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Issuing Par Value Stock Solutions Library

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14 solutions

Issuing Par Value Stock

Q. What is the correct entry for the sale of 200 shares of $10 par value preferred stock for $5,000? A. Dr. Cash $5,000; Cr. Preferred Stock $5,000 ...

Solved • Nov 17, 2017

Issuing Par Value Stock

Q. A corporation issued for cash 100,000 shares of its $0.01 par value common stock for $450,000. Which of the following is the correct journal entry ...

Solved • Aug 1, 2017

Issuing Par Value Stock

Q. A corporation sold 10,000 shares of $5 par value common stock for $40 per share. The journal entry to record the transaction will include: A) a cr...

Solved • Jul 31, 2017

Issuing Par Value Stock

Q. If the credit amount of an entry to record the sale of common stock for cash was not posted: a. Stockholders’ Equity would be understated b. Asse...

Solved • Jul 27, 2017

Issuing Par Value Stock

Q. First Watch, Inc. began its operations in 2006. During the year, shareholders paid in $200,000 in exchange for 40,000 shares of $1 par, common stoc...

Solved • Jul 27, 2017

Issuing Par Value Stock

Q. Which of the following reflects the impact of a transaction where $200,000 cash was contributed by stockholders in exchange for shares of stock? A...

Solved • Jul 19, 2017

Issuing Par Value Stock

Q. BC Company has the following authorized stock: Common stock: 1.00 par value, 100,000 shares. On 1/11/15, ABC Company issued 10,000 shares of common...

Solved • Jul 18, 2017

Issuing Par Value Stock

Q. ABC Company has the following authorized stock: Common stock: 1.00 par value, 100,000 shares. On 1/11/15, ABC Company issued 10,000 shares of commo...

Solved • Jul 18, 2017

Issuing Par Value Stock

Q. If common stock is issued for an amount greater than par value, the excess should be credited to a. Cash. b. Retained Earnings. c. Paid-in Capit...

Solved • Jul 18, 2017

Issuing Par Value Stock

Q. On June 1, W Company issued for cash 10,000 shares of $20 par common stock at $24. On July 1, it issued for cash 5,000 shares of $ 10 par preferred...

Solved • Jul 14, 2017

Issuing Par Value Stock

Q. S Company issued 1,000 shares of common stock at $10 per share. If the stock has a par value of $4 a share, the journal entry to record the issuanc...

Solved • Jul 13, 2017

Issuing Par Value Stock

Q. The entry to record the issuance of 500 shares of $10 par-value common stock for $14 a share consists of a debit to Cash for $7,000 and a credit to...

Solved • Jul 13, 2017

Issuing Par Value Stock

Q. The entry to record the issuance of 2,000 shares of $10 par-value common stock for $14 a share consists of a debit to Cash for $28,000 and a credit...

Solved • Jul 13, 2017

Issuing Par Value Stock

Q. Which account(s) would be increased with debits?     Purchase Discount        Common Stock            Bad Debt Expense a)           Yes          ...

Solved • Jul 7, 2017