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Question 8 Roca Company originally issued 30,000 shares of $5 par common stock for $240,000 on...
Roca Company originally issued 30,000 shares of $5 par common stock for $240,000 on January 3,...
Roca Company originally issued 30,000 shares of $5 par common
stock for $240,000 on January 3, 2020. Roca purchased 1,500 shares
of treasury stock for $15,000 on November 2, 2020. On December 6,
2020, 600 shares of the treasury stock are sold for $7,200.
Prepare journal entries to record these stock transactions.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. Record journal
entries in the order presented in the
problem.)
No.
Account Titles...
Dominica Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020,...
Dominica Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Issued 400,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Journalize the transactions for Dominica Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)...
Pina Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2020,...
Pina Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2020, Pina reacquired 220 shares at $86 per share. On November 1, Pina reissued the 220 shares at $77 per share. Pina had no previous treasury stock transactions. Prepare Pina's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account...
Sunland Company has 57,000 shares of $11 par value common stock outstanding. It declares a 13%...
Sunland Company has 57,000 shares of $11 par value common stock outstanding. It declares a 13% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Sarasota Corporation purchased 3,500 shares of its $12 par value common stock for $234,500 on August...
Sarasota Corporation purchased 3,500 shares of its $12 par value common stock for $234,500 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,100 shares of treasury stock for cash at $73 per share. Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Exercise 11-13 On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and...
Exercise 11-13 On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 Issued 22,500 additional shares of common stock for $18 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If ne entry...
Orley Company had the following transactions. 1. Issued 5,000 shares of common stock with a stated...
Orley Company had the following transactions. 1. Issued 5,000 shares of common stock with a stated value of $10 for $130,000. Issued 2,000 shares of $100 par preferred stock at $108 for cash. 2. Prepare the journal entries to record the above stock transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2.
Bramble Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares...
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No Entry"
for the account titles and...
Roca Company originally issued 30,000 shares of $5 par common
stock for $240,000 on January 3, 2020. Roca purchased 1,500 shares
of treasury stock for $15,000 on November 2, 2020. On December 6,
2020, 600 shares of the treasury stock are sold for $7,200.
Prepare journal entries to record these stock transactions.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. Record journal
entries in the order presented in the
problem.)
No.
Account Titles...
Pina Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2020, Pina reacquired 220 shares at $86 per share. On November 1, Pina reissued the 220 shares at $77 per share. Pina had no previous treasury stock transactions. Prepare Pina's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account...
Sunland Company has 57,000 shares of $11 par value common stock outstanding. It declares a 13% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Exercise 11-13 On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 Issued 22,500 additional shares of common stock for $18 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If ne entry...
Orley Company had the following transactions. 1. Issued 5,000 shares of common stock with a stated value of $10 for $130,000. Issued 2,000 shares of $100 par preferred stock at $108 for cash. 2. Prepare the journal entries to record the above stock transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2.
Bramble Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares of $50 par value preferred
stock. The preferred stock was originally issued at $60 per share.
The common stock is trading at $24 per share at the time of
conversion.
Record the conversion of the preferred stock. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No Entry"
for the account titles and...
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