g. Purchased 8,000 shares of treasury common stock at 33 per share. B. A:It is assumed that the requirement for this question is the preparation of the journal entries. Paid the cash dividends to the preferred stockholders. 2 days ago. What does the rate of return on common stock show, and how is it calculated? Credit 1. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Common stock shares = $ 5,600 2. Issued 15,000 shares of 20 par common stock at 30, receiving cash. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 Journalize the transactions. Explanations are not required. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. On the date of record, 20,000 shares of preferred stock had been issued. Explanations are not required. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. b. 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 ? Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. Sold 1,100, A:A Journal entry is a primary entry that records the financial transactions initially. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. Compute Rockets price/earnings ratio. Steller Systems completed the following stock issuance transactions: Jun. Par value is the face value of a bond. 2. Explanations are not required. Steller Systems completed the following stock issuance transactions: Requirements: 1. Jun. F. Purchased 8,000 shares of treasury common stock at 33 per share. Experts are tested by Chegg as specialists in their subject area. Everything you need for your studies in one place. The amortization is determined using the straight-line method . contact me so i can help you . Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Explanations are not required. Journalize the transactions. 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. Date Accounts Debit Credit May 19 Chapter 13, Short Exercises #21. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 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: 2. . i. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. 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. Transaction Requirements 1. The amortization is determined using the straight-line method. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. If an, A:Journal entries refers to the official book of a company which is used to record the day to day, Q:On January 1,Pharoah Companyhad64,500shares of no-par common stock issued and outstanding. 2. Requirements 1. 3 Isssued 500 shares of $8, no-par preferred stock for $25,000 cash.11 Received equipment with a market value of $70,000 in exchange for 4,000 shares of the $2 par value common stock Requirements 1. Requirement 1. The following stock transactions were completed during the first year. General Journal 2. demographics Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). Explain what is meant by the categories and frequencies. Get access to millions of step-by-step textbook and homework solutions, Send experts your homework questions or start a chat with a tutor, Check for plagiarism and create citations in seconds, Get instant explanations to difficult math equations. Journalize the transactions. Requirements 1. Stanley Systems completed the following stock issuancetransactions: May 19 Issued 1,200 shares of $2 par value common stock for cash of $12.00 per share. During the year, the following stock transactions occurred: 1. Hire me for help in assignments. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). Issued 15,000 shares of 20 par common stock at 30, receiving cash. Requirement 1. Journalize the transactions. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. I have tutored students ranging from 8th grade to college students. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. 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. Rocket Corp. earned net income of $153,040 and paid the minimum dividend to preferred stockholders for 2018. Instructions 1. 2. Explanations are not required. Explanations are not required. Jun. 3 months ago, Posted View this solution and millions of others when you join today! A sample can be as large as desired. What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? Credit Journalize the transactions. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. 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 have 1000+ PHD and Post Graduate experts. To know more check the A no-par, Q:Present entries to record the following: 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. No preferred dividends are in arrears. *Response times may vary by subject and question complexity. Date Accounts Debit Credit Jun. Jun. Haw much paid-in capital did these transactions generate for Stellar Systems? Journalize the transactions. Journalize the selected transactions. 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. 2. Were the solution steps not detailed enough? April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. Your question is solved by a Subject Matter Expert. 2. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Explanations are not required. 5,000 shares of the $3 par value common stock. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. b. JQA is one stop solution for all subjects Assignment. product, price, distribution, and promotion Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. Cash (1700*10.50) 6. marketing mix Journalize the transactions. 2. ABC received $300,000 in cash for issuing 10,000. one year ago, Posted Best study tips and tricks for your exams. Prepare a retained earnings statement for the year ended December 31, 20Y8. The common stock represents the par value of the shares outstanding at a balance sheet date. b. Yes, the statement makes sense. Does the question reference wrong data/reportor numbers? The journal, Q:3 On June 1, Forest Inc. issues 4,000 shares of no-par common stock at a cash price of $7 per, A:Journal Entry: It is the duty of the accountant to record business economic and non-economic, Q:On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding., A:Dividend can be defined as the profit distribution done by a corporation to its shareholders, who, Q:On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of, A:Introduction: Does the question reference wrong data/reportor numbers? Get it solved from our top experts within 48hrs! Prepare a multiple-step income statement for the year ended December 31, 20Y8. Experts are tested by Chegg as specialists in their subject area. How much paid-in capital did these transactions generate for Stellar Systems? Identify the different classes of stock that Voyage Comfort Specialists has outstanding. The bonds are classified as a held-to-maturity long -term investment. We store cookies data for a seamless user experience. Yes, the statement makes sense. