Solution-Journalize transactions assuming that common stock

Journalize transactions assuming that common stock is no-par

Assignment Help Cost Accounting

Reference no: EM13546136

During the first year of operations, Benin's Health Club had the following transactions pertaining to its common stock

Jan. 8	Issued 50,000 shares for cash at $10 per share.
Aug. 1	Issued 25,000 shares for cash at $12 per share.

Instructions

(a) Journalize the transactions, assuming that the common stock has a par value of $1 per share.

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $0.50 per share.

Reference no: EM13546136

Questions Cloud

Prepare a retained earnings statement for 2008 : In 2008, Vega records an adjustment of $180,000 owing to the understatement of 2007 depreciation expense from a mathematical error. Prepare a retained earnings statement for 2008.

Show a retained earnings statement for the year : Prepare a retained earnings statement for the year - Peleus Hotels had retained earnings of $690,000. During the year plus had the following selected transactions:

Find by how much would the blood flow speed increase : The blood flow speed through an aorta with the radius 1.00 cm is .265 m/s. by how much would the blood flow speed increase

How much heat does the engine absorb : A modern engine of alloy construction consists of 24 kg of aluminum and 72 kg of iron. How much heat does the engine absorb

Journalize transactions assuming that common stock is no-par : Journalize the transactions, assuming that the common stock and journalize the transactions, assuming that the common stock is no-par with a stated value of $0.50 per share.

A beam of light is sent directly down onto a glass plate : A beam of light is sent directly down onto a glass plate (n = 1.5) and a plastic plate (n = 1.2) that form a thin wedge of air (see the drawing). An observer looking down through the glass plate sees the fringe pattern shown in the lower part of the ..

Evaluate the satellites orbital speed : A 655-kg satellite is in a circular orbit about Earth at a height above Earth equal to Earth's mean radius. Find the satellite's orbital speed

What is the net change in potential energy of the crate : Adisa pulls a 40-N crate up a 5.0-m long inclined plane at a constant velocity. If the plane is inclined at an angle of 37° to the horizontal and there is a constant force of friction of 10 N between the crate and the surface, what is the net change ..

Find the distance the block travelled : A block starts from rest at the top of a 35° inclined plane and encounters a spring, of constant 6.4 kN/m, rigidly attached to the plane. find the distance the block travelled before it encountered the spring

User Account

All Pages

Journalize transactions assuming that common stock is no-par

Reference no: EM13546136

Reference no: EM13546136

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT