Analyze each transaction from Issuances of stock by showing its effect on the accounting equation-specifically. Identify the accounts and amounts (including- or -) for each transaction. 1. 1. 2 2 2 Required Information [The following Information applies to the questions displayed below.] Following are the Issuances of stock transactions. 1. A corporation Issued 10,000 shares of $20 par value common stock for $240,000 cash. 2. A corporation Issued 5,000 shares of no-par common stock to its promoters In exchange for their efforts, estimated to be worth $47,000. The stock has a $1 per share stated value. 3. A corporation Issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,000. The stock has no stated value. 4. A corporation Issued 2,500 shares of $50 par value preferred stock for $172,000 cash. 3. 3. 4. 4. Assets = = = = = = = = Liabilities + + + + + + + + + + Equity

Analyze each transaction from Issuances of stock by showing its effect on the accounting equation-specifically. Identify the accounts and amounts (including- or -) for each transaction. 1. 1. 2 2 2 Required Information [The following Information applies to the questions displayed below.] Following are the Issuances of stock transactions. 1. A corporation Issued 10,000 shares of $20 par value common stock for $240,000 cash. 2. A corporation Issued 5,000 shares of no-par common stock to its promoters In exchange for their efforts, estimated to be worth $47,000. The stock has a $1 per share stated value. 3. A corporation Issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,000. The stock has no stated value. 4. A corporation Issued 2,500 shares of $50 par value preferred stock for $172,000 cash. 3. 3. 4. 4. Assets = = = = = = = = Liabilities + + + + + + + + + + Equity

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Description: please fill this in !Analyze each transaction from Issuances of stock by showing its effect on the accounting equation-specifically. Identify the accountsand amounts (including -or-) for each transaction.1.1.2.2Required Information[The following info

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. Analyze each transaction from issuances of stock by showing its effect on the accounting equation specifically, identify the accounts and amounts (including + or -) for each transaction. 1. 2. 2. 2. 3. 3. 4. [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $10 par value common stock for $84,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has a $1 per share stated value. 4 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $50 par value preferred stock for $138,500 cash. Assets = = Liabilities + + Equity
1. A Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. 2. 2. Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has a $1 per share stated value. 2. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $25 par value preferred stock for $87,750 cash. 3. 3. 4. 4. Assets = = = = = = Liabilities + +++++++ Equity
Required 1. Explain the transaction(s) underlying each journal entry (a) through (d). 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $695,000?
Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Transaction a. b. C. d. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital Debit 270,000 170,000 44,000 18,500 81,800 136,000 Credit 245,000 25,000 126,000 44,000 59,900 54,400 30,000 80,000 56,000
Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Transaction a. b. C. d. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Debit Credit 280,000 180,000 44,000 17,000 81,800 138,000 Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 240,000 40,000 126,000 54,000 59,600 53,200 30,000 78,000 60,000
Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Transaction a. 2 General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital Debit 280,000 180,000 43,500 19,000 82,300 148,000 Credit 230,000 50,000 126,000 54,000 59,900 54,900 30,000 77,000 71,000
es Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Transaction a. b. C. d. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital Debit 270,000 180,000 46,000 18,000 82,400 134,000 Credit 230,000 40,000 127,000 53,000 59,700 56,700 30,000 77,000 57,000
Required information [The following information applies to the questions displayed below] Markus Company's common stock sold for $5.25 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this year's financial statements. Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net Income This Year $ 1,095,000 $ 635,100 $ 459,900 $313,875 $ 15,500 $ 208,862 Ending Balance $ 49,000 $ 92,000 $76,300 $ 217,300 $ 801,000 $ 85,500 $206,000 $ 165,000 $ 595,000 $ 801,000 Beginning Balance: $ 44,200 $ 68,700 $ 92,000 $ 204,900 $ 875,400 $ 90,000 $ 185,400 $ 165,000 $ 690,000 $ 875,400
The following journal entries are found in a corporation's ledger: 11/15/17 Cash dividends 44,500 Cash dividends payable 44,500 1/15/18 Cash dividends payable 44,500 Cash 44,500 Which of the following statements is true? Select one: a. The date of record is 11/15/17. b. The date of payment is 11/15/17. c. The declaration date is 12/31/17. d. The date of payment is 1/15/18.
The declaration, record, and payment dates in connection with a cash dividend of $101,600 on a corporation’s common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess…
Q)1- Prepare the necessary journal entry for each of the following transactions for Nadim corporation. A). Purchased 5,000 shares of the company’s common stocks as treasury stock, paying cash of $18 per share. B). Sold 3,000 shares of the treasury stock for cash of $22 per share. C). Sold the remaining treasury stock for cash of $10 per share. Q)2- What is treasury stock? What type of account is Treasury stock, and what is the account’s normal balance