issued 10,000 shares of? no-par common stock for $11 per share. Read the requirements
Requirement 1a. Record issuance of the stock if the stock is true? no-par stock. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)
Date
Accounts and Explanation
Debit
Credit
a.
Requirement 1b. Record issuance of the stock if the stock has stated value of ?$33
per share. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)
Date
Accounts and Explanation
Debit
Credit
b.
Requirement 2. Which type of stock issuance results in more total? paid-in capital?
?
Both result in the same amount of paid-in capital.
The no-par stock.
The stock with a stated value of $3 per share.
issued 10,000 shares of? no-par common stock for $11 per share. Read the requirements
Requirement 1a. Record issuance of the stock if the stock is true? no-par stock. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)
| Date | Accounts and Explanation | Debit | Credit | ||
| a. | |||||
Requirement 1b. Record issuance of the stock if the stock has stated value of ?$33
per share. ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)
| Date | Accounts and Explanation | Debit | Credit | ||
| b. | |||||
Requirement 2. Which type of stock issuance results in more total? paid-in capital?
?
Both result in the same amount of paid-in capital.
The no-par stock.
The stock with a stated value of $3 per share.
Related questions
BrightBright
âSchools, Inc. is authorized to issueâ 200,000 shares of
â$22
par common stock. The company issued
78 comma 00078,000
shares at
$ 6$6
per share. When the market price of common stock was
$ 8$8
perâ share,
BrightBright
declared and distributed a
1010â%
stock dividend.â Later,
BrightBright
declared and paid a
$ 0.30$0.30
per share cash dividend.Read the requirements
LOADING...
.
Requirement 1. Journalize the declaration andthe distribution of the stock dividend.â (Record debitsâ first,then credits. Select the explanation on the last line of thejournal entryâ table.)
âFirst, journalize the declaration of the stock dividend.
Date | Accounts and Explanation | Debit | Credit | ||||
Now journalize the distribution of the stock dividend.
Date | Accounts and Explanation | Debit | Credit | ||
Requirement 2. Journalize the declaration andpayment of the cash dividend.â (Record debitsâ first, then credits.Select the explanation on the last line of the journal entryâtable.)
Begin by journalizing the declaration of the cash dividend.
Date | Accounts and Explanation | Debit | Credit | ||
Now journalize the payment of the cash dividend.
Date | Accounts and Explanation | Debit | Credit | ||
Prepare the journal entry to record Jevonte Companyâs issuanceof 43,000 shares of its common stock assuming the shares havea: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| a. | $2 par value and sell for $21cash per share. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| b. | $2 stated value and sell for $21 cash per share. Journal Entry Worksheet Record the issuance of 43,000 shares of common stock assumingthe shares have a $2 par value and sell for $21 cash per share.
*Enter debits before credits Journal Entry Worksheet Record the issuance of 43,000 shares of common stock assumingthe shares have a $2 par value and sell for $21 cash per share.
*Enter debits before credits
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Rodriguez Corporation issues 6,000 shares of its common stockfor $63,500 cash on February 20. Prepare journal entries to recordthis event under each of the following separate situations. |
| 1. | The stock has a $4 parvalue. |
| 2. | The stock has neither par norstated value. |
| 3. | The stock has a $2 statedvalue. |
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stockfor $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated valuecommon stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stockfor $63,500 cash.
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|
*Enter debits before credits
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stockfor $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated valuecommon stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stockfor $63,500 cash.
| |||||||||||||||||||||||||
|
*Enter debits before credits
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stockfor $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated valuecommon stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stockfor $63,500 cash.
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|
*Enter debits before credits
| Match each description 1 through 6 with the characteristic ofpreferred stock that it best describes in the dropdown next to eachdescription.
|
Ch. 8 #4
Prepare the journal entries to record each of the below transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
1.The issuance of common stock and preferred stock on January 1, 2016.
2.The declaration of dividends on December 28, 2017.
3.The payment of dividends on February 12, 2018.
Record stock issuances.
Record the declaration of dividends.
Record the payment of dividends.
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|
*Enter debits before credits
Record the declaration of dividends.
Record the payment of dividends.
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|
*Enter debits before credits
Record the payment of dividends.
| |||||||||||||||||||||||||
|
*Enter debits before credits
b. Of the total amount of dividends declared during 2017, how much will be received by preferred shareholders?