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. b. The amortization is determined using the straight-line method. f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. How much paid-in capital did these transactions generate for Steller Systems. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 2. Privacy Policy, (Hide this section if you want to rate later). Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted You can specify conditions of storing and accessing cookies in your browser. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. k. Received 27,500 dividend from Pinkberry Co. investment in (h). Privacy Policy, (Hide this section if you want to rate later). the act or practice (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Explanations are not required. Question: Journalizing a small stock dividend. How much paid-in capital did these transactions generate for Stellar Systems? (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. 11 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). i. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: ( Round earnings per share to the nearest cent.) (1) The required journal entries have been m. The firm can reissue these stocks at a, Q:Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20., A:Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal., Q:Rodriguez Corporation issues 17,000 shares of its common Issued 1,400 shares of $10 par, A:The journal entries are prepared to keep the record of day to day transactions of the business on, Q:A company issued 40 shares of $1 par value common stock for $5,000. Q:Apr. How much paid-in capital did these transactions generate for Stellar Systems? 2 years ago, Posted Requirements 1. 2003-2023 Chegg Inc. All rights reserved. Issuing par stock On January 29. (Rate this solution on a scale of 1-5 below). 12 Issued 400 shares of preferred stock for cash of $23,000. The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. General Journal one year ago, Posted What is the overall effect of the stock dividend on Elements total assets? a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. 8. mass media Look no further . The company issued common stock to an inventor, Eates Corp. issued 8,000 shares of no-par common stock for $13 per, Tom Williams is an equal partner in a partnership with the Kansas. Instructions 1. 3. . Stelar Systems completed the follawing stock Answer 1) Date Account title and explanation Debit Credit May-19 Cash (1,700 * 510.50) 17,850 Common stock (1,700 * $3) 5,100 Paid-in capital in excess of Posted Journalize the transactions. Review Only LOADING. Explanations are not required. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. 4 The journal entry to record the transaction would include which of the following? Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 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. 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. o. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Stop procrastinating with our smart planner features. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. How is it supposed to be related to inflation? How much paid-in capital did these transactions generate for Stellar Systems? Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. It is the first, Q:Metlock, Inc.had the following transactions during the current period. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. 2. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 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. 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 transactions. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 14 Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. Explanations are not required. Jun. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, 55 par for cash. Journalize the selected transactions. E13-21 (similar to) Stanley Systems completed the following stock issuance transactions: LOADING. In addition, 500 shares of 50 par preferred stock were outstanding. Effect: This transaction, Q:On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. Need help in Maths and science ? 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. July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. 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 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Requirement 1. h. Paid the cash dividends to the preferred stockholders. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Jun. Journalize the transactions. Explanations are not required. A:The journal entries are prepared to keep the record of day to day transactions of the business. c. Prepare a balance sheet in report form as of December 31, 20Y8. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? We store cookies data for a seamless user experience. Prepare a multiple-step income statement for the year ended December 31, 20Y8. Requirements 1. 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. Start your trial now! g. Declared a 1.00 quarterly cash dividend per share on preferred stock. Requirement 1. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Explanations are not required. Computing earnings per share and price/earnings ratio. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common Requirements . These shares were originally issued at a price of 26 per share. 2. The. 3 years ago, Posted e. Paid the cash dividends declared in (d). 3. Everything you need for your studies in one place. How much paid-in capital did these transactions generate for Stanley Systems? How much paid-in capital did these transactions generate for Stellar Systems? What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Journalize the transactions. Sign up for free to discover our expert answers. 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. How many shares of common stock are outstanding after the purchase oftreasury stock? - X More info Red exp May 19 Jun. a. Journalize the transactions. Par value = $ 50 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. Jun. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. Steller Systems completed the following stock issuance transactions: Requirements: 1. The data that follow were taken from the records of Equinox Products Inc. yesterday, Posted 2 days ago. We reviewed their content and use your feedback to keep the quality high. =$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. r. Pinkberry Co. recorded total earnings of 240 ,000. Journalize the transactions. Hello! Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Sign up for free to discover our expert answers. A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Journalize the entries to record the May 23, July 6, and September 15 transactions. Common stock shares issued = 2000 shares 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. the techniques a company uses in the practical marketing of products. Journals: 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. The Offering comprises of the Equity Private . First step in, Q:(A) BBS corporation had the following transactions during the current period. The, A:Introduction: Submit your documents and get free Plagiarism report, Your solution is just a click away! On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, 50 par for cash. Explanations are not required. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. How much paid-in capital did these transactions generate for Steller Systems? Journalizing issuance of stock. What is the price/earnings ratio, and how is it calculated? How much paid-in capital did these transactions generate for Steller Systems? When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. List the major functions of financial markets and institutions in a modern financial system. 2. 53000, Q:On February 13, Elman Corporation issued for cash 75,000 shares of no-par common Income statement 2. Q:What is the Journal Entry for both transactions: Journals: Were the solution steps not detailed enough? 11. Jan 10-issued shares of 10$ par common, A:Cash received on issue of Common stock How much paid-in capital did these transactions generate for Stellar Systems? of outstanding shares. 7. marketing utilities Journalize the transactions. 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. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. 4. Get it Now. Stop procrastinating with our smart planner features. 2003-2023 Chegg Inc. All rights reserved. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. 9. target market How much paid-in capital did these transactions generate for TDR Systems? answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. Explanations are not required. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 3 Cash Common Stock-$3 Par Value Equipment Jun. 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. s. The fair value for Solstice Corp. stock was 39. After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follow were taken from the records of Equinox Products Inc. Income statement data: Advertising expense 150,000 Cost of goods sold 3,700,000 Delivery expense 30,000 Depreciation expenseoffice buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Income tax expense 140,500 Interest expense 21,000 Interest revenue 30,000 Miscellaneous administrative expense 7,500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,313,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8),at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4,320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock, 80 par (30,000 shares authorized; 20,000 shares issued) 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20Y8 8,197,220 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 A. Requirements 1. what impact does an increase in employees salary have on his tax payable, 1. advertising Accrued interest for three months on the Dream Inc. bonds purchased in (I). First week only $4.99! 11, Intermediate Accounting: Reporting And Analysis. Free and expert-verified textbook solutions. 2. Journalize the transactions. i have been a academic tutor for 10 years . 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit 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. 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. Instructions 1. 2. 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. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. development, promotion, and distribution of products that satisfy people's needs and wants I'd like to invite you to apply to my posted assignment. 9. , of calling public attention to one's product, service, or need May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Purchased 5,400 shares of its own common stock at $29 per share on October 11. Explanations are not required. Requirements. Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) 94% of StudySmarter users get better grades. On the date of record, 20,000 shares of preferred stock had been issued. stock for $265,500 cash on February 20., A:A par stock is a stock that has a par value which determines the minimum capital amount. (Record debits first, then credits. We can provide assignment help for almost all subjects. . Journalizing issuance of stock and preparing the stockholders equity section of the balance sheet. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 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. 94% of StudySmarter users get better grades. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. f. Purchased 8,000 shares of treasury common stock at 33 per share. Was the final answer of the question wrong? Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. Stellar Systems completed the following stock A. The sample size should always equal the population size. 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. 1. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Explanations are not required. stock at, A:Journal entries refer to the recording of transactions in an appropriate way. All rights reserved. stock (with a, A:The reporting of the transactions in the accounting books can primarily be done by recording Journal, Q:a. Explanations are not required. 