1 answer

с C Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on...

Question:
с C Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, wit
Aug. 7. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $45,00
Statement of Stockholders Equity The stockholders equity Taccounts of L-Cards Inc. for the fiscal year ended December 31, 2
TREASURY STOCK Aug. Purchased 2,000 shares 74,000 1,910,000 Mar. 31 June 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Divid
Instructions The declaration, record, and payment dates in connection with a cash dividend of $130,400 on a corporations com
с C Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 100,000 shares of 4% preferred stock, $45 par and 600,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 135,000 shares of common stock at par for cash. 2,025,000 Common Stock July 1 Cash Check My Work What is the company receiving and at what price is the stock being issued? July, 1 Issued 550 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. July 1 Organizational Expenses Common Stock ✓ 8.250 Check My Work Recall that stock may be issued for reasons other than to receive cash. What are these shares paying for?
Aug. 7. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $45,000, $245,000, and $55,500, respectively. For a compound transaction, if an amount box does not require an entry, leave it blank. Aug. 7 Land 246,000 55,500 Buildings Equipment Common Stock Pald-In Capital in Excess of Par-Common Stock 9.340 X Foodteck Check My Wort Sept. 20. Issued 30,000 shares of preferred stock at $53 for cash. For a compound transaction, if an amount box does not require an entry, leave it blank. Sept. 20 Cash 1.590,000 1.350.000 Preferred Stock Pald-In Capital in Excess of Par-Common Stock X 240.000
Statement of Stockholders' Equity The stockholders' equity Taccounts of L-Cards Inc. for the fiscal year ended December 31, 2019, are as follows. COMMON STOCK Jan. 1 Balance 1,100,000 Apr. 14 Issued 12,000 shares Dec 31 Balance 1,580,000 176,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance Apr. 14 Issued 12,000 shares Dec. 31 Balance 272,000 TREASURY STOCK Aug. 7 Purchased 2,000 shares 74,000 1,910,000 Mar. 31 June 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 28,000an. 1 28,000Dec 31 28,000 28,000Dec. 31 Balance Closing (Net income) Balance 287.000 2,085,000
TREASURY STOCK Aug. Purchased 2,000 shares 74,000 1,910,000 Mar. 31 June 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 28,000 an 1 28,000Dec. 31 28,000 28,000Dec. 31 Balance Closing (Net income) Balance 282.000 2,085,000 Prepare a statement of stockholders' equity for the year ended December 31, 2049. If an amount is zero or an entry is not required, leave the box blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. 1-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2049 Common Stock $40 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Balance, Jan 1, 2019 Issued 12,000 shares of Common Stock Purchased 2,000 shares as Treasury Stock Net Income Dividends Total Balance, Dec 31, 2019
Instructions The declaration, record, and payment dates in connection with a cash dividend of $130,400 on a corporation's common stock are January 12, March 13, and April 12 Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles Journal Shaded cells have feedback Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of accoun How does grading work? JOURNAL Score: 37/51 ACCOUNTING EQUATI DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES 1 130,400.00 2 130,400.00 Jan 12 Retained Earnings Cash Dividends Apr. 12 Cash Dividends Payable Cash 3 129,100.00 4 129,100.00
Business Accounting
< Previous
Next >

Answers

(Cudit Bau July (3) Debit 2095000 General Journal Cash (135,000 X45) Common stock 395,000 9250 July! Degorisation Exp. (530*1Issued 12,000 Share I- Cards Inc. Statement Dos 2 ॥ stockholders Equity for the year ended December 31, 2019 Common stock Pa

.

