Alanae Inc issues 500 common shares to the organizers of its corporation to pay for their services valued at $5,000. What is included in the journal entry to record this transaction? O a. O b. C. O d. A debit to an asset account A credit to an expense account A credit to a liability account A credit to an equity account
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- On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 shares of its $25 par value common stock. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 shares of its $25 par value common stock. Note: Enter debits before credits. Date Feb. 20 General Journal Debit Credit2. The sale of 100 shares of stock for $8,500 by the Sims Corporation is recorded as a credit to which account? InbunaThe journal entry for the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organızing the corporation includes a credit to O a. Organizational Expenses O b. Goodwill O c. Common Stock O d. Cash
- 1. Refer to additional information (b) only Prepare the following general ledger accounts for the year ended 31 July 2022: •Bank •Application and allotment •Share Capital- Class A •Non Current Liability- Class C 2. Refer to additional information (c) Calculate the number of Class B shares in issue at the beginning of the financial year. 3. Refer to additional information (d) Prepare the dividends and shareholders for dividends accounts as it would appear in the general ledger for the year ended 31 July 2022The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organizing the corporation includes a credit to Oa. Organizational Expenses. b. Cash. c. Goodwill. d. Common Stock. 4:07 PM 12/20/2019A corporation issued 250 shares of its $5 par value common stock in payment of a $3,300 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Multiple Choice O O A $1,250 debit to Organization Expenses. A $3,300 credit to Cash. A $3,300 debit to Common Stock. A $3,300 credit to Common Stock. A $2,050 credit to Paid-in Capital in Excess of Par Value, Common Stock.
- How would I journalize the following transaction? Mar. 2 Issued 6,100 shares of $5 par value common stock to attorneys in payment of a bill for $36,600 for services performed in helping the company to incorporate.Read the transactions carefully and prepare the Journal Entry. Med-care incorporated is a health insurance company. The following account balances appear on the statement of financial position of Doc med-care Incorporated. Ordinary Shares P10 par, P400,000; Share Premium Ordinary, P42, 500; Retained Earnings P299,500. The board of Directors declared a 3 pesos dividend per share. Required: Journalize the entriesto record The declaration of the Dividend The issuance of the dividendXYZ Ltd issued 2,000,000 ordinary shares of Sh. 20 at Sh. 23 payable as follows: On application sh 10, On first call and final call sh 3. All the monies were duly received. Required Prepare an open journal entries to record the above transactions Prepare ledger accounts Extract a balance sheet
- Thomas Company is issuing 4 000 ordinary shares, payable by instalments. Investors must pay $10 per share on application, $5 per share on allotment and there will be a final call of $2 payable at a later date to be decided by directors. The journal entry to record the application will be: Select one: O a. Debit Bank Trust account, credit Application. O b. Debit Cash, credit Allotment. O c. Debit Cash, credit Ordinary share capital. O d. Debit Application, credit Bank Trust Account.How I recorded the following transactions in general journal for BM, Inc. Include with a brief explanation of the transactions as part of each journal entry. sept 1 the BM, In issued 5,000 additional shares of capital stock to doctor Matos at $ 72 per share. sep2 the bm purchased diasgnostic equipment. he equipment cost $300,000, of which $120,000 was paid in cash; a note payable was issued for the balance. sept 3issued a check for $7,200 in full payment of an account payable to Figueroa laboratories sept10 purchased surgical supplies for $4,800. payment is not due until November 28. sept20 collected an $96,000 account receivable from health two insurance company. sept30 declared and paid a $6000,000 cash dividend to stockholders.On April 1st, Shareholders invested OMR 60,000 cash in exchange for ordinary :shares. The Journal Entry should be اخترأحد الخیارات a. DEBIT Cash OMR 60,000 and CREDIT Equipment OMR 60,000 b. DEBIT Cash OMR 60,000 and CREDIT Share Capital OMR 60,000 c. DEBIT Cash OMR 60,000 and CREDIT Accounts Receivable OMR 60,000 d. DEBIT Share Capital OMR 60,000 and CREDIT Cash OMR 60,000 e. None of the answers are correct