Question

Rodriguez Corporation issues 13,000 shares of its common stock for $198,900 cash on February 20. Prepare...

Rodriguez Corporation issues 13,000 shares of its common stock for $198,900 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
  

  1. The stock has a $12 par value.
  2. The stock has neither par nor stated value.
  3. The stock has a $6 stated value
transaction general journal debit credit
1
2
3

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Rodriguez Corporation issues 8,000 shares of its common stock for $133,700 cash on February 20 prepare...
Rodriguez Corporation issues 8,000 shares of its common stock for $133,700 cash on February 20 prepare journal entries to record this event under each of the following separate situations 1. The stock has a $12 par value 2. The stock has neither par nor stated value 3. The stock has a $6 stated vale
Exercise 11-3 Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 11,000...
Exercise 11-3 Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 11,000 shares of its common stock for $125,200 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.    The stock has a $10 par value. The stock has neither par nor stated value. The stock has a $5 stated value. Record the issue of 11,000 shares of $10 par value common stock for $125,200 cash. Note:...
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 6,000...
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,000. The stock has a $1 per share stated value. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,000. The...
Prepare journal entries to record each of the following four separate issuances of stock. A corporation...
Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 8,000 shares of $30 par value common stock for $288,000 cash. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $36,500. The stock has a $1 per share stated value. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth...
A corporation sold 13,000 shares of its $10 par value common stock at a cash price...
A corporation sold 13,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capital in Excess of Par Value, Common Stock for $195,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $65,000. A credit to Common Stock for $195,000. A credit to Common Stock for $130,000. A debit to Cash for $130,000.
Prepare the journal entries to record the following separate issuances of stock: 1.) A corporation issued...
Prepare the journal entries to record the following separate issuances of stock: 1.) A corporation issued 10,000 shares of $6 par value common stock for $70,000. 2.) A corporation issues 3,000 shares of $20 par value preferred stock for $75,000. 3.) A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $200,000. The stock has a $15 stated value. 4.) A corporation issued 2,500 shares of no-par common stock...
Prepare the journal entries to record the following separate issuances of stock: 1.) A corporation issued...
Prepare the journal entries to record the following separate issuances of stock: 1.) A corporation issued 15,000 shares of $8 par value common stock for $192,000. 2.) A corporation issued 4,500 shares of no-par common stock in exchange for a building worth $80,000. 3.) A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $100,000. The stock has a $8 stated value. 4.) A corporation issues 6,000 shares of...
A corporation issues 2,550 shares of common stock for $81,600. The stock has a stated value...
A corporation issues 2,550 shares of common stock for $81,600. The stock has a stated value of $17 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include?
E 11-4A. Treasury Stock Coastal Corporation issued 25,000 shares of $5 par value common stock at...
E 11-4A. Treasury Stock Coastal Corporation issued 25,000 shares of $5 par value common stock at $15 per share and 6,000 shares of $50 par value, eight percent preferred stock at $85 per share.  Later, the company purchased 3,000 shares of its own common stock at $20 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $25 per share.  Prepare...
Prepare journal entries to record each of the following four separate issuances of stock. A corporation...
Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a $2 per share stated value. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth...