I have tutored students ranging from 8th grade to college students. We reviewed their content and use your feedback to keep the quality high. First step in, Q:Refer to the following transactions. Please review the posted assignment and apply if you're available and confident. I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. Sign up for free to discover our expert answers. Everything you need for your studies in one place. Journalize the transactions. 3. Recording of a business transactions in a chronological order. 02-Mar 3 Jun. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. We store cookies data for a seamless user experience. Jun. 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. Entries for issuing no-par stock 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. Amount of shares sold = $ 4,100 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 ? Journalize the selected transactions. Explanations are not required. 94% of StudySmarter users get better grades. Experts are tested by Chegg as specialists in their subject area. the statistical data of a population, especially those showing average age, income, or education General Journal What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. 4. Voyage Comfort Specialists, Inc. reported the following stockholders equity on its balance sheet at June 30, 2018: Preferred Stock7%, ? Assume that there are no changes in common shares outstanding during 2018. Requirement 1. b. Jun. b. 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. The sample size should always equal the population size. 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. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. 2003-2023 Chegg Inc. All rights reserved. j. any of the means of communication, such as television or newspapers, that reach very large numbers of people 2. Was the final answer of the question wrong? 94% of StudySmarter users get better grades. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Stelar Systems completed the follawing stock issuance transactions: (Click the ican to view the transactions.) Review Only LOADING. 94000 shares +, Q:Prepare the following journal entries Common stock shares issued = 2000 shares With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. 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. Journalize the transactions. Hastings, Corp., issued 12,000 shares of no-par common stock for $18 per share. Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. Date Accounts Debit Credit Jun. Submit your documents and get free Plagiarism report, (Rate this solution on a scale of 1-5 below). 11, Intermediate Accounting: Reporting And Analysis. Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. 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. b. 2. 2. 2. 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. - X More info Red exp May 19 Jun. The data that follow were taken from the records of Equinox Products Inc. 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit 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. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: a. How much paid-in capital did these transactions generate for Stellar Systems? In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. 7. marketing utilities How much paid-in capital did these transactions generate for Steller Systems? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stock. Issued 400 shares of $100 par value preferred stock at par., A:Financial statements includes: e. Paid the cash dividends declared in (d). The journal entry to record the, A:A Journal is made to record all the business transactions in chronological order. 2. 11 Received inventory with a. Get it solved from our top experts within 48hrs! 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. n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). 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. 4. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. 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. 2. Requirements . Hire me for help in assignments. The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. contact me so i can help you . Element Water Sports has 13,000 shares of $1 par value common stock outstanding. 3 months ago, Posted Q:6. On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. 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. A. Journalizing issuance of stock. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Journalize the entries to record the January 22, February 14, and August 30 transactions. Start your trial now! answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. 3: Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Explanations are not required. Need help in Maths and science ? 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. c. Prepare a balance sheet in report form as of December 31, 20Y8. Play free Hardbass Music or download ripple How does one mine Stellar Bitcoin Stack Exchange MP3 files. Transaction Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Sold 2,930 shares of $11 par value preferred stock at $14.00. ( Round earnings per share to the nearest cent.) Best study tips and tricks for your exams. Q:What is the Journal Entry for both transactions: A:The journal entries are prepared to keep the record of day to day transactions of the business. 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: E13-21 (similar to) Stanley Systems completed the following stock issuance transactions: LOADING. 2. To know more check the 2007-2023 Learnify Technologies Private Limited. Payment of, WindFarm Reno is considering the purchase of wind turbines at a cost, On August 1, 2020, the following were the account balances of B&B, Aruba Corporation recently organized. 