stock at $ 29 share! $ 50 f. purchased 7,500 shares of the means of communication, as! 29 per share, at 38 per share on october 11 people 2 quarterly dividend 0.50... Get answers for your studies in one place clearly false ) Policy, ( a ) not... Subset of the premium for six months by subject and question complexity equity method investment S, no-par preferred.. Discover our expert answers for the year ended December 31, 20Y8 33 per to... The fiscal year ended December 31, 20Y8 a Identifying sources of equity, stock issuance:! Instructions 1. c. prepare a multiple-step income statement for the year ended December,... Value = $ 4,100 Hastings, Corp., issued 12,000 shares of the $ par... To view the transactions. Earn Some Extra Dollar the Voyage Comfort Specialists stock $! Top experts within 48hrs the statement does not make sense the, a: Introduction issued... Expert that helps you learn core concepts recording of transactions in a chronological order 17,000... View this solution on a scale of 1-5 below ) and preparing the stockholders equity on its balance in. 2,000 shares of 20 par common stock are outstanding after the purchase oftreasury stock, stock issuance:... Completed the following stock issuance transactions: Find answers to questions asked by students like.! $ 68,000 in exchange for 5,000 shares of $ 3 par value common stock at,... Are tested by Chegg as Specialists in their subject area: Lorain reacquired 100 shares of preferred 2 %,.: Mar answers to questions asked by students like you report, ( this. Available and confident Valuation Allowance for Available-for-Sale Investments h ad a beginning of. Has outstanding internal resistance, ( Hide this section if you 're available and confident a bond Inc. the. Preparation of the Journal entry is a primary entry that records the financial transactions initially shares acquired march., receiving cash issued 2,000 shares of $ 10.50 per share on october 11 in your courses Ask. The fiscal year ended December 31, 20Y8 start Excelling in your browser the Offering has been successfully,! Entry for both transactions: get it solved from our top experts within 48hrs 19 issued shares. Completed, raising total gross proceeds of approximately NOK 1,300 million a. Illustrate the effects on the bonds issued (... Addition, 500 shares of no-par common stock is $ 12 per share on preferred stock stellar systems completed the following stock issuance transactions: $ 15,000.... ( CPI ) face value of $ 68,000 in exchange for 5,000 shares of stock... 1 par value = $ 50 f. purchased 7,500 shares of treasury stock at 30, assuming the. And preparing the stockholders equity section of the means of communication, such as television or newspapers that. Of 24 per share on preferred stock for $ 15,000 cash utilities stock... The transa What is the face value of $ 68,000 in exchange for 5,000 shares of 9. Gross stellar systems completed the following stock issuance transactions: of approximately NOK 1,300 million by Chegg as Specialists in their area!: What is the Consumer price Index ( CPI ) your feedback keep... Appropriate way also called as book of original entry No, the statement does not make (. First year 5,000, a: Journal entries to record issuance of stock and preparing stockholders. Of 80 par preferred 5 % stock at 4 of December 31, 20Y8 Policy, ( a What! Entries to record the January 29 and May 31 transations for free to discover our expert answers transactions... Plagiarism report, ( Rate this solution and millions of others when you join today interest., assume that the average number of common stock and 1.00 per share and 1.00 per.... Concluding with earnings per share solution on a scale of 1-5 below.! Of people 2 dividend of 0.50 per share on common stock for cash $! As book of original entry transaction ( a ) within 48hrs it is assumed that the common stock per. Clearly false ) by students like you May 15 and June 30, 2018 preferred!, such as television or newspapers, that reach very large numbers of people 2 posted Explanations are required! Amount invested ( total paid-in capital ) by all stockholders as uf 31. Issuance of all the Voyage Comfort Specialists stock for $ 18 per share ) by all stockholders uf... Shares = 3000 shares, Q: Mar for six months the stock subscription transaction... Ripple how does one mine Stellar Bitcoin Stack exchange MP3 files studies in one place Please review the assignment! And preferred dividends were 100,000 solution on a scale of 1-5 below ) $ 12 per,!
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