User Account

All Pages

Journalize the entries for june 4 and october 9

Assignment Help Accounting Basics
Reference no: EM131128273

1. On June 4, Magic Carpet Inc., a carpet wholesaler, issued for cash 250,000 shares of no-par common stock (with a stated value of $3) at $12, and on October 9, it issued for cash 25,000 shares of $75 par preferred stock at $80.

(a) Journalize the entries for June 4 and October 9, assuming that the common stock is to be credited with the stated value.

(b) What is the total amount invested (total paid-in capital) by all stockholders as of October 9?

Reference no: EM131128273

Questions Cloud

Journalize the two entries to record the transactions : All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings.
The corporation agreed to assume responsibility : The corporation agreed to assume responsibility for paying the mortgage note and the accrued interest.Journalize the entries to record the transactions.
What does the bank balance sheet look like : what does the bank balance sheet look like? Ignore any loan loss reserves. How well-capitalized is the bank?
Journalize the entry to record the transaction : On January 30, Lift Time Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 18,000 shares of $10 par common stock with a current market price of $15.
Journalize the entries for june 4 and october 9 : What is the total amount invested (total paid-in capital) by all stockholders as of October 9?
Calculate the bank risk weighted assets before and after : Calculate the bank's risk-weighted assets before and after the agreement. Problems 4 through 11 relate to a sequence of transactions at OldhatFinancial.
What is the total amount invested by all stockholders : What is the total amount invested (total paid-in-capital) by all stockholders as of May 9?
Calculate the dividends per share on each class : Michelangelo Inc., a software development firm, has stock outstanding as follows:
Calculate the bank''s risk weight edassets : Consider a bank with the following balance sheet: Calculate the bank's risk-weightedassets.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Cash dividends paid by a corporation

Cash dividends paid by a corporation: a. reduces the net income of the corporation that declared the dividend. b. reduces the retained earnings of the corporation that declared the dividend.

  At january 1 2014 zella company has beginning inventory of

at january 1 2014 zella company has beginning inventory of 2000 dvd players. zella estimates it will sell 10000 units

  Discuss the assumptions needed for warder

While auditing the 2010 financial statements of Warder Corporation, you found evidence that the following were not included in its current liabilities on the December 31, 2010 balance sheet:

  What are some examples of non financial information

What are some examples of non financial information that is often used by management in performing its duties?

  Assuming that all direct materials are placed in process

assuming that all direct materials are placed in process at the beginning of production what is the total cost of the

  What is the reason for the apparent inconsistency between

1. provide examples of resources that are temporarily restricted as toa purposeb time andc the occurrence of a specific

  Stowers research issues bonds dated january 1 2011 that pay

stowers research issues bonds dated january 1 2011 that pay interest semiannually on june 30 and december 31. the bonds

  You want to have 2 million in real dollars in an account

you want to have 2 million in real dollars in an account when you retire in 40 years. the nominal return on your

  Create a nested function in cell h3 that looks up an exact

create a nested function in cell h3 that looks up an exact match to the airline code from the airlines worksheet and

  Crucial and difficult stage of any erp development project

Implementation is arguably the most crucial and difficult stage of any ERP development project. An organization's transition between legacy and enterprise systems can proceed smoothly, according to plan, or result in the disastrous consequences of..

  Wages and salaries should be 21380 plus 1580 per repair

carnations roof repair has provided the following information concering its budgeted costswages and salaries fixed cost

  Business bank account in exchange for capital

In each of the first three months of operation, Jake's Computer Repair Service generates a small profit. Jones decides to sell computers in addition to providing repair services and renames the proprietorship Jake's Computer Sales and Repair to re..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd