4. Samson Company had the following transactions. 1. Issued 5,000 shares of $100 par preferred stock at $107 for cash. 2. Issued 8,000 shares of common stock with a par value of $10 for $120,000. 3. Purchased 500 shares of treasury common stock for $12,000. Instructions Prepare the journal entries to record the above stock transactions.
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- 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. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.Prepare the stockholders equity section of the balance sheet based on the following account balances: Common stock, 2 par, 60,000 shares 120,000 Preferred stock, 10 par, 5%, 4,000 shares 40,000 Common stock subscribed, 2 par, 3,000 shares 6,000 Retained earnings 17,000 The answers to the Self-Study Test Questions are at the end of the chapter (pages 811812).
- Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journalVaughn Company had the following transactions. 1. 2. Issued 4,600 shares of common stock with a stated value of $10 for $131,000. Issued 2,200 shares of $100 par preferred stock at $110 for cash. Prepare the journal entries to record the above stock transactions. (List all debit entries before automatically indented when the amount is entered. Do not indent manually.)Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
- Prepare the journal entry to record Zende Company's issuance of 84,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet 1 Record the issuance of 84,000 shares of $8 par value common stock assuming the shares sell for $8 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal Saved >A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to recordthe transaction would include which of the following?A. debit of $4,000 to common stockB. credit of $20,000 to common stockC. credit of $40 to common stockD. debit of $20,000 to common stock1. Journalize the following transactions: (a) Issued 1,000 shares of $10 par common stock at $59 for cash. (b) Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $60,000. (c) Purchased 100 shares of treasury stock at $32. (d) Sold the 100 shares of treasury stock purchased in (c) at $42.
- #1 - The following transactions were made by Shap Company. a. Prepare journal entries for the following transactions: 1. Issued 60,000 shares of common stock, $8 par value for $1,200,000. 2. Issued 10,000 shares of common stock, $8 par value for $$22 per share. 3. Purchased 10,000 shares of its common stock for the treasury, at $14 per share. 4. Sold 4,000 shares of its treasury stock for $18 per share. 5. Sold 2,000 shares of its treasury stock for $13 per share. b. Calculate the number of shares of treasury stock still held by Shap and the dollar amount in the Treasury Stock Show calculations. Company account C. Calculate the number of shares of common stock issued outstanding andBased on the following information, prepare journal entries for Windgate Corporation. Mar. 7 Issued 10,000 shares of $5 par common stock for $53,000 cash. 16 Issued 6,000 shares of $5 par common stock for $33,000 cash. 23 Issued 4,000 shares of $12 par, 7% preferred stock for $53,000 cash. 29 Issued 5,000 shares of $4 par common stock for land with a fair market value of $28,000.Blossom Company had these transactions during the current period. June 12 Issued 82,000 shares of $1 par value common stock for cash of $307,500. July 11 Issued 3,700 shares of $101 par value preferred stock for cash at $105 per share. Nov. 28 Purchased 2,450 shares of treasury stock for $8,800. Prepare the journal entries for the Blossom Company transactions shown above.