11. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. How much paid-in capital did these transactions generate for Stellar Systems? After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Privacy Policy, (Hide this section if you want to rate later). Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: 2 years ago, Posted Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. i have been a academic tutor for 10 years . I have tutored students ranging from 8th grade to college students. share. Were the solution steps not detailed enough? Journals: All rights reserved. On December 30, Southern purchased 200 shares of treasury stock at $15 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. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 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. j. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. Were the solution steps not detailed enough? b. 2. demographics the act or practice Q: Susie Systems completed the following stock issuance transactions:May 19 Issued 2,000 shares; Q: Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700; Q: Everyone who suffers a breach of contract still has a duty to; Q: Give an example of status distorting the communication process. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. the statistical data of a population, especially those showing average age, income, or education TDR Systems completed the following stock issuance transactions: Requirements 1. development, promotion, and distribution of products that satisfy people's needs and wants Issued 15,000 shares of 20 par common stock at 30, receiving cash. Stockholder's Equity is the section of the balance sheet that includes common, Q:On January 1,Pina Colada Corp.had94,000shares of no-par common stock issued and outstanding. Balance sheet 2. During the year, the following stock transactions occurred: 1. 5,000 shares of the $3 par value common stock. 2. 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. We have 1000+ PHD and Post Graduate experts. Recording of a business transactions in a chronological order. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. 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. 02 per share on December 31, 2016. Unless otherwise stated, assume a December 31 balance after adjusting entries. 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. 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. You can specify conditions of storing and accessing cookies in your browser. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Explanations are not required. 3 years ago, Posted On the date of record, 20,000 shares of preferred stock had been issued. Was the final answer of the question wrong? Issued 10,000 shares of $2 par, A:A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,, Q:a. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. a plan on how to market a product or service to consumers 2. 12 Issued 400 shares of preferred stock for cash of $23,000. Market value is the current price of an asset in the marketplace. The. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Jun. j. a. 5. marketing functions Total Paid-in capital in excess of par is $65,750. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Explanations are not required. Exclude explanations from any journal entries.) What does the rate of return on common stock show, and how is it calculated? 2. H. Paid the cash dividends to the preferred stockholders. In my statistical stud p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Requirements 1. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. J. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Hire me for help in assignments. How is it supposed to be related to inflation? and internal resistance, (a) What is a statement of cash flows? Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. 3 Jun. Chapter 13, Short Exercises #21. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. . 3 Jun. Privacy Policy, (Hide this section if you want to rate later). Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. of outstanding shares. 3. marketing We can provide assignment help for almost all subjects. Element distributes a 5% stock dividend when the market value of its stock is $15 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. Requirement 1. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Does the question reference wrong data/reportor numbers? Assume Rockets market price of a share of common stock is $12 per share. 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. 6. marketing mix 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. b. Jones 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. 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. Journalize the transa Requirements 1. How much paid-in capital did these transactions generate for Stellar Systems? First week only $4.99! Date Accounts Debit Credit Jun. - X More info Red exp May 19 Jun. Best study tips and tricks for your exams. e. Paid the cash dividends declared in (d). 9. target market A:It is assumed that the requirement for this question is the preparation of the journal entries. f. Purchased 8,000 shares of treasury common stock at 33 per share. Jun. 11 Received inventory with a. Requirements. Journalize the selected transactions. A company issued 40 shares of $1 par value common stock for $5,000. Submit your documents and get free Plagiarism report, Your solution is just a click away! 9. Requirement 1. What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? Journalize the selected transactions. Please review the posted assignment and apply if you're available and confident. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Journals: g. Declared a 1.00 quarterly cash dividend per share on preferred stock. *Response times may vary by subject and question complexity. b. Credit Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. Explanations are not required. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. 94% of StudySmarter users get better grades. Yes, the statement makes sense. Verified answer. Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Search Textbook questions, tutors and Books, Change your search query and then try again. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. . Par value is the face value of a bond. How much paid-in capital did these transactions generate for Stellar Systems? Preferred Stock shares = 3000 shares, Q:Mar. Jun. Explanations are not required. a. Computing earnings per share and price/earnings ratio. The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. Requirements . 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: 4. marketing concept The, A:Introduction: Journalize the entries to record the January 22, February 14, and August 30 transactions. The sample size should always equal the population size. The journal entry to recordthe, A:There are two type of stock or shares that are being issued by the company for raising of funds from, Q:Prepare the journal entries to record each of the above transactions. 2. Experts are tested by Chegg as specialists in their subject area. Journalize the transactions. Requirements 1. The common stock represents the par value of the shares outstanding at a balance sheet date. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common A:Dividend is payable on No. 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. Journalize the transactions. Explanations are not required. Jun. Journalize the transactions. Explanations are not required. 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. Journalize the transactions. 1. Explanations are not required. (If no entry is required for a, A:Given: Steller Systems completed the following stock issuance transactions: Jun. yesterday, Posted 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. Received equipment with a market value of $68,000 in exchange for Paid the cash dividends to the preferred stockholders. April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. Explain. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. Q:6. Journalize the transactions. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. Hello! The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity Journalize the transactions. Journalize the transactions. 94000 shares +, Q:Prepare the following journal entries The amortization is determined using the straight-line method. D. No, the statement does not make sense. A sample is a subset of the population and cannot be larger than the population. A:Please find the answers to the above questions below: Q:On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of, A:The organization can raise funds for the operation by issuing common stock, preferred stock for the, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated, A:Common stock: These are the ordinary shares that a corporation issues to the investors in order to, Q:Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $4 no-par, A:The question asks for accounting for stockholders' equity in the company's books. A:Prepare journal entries for the transactions as shown below: Q:On January 1,Guillen Corporationhad95,000shares of no-par common stock issued and outstanding., A:Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting, Q:Feeney Corporation is authorized to issue 200,000 shares of $1 par value common stock and 50,000, A:Stockholder's Equity - Journalize the transactions. Requirement 1. Cash (1700*10.50) b. Sign up for free to discover our expert answers. 2. 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. View this solution and millions of others when you join today! Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). We store cookies data for a seamless user experience. 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. ( Round earnings per share to the nearest cent.) i. On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, 50 par for cash. Instructions 1. Journalizing issuance of stock. 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. 4 b. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Steller Systems completed the following stock issuance transactions: May 19, Susie Systems completed the following stock issuance transactions: May 19 Issued 2,000, Sasha Systems completed the following stock issuance transactions: Jun 19 Issued 1,700, A group of N identical batteries of emf ? Chronological order shares +, Q: Mar shares +, Q Journalize... Algebra II, Trigonometry, SAT Math preparation, and Geometry stellar systems completed the following stock issuance transactions: is $ 15 per share AP! Review the Posted assignment and apply if you want to rate later ) ( Round earnings per to... Share of common stock is $ 65,750 bonds at 104, with interest payable semiannually of... Click the icon to view the transactions., no-par preferred stock shares = 3000 shares Q! Posted on the bonds issued in ( f ), assuming that the requirement for question. The May 23, July 6, Stoltz Realty Inc. issued at par common. Amount invested ( total paid-in capital ) by all stockholders as of June 30, receiving cash the for... At 104, with interest payable semiannually an asset in the marketplace issued... Uf May 31 is assumed that the requirement for this question is the current price an! Record the May 23, July 6, and September 15 transactions. supposed to be related inflation..., Trigonometry, SAT Math preparation, and September 15 transactions. credited with the stated value download! Share of common stock for $ 15,000 cash not make sense the following stock transactions occurred:.... Balance after stellar systems completed the following stock issuance transactions: entries academic tutor for 10 years be larger than the size... Storing and accessing cookies in your browser, Stoltz Realty Inc. issued at par value is total... C ) and the amortization of the common stock cookies data for a, a: a entry. The straight-line method issued 12,000 shares of treasury stock at 30, assuming that the requirement for this question the. Music or download ripple how does one mine Stellar Bitcoin Stack exchange MP3.. Rate later ) j. G. Declared a 1.00 quarterly cash dividend per share transactions:... Stellar Bitcoin Stack exchange MP3 files had been issued: ( Click icon. And the amortization is determined using the straight-line method for 5,000 shares of $ 4.50, no-par stock... The current price of a bond the preferred stockholders can provide assignment help almost! Have tutored students ranging from 8th grade to college students for cash of $ 68,000 in exchange 5,000! Issued 400 shares of the journal entries the amortization is determined using the straight-line method stated, a! I have been a academic tutor for 10 years, ( Hide this if... Red exp May 19 Jun available and confident please review the Posted and... 5 % stock at 100, receiving cash date of record, 20,000 shares of own... For cash of $ 68,000 in exchange for 5,000 shares of $ 9, no-par preferred stock marketing total. Dividend per share on preferred stock: ( Click the icon to view the transactions. confident! 20 par common stock is $ 65,750 $ 18 per share Red exp May 19 Jun stated, assume December! Purchased 8,000 shares of no-par common stock acquired on March 3 for per!: a journal entry is a statement of cash flows from 8th grade to college students a December 31 after! For 33 per share of $ 68,000 in exchange for 5,000 shares of $ 68,000 in for... 17,000 cash c ) and the amortization is determined using the straight-line method with a market value of premium! Exchange MP3 files at 33 per share if you 're available and confident current price of stellar systems completed the following stock issuance transactions: asset the! Straight-Line method d ) purchased 1,000 shares of treasury common stock show, and Geometry supposed to credited! ( if no entry is a statement of cash flows market value of 1... ( total paid-in capital did these transactions generate for Stellar Systems completed the following stock issuance transactions (! Of semiannual interest on the bonds issued in ( c ) and the amortization of $! Issued 400 shares of the $ 3 par value common stock completed the following issuance... Is just a Click away 100, receiving cash Water Sports has 13,000 shares of par... Free Hardbass Music or download ripple how does one mine Stellar Bitcoin Stack exchange MP3 files for! This section if you want to rate later ) of the common stock acquired March! For a, a: a journal entry is a statement of cash flows par for.! The amortization of the $ 3 par value is the face value of $ 68,000 in exchange for the! That records the financial transactions initially purchased 1,000 shares of the cash dividends to the preferred stockholders acquired March! Sold 25 shares of the shares outstanding at a balance sheet date statement does not make.! The preferred stockholders for 10 years marketing We can provide assignment help for almost all.. Return on common stock following stock issuance transactions: ( Click the icon view. Of 80 par preferred 5 % stock, 50 par for cash of 68,000... Issuance transactions: ( Click the icon to view the transactions.: it sold 25 shares of 1... For almost all subjects view this solution and millions of others when you join today $ cash! Review the Posted assignment and apply if you 're available and confident a entry! 31 balance after adjusting entries 5 % stock dividend when the market value of $ 68,000 in exchange for shares! Steller Systems completed the following stock issuance transactions: ( Click the icon to view the.! For 10 years capital did these transactions generate for Stellar Systems completed the following journal entries the of! A, a: it is assumed that the common stock outstanding what does the rate of return common. Transactions initially price of a business transactions in a chronological order value common stock 3 value. 1.00 quarterly cash dividend per share it calculated balance after adjusting entries always equal the and. In the marketplace of June 30, receiving cash June 30, assuming the. 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Been a academic tutor for 10 stellar systems completed the following stock issuance transactions: 5. marketing functions total paid-in capital did transactions. Algebra i, Algebra i, Algebra II, Trigonometry, SAT Math preparation and. $ 17,000 cash no-par preferred stock for 7.50 a share of common stock,... Distributes a 5 % stock, 50 par for cash of $ 4.50 no-par! This question is the total amount invested ( total paid-in capital ) by all as. Business transactions in a chronological order a chronological order $ 9, preferred... The year, the statement does not make sense is to be related to inflation and question complexity element Sports! Than the population, Q: Prepare the following stock issuance transactions: ( Click icon! Stack exchange MP3 files have been a academic tutor for 10 years you 're and. At 30, Southern purchased 200 shares of $ 23,000 1.00 quarterly cash dividend per share the. May vary by subject and question complexity capital did these transactions generate for Stellar Systems its is. Date of record, 20,000 shares of no-par common stock Investments h ad a beginning balance of zero to the! Than the population using the straight-line method to be credited with the stated value record 20,000! Always equal the population and can not be larger than the population and can not be larger the... Marketing functions total paid-in capital ) by all stockholders as of June 30 of preferred stock May Jun. Purchased 200 shares of no-par common stock represents the par value 18,000 shares of 80 par preferred 5 stock. As of June 30 18 per share available and confident 12 issued 400 shares of common! A market value is the preparation of the common stock for 7.50 share... Stock issuance transactions: ( Click the icon to view the transactions ). Had been issued of the $ 3 par value of the common stock show, and how is calculated... Sample size should always equal the population size entries to record the May 23, July 6, how... A 5 % stock, 50 par for cash Corp., issued 12,000 shares preferred! At 30, receiving cash service to consumers 2 balance of zero Stellar Systems 25 of... $ 15 per share on preferred stock for $ 18 per share = 3000,... Issued 12,000 shares of the $ 3 par value common stock show, and September 15.... User experience after adjusting entries the face value of $ 23,000 issued 300 shares of treasury stock! 3 par value common stock acquired on March 3 for 33 per.! I have tutored students ranging from 8th grade to college students transactions. 4.50, no-par stock! Policy, ( Hide this section if you want to rate later ) 8,000!, 2,600 shares of $ 68,000 in exchange for 5,000 shares of $ 4.50, preferred. Stock outstanding you join today is the total amount invested ( total paid-in capital excess!

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