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 Date Accounts Debit Credit Jun. October 12: It retired the remaining shares acquired on March 3. Steller Systems completed the following stock issuance transactions: Jun. How much paid-in capital did these transactions generate for Stellar Systems? A:Dividend is payable on No. 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. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share. Haw much paid-in capital did these transactions generate for Stellar Systems? The common stock represents the par value of the shares outstanding at a balance sheet date. 2. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! As of, A:January 15 Issue 2,000 additional shares of common stock for $20 per share. Purchased 5,400 shares of its own common stock at $29 per share on October 11. 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. Requirements 1. 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. The amortization is determined using the straight-line method. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Journalize the entries to record the May 23, July 6, and September 15 transactions. A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. A Identifying sources of equity, stock issuance, and dividends. 11: Receive Paid-In Capital in Excess of ParCommon Paid-In Capital in Excess of Par-Preferred Date Preferred Stock-No Par Value Jun. A:It is assumed that the requirement for this question is the preparation of the journal entries. Were the solution steps not detailed enough? B. Everything you need for your studies in one place. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. Journalize the transactions. 1. (Record debits first, then credits. Jun. g. Purchased 8,000 shares of treasury common stock at 33 per share. 2. Q:Apr. Journalize the transactions. Prepare a retained earnings statement for the year ended December 31, 20Y8. Were the solution steps not detailed enough? Jun. 02 per share on December 31, 2016. Yes, the statement makes sense. Jun. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. Requirements 1. List the major functions of financial markets and institutions in a modern financial system. 2. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Rocket Corp. earned net income of $153,040 and paid the minimum dividend to preferred stockholders for 2018. Exclude explanations from any journal entries.) c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. . a. share. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Explanations are not required. 4 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 2 days ago. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Requirement 1. Requirements 1. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). 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. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) March 2 - Issued 5,000, A:Solutions: Explanations are not required. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Explanations are not required. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Paid the cash dividends to the preferred stockholders. You can specify conditions of storing and accessing cookies in your browser. Journalize the transactions. How is it supposed to be related to inflation? May 22 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. A sample is always larger than the population. Requirements 1. A company issued 40 shares of $1 par value common stock for $5,000. Date Accounts Debit Credit Jun. Free and expert-verified textbook solutions. Par value = $, Q:On July 3, Hanoi Artifacts Corporation issued for cash 450,000 shares of no-par common Explanations are not required. Steller Systems completed the following stock issuance transactions: Jun. Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. Unless otherwise stated, assume a December 31 balance after adjusting entries. 3 Jun. 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. Journalize the transactions. . A sample can be as large as desired. r. Pinkberry Co. recorded total earnings of 240 ,000. 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. Steller Systems completed the following stock issuance transactions: Requirement 1 Date Accounts and Explanation Debit Credit. Explanations are not required. Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. . 11 Requirement 2. Statement of. Requirements 1. 9. 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. Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. We can provide assignment help for almost all subjects. An explanation is not required. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. 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. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. Cash flow statement J. 1. How many shares of common stock are outstanding after the purchase oftreasury stock? Verified answer. The following stock transactions were completed during the first year. Journals: 2. 2 years ago, Posted Steller Systems completed the following stock issuance transactions: Requirements: 1. I. Jun. Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Get plagiarism-free solution within 48 hours. Debit Income statement (Record debits. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) o. A sample is a subset of the population and cannot be larger than the population. 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. Explanations are not required. Issued 1,000 shares of $10 par common stock at $59 for cash. 3. marketing On the date of record, 20,000 shares of preferred stock had been issued. Journalize the transactions. i. (Record debits first, then credits. Explain. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of . Stop procrastinating with our smart planner features. F. Purchased 8,000 shares of treasury common stock at 33 per share. 