Similar Solved Questions

1 answer
Simulate mitosis by drawing and include the following: Instructions: Set up your cell. The cell you...
Simulate mitosis by drawing and include the following: Instructions: Set up your cell. The cell you start with should be: A diploid cell It should contain 2 homologous pairs of chromosomes (the cell has more chromosome pairs, but we are just looking at 2 of them) It should be in G1 of the ce...
Read question...
1 answer
Suppose that X has the probability density function f(x) = { 2x 0 < x <...
Suppose that X has the probability density function f(x) = { 2x 0 < x < 1 0 otherwise Which of the following is the moment generating function of X? 2 et t 2 et t2 2 t2 O t2 2 eet t 2 ett t2 t e eut-1 t...
Read question...
1 answer
According to the Americans with Disabilities Act, a ramp cannot have an incline that is greater...
According to the Americans with Disabilities Act, a ramp cannot have an incline that is greater than 5o. The regulations also state that the maximum rise of a ramp is 30 inches. When a 
ramp needs to reach a height greater than 30 inches, a series of ramps connected by 60-inch landings can be ...
Read question...
1 answer
Advertising department expenses of $57,800 and purchasing department expenses of $57,800 of Cozy Bookstore are allocated...
Advertising department expenses of $57,800 and purchasing department expenses of $57,800 of Cozy Bookstore are allocated to operating departments on the basis of dollar sales and purchase orders, respectively. Information about the allocation bases for the three operating departments follows. Purcha...
Read question...
1 answer
Dr. Caddell performed a colonoscopy at the ambulatory surgery center on Cecil Matthews, who has been...
Dr. Caddell performed a colonoscopy at the ambulatory surgery center on Cecil Matthews, who has been Dr. Caddell's patient for several years. Mr. Matthews came to the office with left lower quadrant pain and a history of colon cancer. What other factors or information would Sherald need to know ...
Read question...
1 answer
Exercise: You have a relayed 6864 base pair of large plasmid that you treat with gyrase...
Exercise: You have a relayed 6864 base pair of large plasmid that you treat with gyrase until the plasmid has received 40 negative supercoils. Assume that B form DNA has 10.4 bp / gain. a. What is the linking number of the plasmid before treatment with gyrase. b. What is the linking number of the pl...
Read question...
1 answer
Question 21 10 pts An ac generator supplies an rms (not peak) voltage of 180V at...
Question 21 10 pts An ac generator supplies an rms (not peak) voltage of 180V at 60.0 Hz. The generator is connected in series with a 0.50-H inductor, a 6.0-4F capacitor, and a 300-ohm resistor. What is the peak (not rms) current through the resistor? (R2 + (x1 - Xo)"), X = 2nfL, X 2016 Vrms=ZIm...
Read question...
1 answer
Calculation of ending inventory and cost of goods sold Exquisite Jewellers purchases chiming clocks from around...
Calculation of ending inventory and cost of goods sold Exquisite Jewellers purchases chiming clocks from around the world for sale in Canada. According to its records, Exquisite Jewellers had no opening inventory, and had the following purchases and sales of clocks in the current year: Exquisite Je...
Read question...
1 answer
Giantage Corporation produces windows used in residential construction. The company expects to produce 44,550 units next...
Giantage Corporation produces windows used in residential construction. The company expects to produce 44,550 units next year. With regards to direct materials, each unit of product requires 12 square feet of glass at a cost of $1.50 per square foot. With regards to direct labor, each unit of produc...
Read question...
1 answer
CALCULATOR PRINTER VERSION BACK NEXT Brief Exercise 7-10 At July 31, Cullumber Company has this bank...
CALCULATOR PRINTER VERSION BACK NEXT Brief Exercise 7-10 At July 31, Cullumber Company has this bank information: cash balance per bank $8,400, outstanding checks $725, deposits in transit $1,365 and a bank service charge $30. Determine the adjusted cash balance per bank at July 31 The adjusted cash...
Read question...
1 answer
Explain the effects of hydrochlorothiazide on the blood pressure
explain the effects of hydrochlorothiazide on the blood pressure...
Read question...
1 answer
Understand alpha helices and beta pleated sheets Question Which of the following statements is not true...
Understand alpha helices and beta pleated sheets Question Which of the following statements is not true about R groups in B-pleated sheet? a. The R groups of the peptide chain point outside. b. The R groups are attached to the carbons and extend above and below the folds of the pleat. c. The amino a...
Read question...
1 answer
Personal affiliations and networking are important for nursing leaders. Why are these important? How will they...
Personal affiliations and networking are important for nursing leaders. Why are these important? How will they benefit you in your career future? Identify two affiliations or a situation in which you have networked for the health of a population or your community....
Read question...
1 answer
Most reactions in the body occur too slowly on their own to sustain life
Most reactions in the body occur too slowly on their own to sustain life. This is because: a. all reactions in the body are endergonic. b. many reactions require large inputs of activation energy. c. no catalysts are present in body cells. d. most biological catalysts are not active at body temperat...
Read question...
1 answer
Congressman smith cites the "jobs argument" when he argues in favor of restrictions on trade; he ...
congressman smith cites the "jobs argument" when he argues in favor of restrictions on trade; he argues that everything can bee produced at lower cost in other countries. the likely flaw in congressman smith's reasoning is that he ignores the fact that...
Read question...