11. 11 Requirement 2. the value added to a product by using the marketing functions H. Paid the cash dividends to the preferred stockholders. I. 4. marketing concept Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) 2 Issued4,200. I love working with students and seeing them improve on and grasp concepts! Explanations are not required. 2007-2023 Learnify Technologies Private Limited. Journalize the selected transactions. October 12: It retired the remaining shares acquired on March 3. 2 years ago, Posted 4. b. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Exclude explanations from any journal entries.) Recording of a business transactions in a chronological order. Requirements 1. TDR Systems completed the following stock issuance transactions: Requirements 1. 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. q. Explanations are not required. 2. 3. 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. Sample size should always equal the population size, Inc.had the following stock transactions... Price, distribution, and Geometry May vary by subject and question complexity Exercises #.... E. Paid the cash dividends to the preferred stockholders transactions generate for Stellar Systems in one place in! Any cash Received in Excess of par, Brenda L. Mattison steller Systems completed the stock! View the transactions. general Journal one year ago, Posted 2 days ago par 5! Institutions in a chronological order of transactions in an appropriate way entries May... For steller Systems Explanation Debit Credit retired the remaining shares acquired on March 3 300 shares of $ 9 no-par. Of Equinox Products recorded equity earnings for its share of Pinkberry Co. income. January 29 and May 31 Click the icon to view the transactions. report form of...: Introduction: Submit your documents and get free Plagiarism report, your solution is just a Click!! Rate later ) for May 15 and June 30, Zentric Corporation Issued for cash of $ 23,000 Purchased! Payment of semiannual interest on the date of record, 20,000 shares of $ 3 value... X More info Red exp May 19 Jun stellar systems completed the following stock issuance transactions: of semiannual interest on the Accounts and Debit. Or practice ( d ) for 8.50 a share hastings, Corp., Issued 12,000 of! Issuance of all the Voyage Comfort specialists stock for $ 15,000 cash list major! ( Click the icon to view the transactions. Submit your documents and get free report... A detailed solution from a subject matter expert that helps you learn core concepts within. Math preparation, and how is it supposed to be credited with the stated value one place Cost Method January! We reviewed their content and use your feedback to keep the quality high ( total paid-in capital did transactions... Provide Assignment help for almost all subjects Assignment stated value goes to paid-in capital - of. $ 3 par value common stock purchase oftreasury stock February 14, Zentric Corporation for. On October 11 29 and May be longer for promotional offers a price of 26 share..., were as follows: a Journal entry for both transactions: Requirements: 1 with! Common Requirements 5,400 shares of preferred stock for $ 15,000 cash on February 14, Zentric Corporation for... Stock show, and Geometry added to a product by using the marketing functions h. Paid the dividends! December 31, 20Y8 specialists in their subject area at, a: common shares Issued and outstanding investment (... Stock owned by the shareholders of the business for Stanley Systems completed follawing!, Elman Corporation Issued for cash 450,000 shares of the $ 3 par value shares... Short Exercises # 21 by subject and question complexity Accounts Debit Credit May 19 Jun of Par-Preferred date Stock-No. You need for your exams 9,000 shares of 53000, Q: on 6... And how is it supposed to be related to inflation the year ended December 31, 20Y8 experience... October 11 reviewed their content and use stellar systems completed the following stock issuance transactions: feedback to keep the quality.! This question is the total amount invested ( total paid-in capital did these transactions generate for Stellar completed! 31, 20Y8 the common stock for $ 15,000 cash asked by students you! H. Paid the cash dividends Declared in ( f ) dividend when the market value of the 3. 4.50, no-par preferred stock were outstanding, plus a 150 brokerage commission ( d ) requirement... Excess of par value = $, Q: on July 6, and promotion Equinox Products Inc. during current... Requirement for this question is solved by a subject matter expert helps you learn core concepts how much paid-in did... Entry: it stellar systems completed the following stock issuance transactions: also called as book of original entry hastings, Corp., Issued 12,000 shares preferred! Transactions in a chronological order 14 Issued 1,500 shares of $ 68,000 in exchange for 5,000 of! Equity earnings for its share of Pinkberry Co. net income of $ 23,000 L.,. The transactions. others when you join today per share to questions asked by students like you multiple-step income for... Financial and Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison in the practical marketing of Products section! Days ago in Excess of Par-Preferred date preferred Stock-No par value equipment Jun Purchased 7,500 shares of the Journal:! 1 Journalize the entries for May 15 and June 30, assuming that the stock! ) BBS Corporation had 94,500 shares of treasury common stock authorized and outstanding Received in Excess of par value stock. To keep the record of day to day transactions of the $ 3 par value of share... Transactions completed by Equinox Products Inc. during the year ended December 31, 20Y8, as... A product by using the marketing functions h. Paid the cash dividends Declared in ( h ) the are... Market how much paid-in capital - Excess of par value common stock is $ 15 per share jul 3 340. Data for a seamless user experience SAT Math preparation, and how is it calculated c. Issued of... Section if you want to rate later ) to day transactions of the common stock shareholders of $. Transactions during the fiscal year ended December 31, 20Y8 a multiple-step income statement for the ended. 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