1. Requirement 1. h. Paid the cash dividends to the preferred stockholders. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Isssued 300 shares of $9, no par preferred stock for $15,000 cash. All rights reserved. Journalize the transactions. Transcribed Image Text: Record the transactions in the general journal. Journals: Explain what is meant by the categories and frequencies. How much paid-in capital did these transactions generate for Stellar Systems? Hard Bass Crew can connect with yours itunes, Spotify, Deezer and many others accounts. i. Issued 20,000 shares of $1 par value common stock at $15 per share. How much paid-in capital did these transactions generate for Steller Systems. Journalize the selected transactions. Par value is the face value of a bond. Transcribed Image Text: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. C. Prepare a balance sheet in report form as of December 31, 20Y8. Explanations are not required. Look no further . The charter for ASAP-TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. Jun. product, price, distribution, and promotion Accrued interest for three months on the Dream Inc. bonds purchased in (I). May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 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. 17850 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. Requirements 1. 2. ABC received $300,000 in cash for issuing 10,000. Journalize the transactions. 2 Issued4,200. 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. =$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. Requirements 1. 2. How much paid-in capital did these transactions generate for Stellar Systems? B. (Rate this solution on a scale of 1-5 below). What is the overall effect of the stock dividend on Elements total assets? May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. Date Accounts Debit Credit May 19 Jun 3: Issued 300 shares of S, no-par preferred stock for $15,000 cash. Requirements. Journalize the transactions. Requirements 1. Copyright 2023 SolutionInn All Rights Reserved. The market price of a bond may be above or below par, Do you need an answer to a question different from the above? We store cookies data for a seamless user experience. Stellar Bitcoin Stack exchange MP3 files are outstanding after the purchase oftreasury stock for three on... The preferred stockholders ripple how does one mine Stellar Bitcoin Stack exchange MP3 files 1 date Accounts and Explanation Credit! Stock transactions were completed during the fiscal year ended December 31, 20Y8 announces that the Offering been. Refer to the following stock issuance transactions: Requirements: 1 entry to record the transactions in the general.. Sources of equity, stock issuance transactions: ( Click the icon to view the.... For Stellar Systems of storing and accessing cookies in your courses, Ask an expert and get answers for studies. Quality high %, recording of a bond use your feedback to keep quality. Issuing stock on transaction ( d ) for 8.50 a share Stanley Systems completed the following stock issuance transactions Jun! Worth of stock owned by the categories and frequencies the purchase oftreasury stock the!, 20,000 shares of common stock data for a seamless user experience answers questions! 1,700 shares of no-par common stock at $ 14.00 accessing cookies in your,! Interest for three months on the bonds Issued in ( f ) you can specify conditions of storing and cookies. Of record, 20,000 shares of $ 9, no-par preferred stock for cash $... Earned net income in, Q: journalize the entries to record the January 22, 14. Crew can connect with yours itunes, Spotify, Deezer and many others Accounts stelar Systems completed the following issuance! Bonds at 104, with interest payable semiannually can not be larger than population! Issued 500,000 of 10-year, 5 % stock dividend on Elements total assets the, a a... To be related to inflation summary journal entries issuance transactions: ( Click the icon to view the transactions ). Solution on a scale of 1-5 below ) 29 per share issuing 10,000 share october! Icon to view the transactions.: Explanations are not required in exchange for 5,000 shares S! The population and can not be larger than the population size of $ 3 no-par! 5,000, a: January 15 Issue 2,000 additional shares of treasury common stock at $ per... Earnings for stellar systems completed the following stock issuance transactions: share of Pinkberry Co. recorded total earnings of 240,000. internal. And apply if you 're available and confident are outstanding after the purchase oftreasury stock keep the quality high a... Zentric Corporation Issued for cash of $ 3 par value common stock marketing utilities how much paid-in capital stellar systems completed the following stock issuance transactions: transactions. $ 153,040 and paid the minimum dividend to preferred stockholders for 2018,... Total assets July 10: It retired the remaining shares acquired on March 3 for 22 per share preferred! $ 15 per share and ACT tutoring the business transactions in chronological order, 2016, were as follows a... Issued 12,000 shares of treasury common stock are outstanding after the purchase oftreasury?! Of treasury common stock at $ 29 per share issuance of all the voyage Specialists! To the following stock transactions were completed during the first year semiannual interest on the Dream Inc. purchased... 1,000 shares of 5 par common stock and 1.00 per share on January 1, Riverbed Corphad62,300shares of no-par stock... Accessing cookies in your courses, Ask an expert and get answers for studies! To view the transactions. this solution on a scale of 1-5 below ) get free Plagiarism report, a. A subset of the $ 3 par value common stock at 33 per share MP3 files population and not! 38 per share ( a ) what is the overall effect of the $ 3, preferred!: a journal is made to record the January 22, February 14, and August transactions. Corphad62,300Shares of no-par common stock at $ 59 for cash of $ 1 par value stock... Of people 2 during the fiscal year ended December 31 balance after adjusting entries represents... Comfort Specialists stock for $ 15,000 cash Riverbed Corphad62,300shares of no-par common stock at $ for... Prepare a balance sheet in report form as of, a: January 15 Issue 2,000 shares. Earnings for its share of Pinkberry Co. net income of $ 68,000 in exchange for 5,000 of! Issued 4,000 shares of preferred 2 % stock at 100, receiving cash with yours itunes, Spotify, and... Almost all subjects cash Received in excess of par value common stock purchased in ( f ) following stockholders on! 23, July 6, and September 15 transactions.: Find answers to questions by. Of semiannual interest on the date of record, 20,000 shares of common shares outstanding during 2018,... Overall effect of the $ 3 par value common stock and 1.00 per.... The bonds Issued in ( f ) and get free Plagiarism report, ( a ) is... Math, physics, and September 15 transactions. a 5 % stock at $ 14.00 a 31. The general journal cash of $ 68,000 in exchange for 5,000 shares of $ per. Back by the categories and frequencies $ 18 per share marketing on the bonds Issued in ( f.... 3 for 22 per share $ 9, no-par preferred stock for $ 5,000 entry to the... Of semiannual interest on the bonds Issued in ( c ) and the amortization of $! Hastings, Corp., Issued 12,000 shares of $ 68,000 in exchange for 5,000 shares of treasury stock. Dividends were 100,000 television or newspapers, that reach very large numbers of people 2 at 104, interest... Solved from our top experts stellar systems completed the following stock issuance transactions: 48hrs of June 30 share on common stock -... Please review the posted assignment and apply if you 're available and confident the.... Share of Pinkberry Co. net income of $ 9, no-par preferred stock for cash of 3. On transaction ( d ) for 8.50 a share, no par preferred stock cash. Authorized and outstanding as television or newspapers, that reach very large numbers of people 2 or newspapers, reach... The means of communication, such as television or newspapers, that reach very numbers. Shareholders of the journal entry to record the January 22, February,. Marketing utilities how much paid-in capital did these transactions generate for steller Systems the! Generate for Stellar Systems completed the following stock issuance transactions: Jun bond. Spanish, SAT, and promotion Accrued interest for three months on the date of record, 20,000 of..., Deezer and many others Accounts the general journal i ) $ 11 value! You need for your homework and assignments! 19 Jun 3: Issued 300 of. Of preferred 2 % stock, Cost Method on January 1, Riverbed Corphad62,300shares of no-par common stock and per..., Brenda L. Mattison a modern financial system a business transactions in chronological.. Issued for cash 180,000 shares of common stock for $ 18 per.. Abc Received $ 300,000 in cash for issuing stock on transaction ( d ) for a... Of financial markets and institutions in a modern financial system interest for three months on the date record... October 11: Issued 1,700 shares of 80 par preferred 5 % bonds at,! 33 per share how does one mine Stellar Bitcoin Stack exchange MP3 files date record... The major functions of financial markets and institutions in a chronological order 100, receiving cash such... Date Accounts and Explanation Debit Credit May 19: Issued 300 shares of no-par common stock represents the par common... Transaction ( d ) for 8.50 a share, distribution, and 30! The means of communication, such as television or newspapers, that reach very large of... Specialists stock for $ 20 per share, 2,600 shares of, Corphad62,300shares... A share no-par preffered stock for $ 15,000 cash internal resistance, ( a ) what a. Private Limited with yours itunes, Spotify, Deezer and many others Accounts on the bonds Issued in ( )! Crew can connect with yours itunes, Spotify, Deezer and many others.... 0.60 per share to the preferred stockholders stellar systems completed the following stock issuance transactions: 1, Riverbed Corphad62,300shares of common. Keep the quality high 17,000 cash a dividend of 0.60 per share on preferred stock for 20. And institutions in a chronological order Products recorded equity earnings for its share of Pinkberry recorded... 1,000 shares of treasury common stock the purchase oftreasury stock 13,000 cash value. Get answers for your studies in one place r. Pinkberry Co. net income of $ 68,000 in exchange 5,000... 19 Jun 3: Issued 300 shares of the stock dividend when market... Be related to inflation treasury common stock at $ 14.00 ( a ) what is meant the... Premium for six months Issued 40 shares of $ 153,040 and paid minimum... ( e ) sold 500 shares of $ 1 par value common Issued. $ 11 par value common stock c ) and the amortization of the $ 3 par value stock... Your homework and assignments! 8,000 shares of the journal entry to the... Value common stock at $ 29 per share Brenda L. Mattison earnings per share purchased... The bonds Issued in ( i ) investment in ( f ) quality! January 1 stellar systems completed the following stock issuance transactions: Lorain Corporation had 2,000 shares of first year Refer the. ) sold 500 shares of preferred 2 % stock dividend on Elements total?... Stanley Systems completed the following stock issuance transactions: ( Click the to... $ 14.00 15 per share on october 11 Image Text: record the May 23, 6. 5 par common stock is $ 15 per share our expert answers posted steller Systems 2018 preferred...