User Account

All Pages

Make journal entries for the transaction

Assignment Help Financial Accounting
Reference no: EM132484526

Question 1: Sunny Brooks Dairy was incorporated on January 1, 2019 and was authorized under its charter to issue the following shares 25,000 non-cumulative, non-voting 5% preferred shares and an unlimited number of no par-value voting common shares. Prepare journal entries for the following transactions:

Option a. Issued 5,000 preferred shares for $8 cash each on January 3, 2019

Option b. Issued 1,500 common shares for $2 cash each on January 3, 2019

Option c. Issued 5,000 preferred shares for $6 cash each on January 14, 2019

Option d. Issued 1,500 common shares for $2 cash each on August 2, 2019

Option e. Issued 750 preferred shares for equipment valued at $11,250 on December 20, 2019

Reference no: EM132484526

Questions Cloud

What is the value of deadweight loss : Draw and label a graph of deadweight loss associated with the monopoly price charged by Daraprim. What is the value of deadweight loss?
Illustrate typical isoquant for production function in graph : a. Illustrate typical isoquant for this production function in a graph
Determine current liability from a long-term liability : Determine current liability from a long-term liability. Why is it so important to report these separately? How is this information used in decision-making
Determine the size of the sample of sales invoices : Explain the statistical procedures you would use to determine the size of the sample of sales invoices to be examined
Make journal entries for the transaction : Non-voting 5% preferred shares and an unlimited number of no par-value voting common shares. Prepare journal entries for the transaction
What is net income after all of the transactions : Sharon deposits $7,000 into a new checking account for the company, receiving stock in exchange. After all of the transactions, what is net income
Experimental and conceptual art in canada : Les Automatistes and Painters Eleven rebelled against mainstream society and ushered in a new form of painting in Canada. Discuss.
Prepare journal entries for the declaration of the dividend : Prepare Journal Entries for The declaration of the dividend and The payment of the dividend. Monday Inc. has 150,000 common shares outstanding on January 1
Demand for commodity two will more than double : Darlene's utility function is U(q1, q2, q3) = ((q1)^3)((q2)^7)(q3). If her income doubles and prices remain unchanged, her demand for commodity

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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