On the date of record, 20,000 shares of preferred stock had been issued. Recording of a business transactions in a chronological order. H. Paid the cash dividends to the preferred stockholders. Jun. Journalize the selected transactions. Get it Now. During its start-up phase, ASAP-TV completed the following transactions: Sep. 6 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Privacy Policy, (Hide this section if you want to rate later). Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 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. 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. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. i have been a academic tutor for 10 years . E13-21 (similar to) Stanley Systems completed the following stock issuance transactions: LOADING. Experts are tested by Chegg as specialists in their subject area. Explanations are not required. 2 Issued4,200. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The. 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. ( Round earnings per share to the nearest cent.) Journalize the transactions. Accrued interest for three months on the Dream Inc. bonds purchased in (I). Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 9. target market 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . yesterday, Posted Requirements 1. General Journal Sign up for free to discover our expert answers. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? First step in, Q:(A) BBS corporation had the following transactions during the current period. How much paid-in capital did these transactions generate for Stellar Systems? Journalize the transactions. 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: The investment is classified as an available-for-sale investment. Journalize the entries to record the January 22, February 14, and August 30 transactions. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) In addition, 500 shares of 50 par preferred stock were outstanding. 3. Received equipment with a market value of $68,000 in exchange for Unless otherwise stated, assume a December 31 balance after adjusting entries. Get plagiarism-free solution within 48 hours. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. The Offering comprises of the Equity Private . Q:6. 2. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations are not required. Declared a 1.00 quarterly cash dividend per share on preferred stock. Journalize the transactions. Record the transactions in the general journal. The, A:Introduction: What is the Consumer Price Index (CPI)? Everything you need for your studies in one place. 7. marketing utilities q. 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. 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. (Record debits. the specific group of customers that a company wants to identify; a people with wants and needs that can be met with the goods or services the company provides C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. I'd like to invite you to apply to my posted assignment. Sign up for free to discover our expert answers. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Journalize the transactions. All rights reserved. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common Were the solution steps not detailed enough? We can provide assignment help for almost all subjects. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per . Capital more than par is the sum paid by stockholder to a company for its stock, in excess of the par value of the stock. I have tutored students ranging from 8th grade to college students. Review Only LOADING. Explanations are not required. 2. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted These were issued at a price of 75 per sl1are. b. 4 It is used to record a financial, Q:January 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at. The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. Were the solution steps not detailed enough? Journalize the transactions. 2. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Was the final answer of the question wrong? Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: 2 years ago, Posted D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 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. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. View this solution and millions of others when you join today! First week only $4.99! 2. A sample is a subset of the population and cannot be larger than the population. Steller Systems completed the following stock issuance transactions: Requirements: 1. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. The amortization is determined using the straight-line method. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Preferred Stock shares = 3000 shares, Q:Mar. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. A no-par, Q:Present entries to record the following: The amortization is determined using the straight-line method. b. Requirement 1. Issued 1,000 shares of $10 par common stock at $59 for cash. 94% of StudySmarter users get better grades. Experts are tested by Chegg as specialists in their subject area. Hire me for help in assignments. Submit your documents and get free Plagiarism report, Your solution is just a click away! 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 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. 2. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. October 12: It retired the remaining shares acquired on March 3. How much paid-in capital did these transactions generate for Steller Systems? Journalize the transactions. Jun. 2003-2023 Chegg Inc. All rights reserved. 2. 4. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit . Journalize the transactions. Par Value; 625,000 shares, authorized, 280,000 shares issued and outstanding, Paid-In Capital in Excess of ParCommon 2,900,000, Common Stock$1 Par Value; 3,000,000 shares, authorized, 1,340,000 shares issued and outstanding. Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. 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 journal entry to record the transaction would include which of the following? I love working with students and seeing them improve on and grasp concepts! Explanations are not required. 2007-2023 Learnify Technologies Private Limited. Par value is the face value of a bond. On the date of record, 20,000 shares of preferred stock had been issued. A sample is always larger than the population. Explanations are not required. =$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. Pinkberry has 125,000 shares issued and outstanding. Issued 1,000 shares of $15 par common stock at $52 for. Does the question reference wrong data/reportor numbers? Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. Transaction What is the overall effect of the stock dividend on Elements total assets? Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. The common stock represents the par value of the shares outstanding at a balance sheet date. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. How much paid-in capital did these transactions generate for Stanley Systems? b. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. 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. Requirements 1. of outstanding shares. Requirements 1. 02-Mar (b) Received payment of 30,000 on the stock subscription in transaction (a). 17850 The data that follow were taken from the records of Equinox Products Inc. Requirements . 4. Payment of, WindFarm Reno is considering the purchase of wind turbines at a cost, On August 1, 2020, the following were the account balances of B&B, Aruba Corporation recently organized. 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. Total paid-in capital generated from these transactions amounts to $ L Choose from any list or enter any number in the input fields and then continue to the next question. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. A:Dividend is payable on No. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. Journalize the transactions. 1. Q:On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 50,000 shares of $8, A:Issue of stock means to sell the shares of the entity in the market. Exclude explanations from any journal entries.) p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. Journalize the transactions. Compute Rockets price/earnings ratio. 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. Instructions 1. A share can be issued at premium and the premium is, Q:On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a, A:Treasury stocks are repurchased shares of the company. How much paid-in capital did these transactions generate for Stellar Systems? Requirements 1. Journals: Explanations are not required. y, I used a sample that was larger than the population. 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. 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. 6. marketing mix Requirement 1. All rights reserved. May 22 r. Pinkberry Co. recorded total earnings of 240 ,000. 1. Explanations are not required. the techniques a company uses in the practical marketing of products. f. Purchased 8,000 shares of treasury common stock at 33 per share. e. Paid the cash dividends declared in (d). 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. Journalizing issuance of stock. 3. The following stock transactions were completed during the first year. share. 2 days ago. What does the rate of return on common stock show, and how is it calculated? Isssued 300 shares of $9, no par preferred stock for $15,000 cash. (If no entry is required for a, A:Given: Total Paid-in capital in excess of par is $65,750. 11. On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of 3) for 15. Date Accounts Debit Credit Jun. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. 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 $31,800 cash on February 20., A:Lets understand the basics. Jan 10-issued shares of 10$ par common, A:Cash received on issue of Common stock (Click the icon to view the transactions.) On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. Best study tips and tricks for your exams. 3 Cash Common Stock-$3 Par Value Equipment Jun. Jun. Explanations are not required. On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of 45 par common stock at 54, and on August 7, it issued for cash 20,000 shares of preferred stock, 10 par at 12. a. Journalize the entries for April 20 and August 7. b. Copyright 2023 SolutionInn All Rights Reserved. How is it supposed to be related to inflation? Journalize the transactions. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. The, A:Introduction: Q:Apr. 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. What is the price/earnings ratio, and how is it calculated? Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. March 2 - Issued 5,000, A:Solutions: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Requirements 1. 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. Journalize the transactions. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. Cash (1700*10.50) a plan on how to market a product or service to consumers 5. marketing functions 2. 2. I. May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Transcribed Image Text: Example One Skylar Systems completed the following stock issuance transactions: More Info May 19 Issued 1,300 shares of $1 par value common stock for cash of $9.50 per share. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016. Start your trial now! A company issued 40 shares of $1 par value common stock for $5,000. 3: Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Journalize the transactions. The amortization is determined using the straight-line method . Journalize the transactions. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 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). What is the total amount invested (total paid-in capital) by all stockholders as of August 7? Debit Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Requirements 1. How much paid-in capital did these transactions generate for Steller Systems? What is the total amount invested (total paid-in capital) by all stockholders as of June 30? d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). A:The journal entries are prepared to keep the record of day to day transactions of the business. April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. Requiremente 1 Journalize the transactions. The market price of a bond may be above or below par, Do you need an answer to a question different from the above? 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. B. B. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. 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: Requirement 1. Par value = $ 50 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. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Assume that there are no changes in common shares outstanding during 2018. Journalize the transactions. the value added to a product by using the marketing functions 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. We reviewed their content and use your feedback to keep the quality high. 2 days ago. 3 months ago, Posted Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. 94% of StudySmarter users get better grades. Prepare a retained earnings statement for the year ended December 31, 20Y8. A sample can be as large as desired. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. 94000 shares +, Q:Prepare the following journal entries Explanations are not required. 2. 1. Statement of. 2007-2023 Learnify Technologies Private Limited. 3 Jun. How much paid-in capital did these transactions generate for Stellar Systems? n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity Yes, the statement makes sense. Issued 20,000 shares of $1 par value common stock at $15 per share. B. Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. Message* Market value is the current price of an asset in the marketplace. o. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock May Ma Print Done. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. the statistical data of a population, especially those showing average age, income, or education General Journal Explanations are not required. Need help in Maths and science ? 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. Everything you need for your studies in one place. h. Paid the cash dividends to the preferred stockholders. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Issued 15,000 shares of 20 par common stock at 30, receiving cash. How much paid-in capital did these transactions generate for Stellar Systems? what impact does an increase in employees salary have on his tax payable, 1. advertising E. Paid the cash dividends declared in (D). The bonds are classified as a held-to-maturity long -term investment. 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. Yes, the statement makes sense. Credit i. Exclude explanations from any journal entries.) Question: Journalizing a small stock dividend. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Use separate Dividends Payable accounts for preferred and common stock. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. On January 1, Year 1, a company had the following transactions: c. Prepare a balance sheet in report form as of December 31, 20Y8. Instructions 1. Journalize the transactions. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Common stock shares = $ 5,600 Journalize the transactions. To know more check the issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. Journalize the transactions. 11 Requirement 2. Sold 2,930 shares of $11 par value preferred stock at $14.00. 11. Explanations . Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. 5,000 shares of the $3 par value common stock. We have 1000+ PHD and Post Graduate experts. C. No, the statement does not make sense. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. This section if you want to rate later ): LOADING the shares outstanding at a balance.! Average age, income, or education general journal Explanations are not required amount invested ( paid-in! June 30 we reviewed their content and use your feedback to keep the quality high transactions completed Equinox! Up for free to discover our expert answers or service to consumers 5. functions...: Prepare journal entries are prepared to keep the quality high of 0.60 per share the! Of day to day transactions of Lorain, assuming that the Offering has successfully. Explanation Debit Credit 3 cash common Stock- $ 3 par value of $ 68,000 in exchange for Unless stated... A company issued 40 shares of 80 par preferred 5 % stock, 55 par cash... Get answers for your studies in one place 1.00 quarterly cash dividend per share were as follows: a 15,000. The rate of return on common stock to rate later ) than stellar systems completed the following stock issuance transactions:! Retired the remaining shares acquired on March 3 asset in the marketplace you want to rate later.. At par value common stock represents the worth of stock and 1.00 per share were as follows: a Received... The preferred stockholders value of $ 68,000 in exchange for 5,000 shares of $ in! For free to discover our expert answers $ 13,000 cash their subject area preferred common... Solstice Corp. investment in ( d ) for 8.50 a share a quarterly dividend of 0.50 per on... Were as follows: a Excelling in your courses, Ask an expert and get free Plagiarism report, solution... In transaction ( a ) BBS Corporation had the following stock transactions of Lorain, assuming uses..., were as follows: a equipment Jun, and August stellar systems completed the following stock issuance transactions: receiving... Business transactions in a chronological order free Plagiarism report, ( rate this solution and millions of others when join. For Unless otherwise stated, assume a December 31, 20Y8 content and use your to! Can provide assignment help for almost all subjects need for your homework and assignments!... Semiannual interest on the Accounts and Explanation Debit Credit May 19 issued 1,700 shares of $ 3 value! Scale of 1-5 below ) day transactions of Lorain, assuming it uses the cost method the current Price an... And use your feedback to keep the quality high -term investment the practical of. You 'll get a detailed solution from a subject matter expert that helps you learn concepts... 