On January 1, 2020, Castaway Corp. issued 5,000 shares of
preferred stock ($15 par value) at...
On January 1, 2020, Castaway Corp. issued 5,000 shares of
preferred stock ($15 par value) at $45 per share. Each share of
preferred stock is redeemable at the option of the stockholder at
$45 per share. On September 1, 2020, preferred shareholders holding
1,000 shares of preferred stock redeemed their stock.
The entry recorded by Castaway Corp. on September 1, 2020, would
include the following:
A.
No net change to stockholders’ equity.
B.
A decrease to retained earnings for $5,000....
On April 7, the Moore Company issued 5,000 shares of $50 par
value preferred stock at...
On April 7, the Moore Company issued 5,000 shares of $50 par
value preferred stock at $106 per share. Please write the journal
entry:
On April 10, a company acquired land in exchange for 1,000
shares of $20 par common stock with a current fair-market price of
$70 per share. Please write the journal entry:
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at...
Refer to the following transactions:
1. Issued 540 shares of $80 par value preferred stock at
par.
2. Issued 640 shares of $80 par value preferred stock in
exchange for land that had an appraised value of $81,600.
3. Issued 19,000 shares of $4 par value common stock for $10 per
share.
4. Purchased 4,750 shares of common stock for the treasury at
$10 per share.
5. Sold 1,900 shares of the treasury stock purchased in
transaction d for $12...
Hodge Corporation issued 117,000 shares of $18 par value,
cumulative, 8% preferred stock on January 1,...
Hodge Corporation issued 117,000 shares of $18 par value,
cumulative, 8% preferred stock on January 1, 2014, for $2,682,000.
In December 2016, Hodge declared its first dividend of
$833,300.
Prepare Hodge’s journal entry to record the issuance 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 enter 0 for
the amounts.)
Account Titles and Explanation
Debit
Credit
SHOW...
Orange Office Supply Corporation completed the following stock
issuance transactions: January 2, 2018 Issued 5,000 shares...
Orange Office Supply Corporation completed the following stock
issuance transactions: January 2, 2018 Issued 5,000 shares of $4
stated value common stock for cash of $20 per share January 31,
2018 Received merchandise inventory with a market value of $46,000
in exchange for 2,000 shares of the $4 stated value common stock
when the market price was $22. March 1, 2018 Issued 450 shares of
5%, $20 par value, cumulative, preferred stock for $50 per share
July 1, 2019 Board...
7% preferred stock, $20 par value,
cumulative, 15300 shares
authorized; 5300 shares issued
$ 106000
Common...
7% preferred stock, $20 par value,
cumulative, 15300 shares
authorized; 5300 shares issued
$ 106000
Common stock, $10 par value,
1090000 shares authorized;
1040000 shares issued, 1010000
shares outstanding
10400000
Paid-in capital in excess of
par—preferred stock
29000
Paid-in capital in excess of
par—common stock
11590000
Retained earnings
3790000
Treasury stock (14800 shares)
310800
Coronado’s total paid-in capital was
$22435800.
$22125000.
$21814200.
$12175000.
Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred...
Angie’s Antiques Inc. is authorized to issue 100,000 shares of
$100 par value, 5% cumulative preferred stocked and 100,000 shares
of $1 par value common stock. See the following transactions that
occurred during the year:
Jan 18: Issued for cash 30,000 shares of common stock at $10 per
share.
Feb 14: Issued 4,000 shares of preferred stock for $400,000.
Sept 20: Declared dividends on preferred stock of $5 per share.
Dec 18: Paid cash dividend declared...
On December 20, 2018, A company had the following shares
outstanding:
Preferred stock (6%, $30 par)...
On December 20, 2018, A company had the following shares
outstanding:
Preferred stock (6%, $30 par) 1,000,000 shares
Common stock ($2 par) 10,000,000 shares
Journalize the following transactions and events from 2019:
(a) January 10: the company purchased 500,000 shares of its
common stock at a market price $24 per share.
(b) March 4: the company declares a dividend on preferred stock
of $3.00 per share. The record date is March 8th and the date of
payment is April 1st....
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016,...
1,400,000 shares of no-par common stock were authorized;
327,000 shares were issued on January 1, 2016, at $30 per
share.
426,000 shares of $90 par value, 10.00% cumulative, preferred
stock were authorized, and 130,000 shares were issued on January 1,
2016, at $133 per share.
Net income for the years ended December 31, 2016, 2017, and
2018, was $4,680,000, $7,040,000, and $9,160,000,
respectively.
No dividends were declared or paid during 2016 or 2017.
However, on December 17, 2018, the board...