Pronghorn Inc. issued 4.200 of its common shares common shares for $ 4.90 each. The company incurred $3,200 in costs associated with issuing the common shares. Prepare the journal entry to record the issuance of the common shares. (Credit atount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts

Pronghorn Inc. issued 4.200 of its common shares common shares for $ 4.90 each. The company incurred $3,200 in costs associated with issuing the common shares. Prepare the journal entry to record the issuance of the common shares. (Credit atount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pronghorn Inc. issued 4,200 of its common shares common shares for $ 4.90 each. The company incurred $3,200 in costs associated with issuing the common shares. Prepare the journal entry to record the issuance of the common shares. (Credit acount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Flounder Limited issued 1,930 common shares for $61,760. (a) Prepare Flounder's journal entry if the shares have no par value. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit
Crane Corporation issued 250 shares of $10 par value common stock for $3,750.Prepare Crane’s journal entry. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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.)
Sunland Corporation issued 310 shares of $10 par value common stock for $4,650.Prepare Sunland’s journal entry. (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.)
Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per share. Journalize 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
Tamarisk, Inc. issues 9,400 shares of $106 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically Indented when amount Is entered. Do not Indent manually. If no entry Is requlred, select "No Entry" for the account titles and enter o for the amounts.)
Shamrock, Inc. issues 9,100 shares of $106 par value preferred stock for cash at $114 per share.Journalize 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 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
Windsor, Inc. issues 9,600 shares of $102 par value preferred stock for cash at $115 per share.Journalize 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 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
On November 27, the board of directors of Marin Company declared a $0.40 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Marin has 26,500 shares of $1 par common stock outstanding at November 27.Journalize the entries needed on the declaration and payment dates. (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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
On May 1, Carla Vista Corporation purchased 2,800 shares of its $10 par value common stock at a cash price of $13/share. On July 15, 750 shares of the treasury stock were sold for cash at $18/share. Journalize the two transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Account Titles and Explanation Debit Credit May 1 Treasury Stock 36400 Cash 36400 Jul. 15 Cash Treasury Stock Paid-in Capital from Treasury Stock Save for Later Attempts: 1 of 4 used Submit Answer
On May 1, Carla Vista Corporation purchased 2,400 shares of its $10 par value common stock at a cash price of $12/share. On July 15, 850 shares of the treasury stock were sold for cash at $18/share. Journalize the two transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Account Titles and Explanation Debit Credit
Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Metlock issued 4,400 shares of restricted stock units instead of 4,400 shares of restricted stock. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount Please help with Journal Entry and Solving.