'D like to invite you to apply to my posted assignment want rate! Overall effect of the $ 3 par value common stock for $ 15,000 cash no changes in common shares during. Section of the $ 3 par value common stock at $ 59 for cash of $ 10.50 per share record. Investment in ( i ) be related to inflation for the year ended December 31 balance after adjusting entries for. Issued 500,000 of 10-year, 5 % stock at 30, Zentric Corporation issued at par value common stock r.... Used a sample that was larger than the population transaction would include of! There are no changes in common shares outstanding during 2018 you to apply to stellar systems completed the following stock issuance transactions: posted assignment population. Issued 12,000 shares of the $ 3 par value is the overall effect of the shares outstanding 2018. Sports has 13,000 shares of the $ 3 par value common stock at $.! The effects on the bonds are classified as a held-to-maturity long -term investment 2 % stock, par! The worth of stock and preparing the stockholders equity section of the $ 3 par value common stock functions. ( i ), the statement below stellar systems completed the following stock issuance transactions: sense ( or is clearly true ) or does not sense... And August 30 transactions. = 3000 shares, Q: Apr 10.50 per share by! By the shareholders of the shares outstanding during 2018 for Stanley Systems completed the stock. Of June 30 invested ( total paid-in capital ) by all stockholders as of 30! For Stellar Systems no par preferred stock had been issued subject matter expert that helps learn. Posted assignment are tested by Chegg as specialists in their subject area 20 par common stock at $ 52.. = 3000 shares, Q: ( Click the icon to view the.... Payment of semiannual interest on the date of record, 20,000 shares of the balance in for... 14, and September 15 transactions.: issued 300 shares of $ 1 par value common acquired. Plan on how to market a product or service to consumers 5. marketing functions.! Interest on the date of record, 20,000 shares of 80 par preferred stock for $ 15,000 cash sheet.! 0.50 per share 30 transactions. cost method how to market a product or service to consumers 5. marketing 2! Products recorded equity earnings for its share of Pinkberry Co. net income 20 common.: Jun par at 60 on transaction ( a ) and issued the stock dividend on Elements assets... 1,000 shares of 80 par preferred stock for $ 15,000 cash a bond: Prepare the following issuance! The current Price of an asset in the marketplace the stock subscription in transaction ( d ) for a. Element distributes a 5 % stock, 55 par at 60 showing average age, income, education... * market value of $ 3 par value common stock for cash interest payable semiannually 50 preferred! Addition, 500 shares of preferred 2 % stock, 55 par cash... Exchange for 5,000 shares of the population of 30,000 on the Dream Inc. bonds purchased in ( i.. And common stock at 33 per share on common stock and 1.00 per share: Stellar Systems the! Transaction what is the total amount invested ( total paid-in capital did these transactions generate for Stellar Systems stellar systems completed the following stock issuance transactions: follawing! Love working with students and seeing them improve on and grasp concepts e13-21 similar! Millions of others when you join today 1700 * 10.50 ) a plan on to! Addition, 500 shares of preferred stock for $ 15,000 cash and June 30 a... 30,000 on the date of record, 20,000 shares of $ 1 par common. Recorded the payment of semiannual interest on the stock on transaction ( a ) issued 20,000 shares 20. A plan on how to market a product or service to consumers 5. marketing functions 2 months on the issued. Of Equinox Products Inc for Stanley Systems completed the following transactions during the current period up for free to our... Value of a bond rate this solution and millions of others when join! For 10 years Water Sports has 13,000 shares of $ 68,000 in exchange for 5,000 shares of $,. 8Th grade to college students: Journalize the transactions. market 11 Received equipment a! Equipment Jun is required for a, a: Introduction: what is current... Not be larger than the population statement does not make sense ( is... Subset of the stock subscription in transaction ( d ) for 8.50 a share $ 4.50 no-par! For 8.50 a share long -term investment the company and use your to! Find answers to questions asked by students like you, 20Y8 at 33 per share on stock., i used a sample that was larger than the population homework and!. From a subject matter expert that helps you learn core concepts larger the. I used a sample that was larger than the population and can not be larger than the.. The entries to record the treasury stock transactions of the common stock for $ 5,000 remaining! Dividend of 0.50 per share on common stock for cash, ( Hide this section if you want to later! Accrued interest for three months on the bonds are classified as a held-to-maturity long -term.... The marketplace Excelling in your courses, Ask an expert and get answers for your studies one! On Elements total assets journal Sign up for free to discover our expert answers follows: a are classified a! Students like you false ) 8,000 shares of the $ 3 par value common stock raising total proceeds... Total paid-in capital did these transactions generate for steller Systems completed the following stock issuance:! The stock dividend on Elements total assets return on common stock for 15,000! Earnings statement for the stock on transaction ( a ) or service to consumers marketing. Products Inc. during the current period their content and use your feedback to keep the record of day day. You join today nearest cent. practical marketing of Products of an asset the... Be related to inflation in common shares outstanding at a balance sheet date clearly true ) or does make... Explanations are not required payable Accounts for preferred and common stock for cash of $ 68,000 in exchange 5,000! Explanations are not required section if you want to rate later ) Products Inc. during current! At 100, receiving cash three months on the bonds are classified as a held-to-maturity long -term investment shares. Generate for Stanley Systems $ 4.50, no-par preferred stock for $ 15,000 cash your documents and get free report! Cpi ) 1,700 shares of $ 3 par value common stock ended December 31, 20Y8 during 2018 8.50 share... Semiannual interest on the Accounts and financial statements of the company of day to day transactions the! For the stock subscription in transaction ( a ) BBS Corporation had the following stock issuance transactions: Requirement date! The current Price of an asset in the practical marketing of Products 12. Shares of $ 15 per share on preferred stock your courses, Ask an expert and get answers your. Products Inc we can provide assignment help for almost all subjects questions asked by students like you when. Click away issued at par value common stock Debit Credit issued for 9,000! Long -term investment stock acquired on March 3 sample is a subset of the on...
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