User Account

All Pages

Prepare journal entries to record these transactions

Assignment Help Accounting Basics
Reference no: EM13915519

A Plus Corporation issued 5,000 shares of no-par common stock for $40 per share. A Plus also issued 2,000 shares of $50 par, 5 percent noncumulative preferred stock at $55 per share.

Required: 

a. Record these events in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event.

333_264-B-A-C (261).png

b. Prepare journal entries to record these transactions.

Reference no: EM13915519

Questions Cloud

Prepare a statement of cash flows based on the information : Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. if an item does not affect the cash flow statement, make a statemen..
Easton corporation : Last year Easton Corporation reported sales of $860,000, a contribution margin ratio of 40% and a net loss of $38,000.
An invoice price : Oct. 10 Buyer returned to Urquhart Company unacceptable merchandise that had an invoice price of $600. Urquhart receives them one day later and restores them to inventory. The returned goods had cost Urquhart $400.
What were the ramifications of the decision : Think of a major decision you have made. What factors helped you to make that decision? How can you relate a Type I or Type II error to your decision? What were the ramifications of the decision
Prepare journal entries to record these transactions : A Plus Corporation issued 5,000 shares of no-par common stock for $40 per share. A Plus also issued 2,000 shares of $50 par, 5 percent noncumulative preferred stock at $55 per share.
Benefits to an erp for old dominion trail bikes : Use the Case Study presented here to answer the questions below. Your answers should be long enough to answer each question fully and completely and typed the individual question.
Analyze the data and prepare a statement of cash flows : Sold equipment costing $48,000 with accumulated depreciation of $26,000 for $23,500 cash. 2. Paid a $50,000 cash dividend to owners.
Explain how the internet has aided criminal activity : The rapid growth of technology has aided Criminal activity in many ways. The internet allows communication between individuals without having to be near one another. It helps aide persons with interest of taking major companies under attack. With ..
Journal entries : Prepare the journal entries for each of the following transactions:

Reviews

Write a Review

Accounting Basics Questions & Answers

  The following information relates to california coffee

the following information relates to california coffee beans for 2007 net income 724.210 million unrealized holding

  Thomas company return on equity

The average stockholders' equity was $680,000. What is Thomas Company's return on equity (ROE)?

  How is it different from outsourcing

What is downsizing? How is it different from outsourcing?

  You are considering an investment opportunity that would

you are considering an investment opportunity that would give you 20000 per year at the end of each of the next 5

  Capital account balance at the end of the year

Carla and Eliza share income equally. During the current year the partnership net income was $40,000. Carla made withdrawals of $12,000 and Eliza made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Carla c..

  Financial statements are a product of the accounting cycle

financial statements are a product of the accounting cycle. think about two different companies a manufacturing company

  A truck contains 150 small packages some weighing 1 kg

a truck contains 150 small packages some weighing 1 kg each and some weighing 2 kg each. how many packages weighing 2

  Dexter company applies the direct write off method

Dexter Company applies the direct write off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter.

  Calendar year taxpayer and distribution

Stacey and Andrew each own one-half of the stock in Parakket Corporation, a calendar year taxpayer. Cash distributions from Parakeet are : $350,000 to Stacey on April 1 and $150,000 to Andrew on May 1. If Parakeet;s current E&P is $60,000, how muc..

  On july 1 2004 harper company signed a contract to lease

on july 1 2004 harper company signed a contract to lease space in a building for 15 years. the lease contract calls for

  How much should the national credit union invest in

the national credit union has 250000 available to invest in a12-month commitment. the money can be placed in treasury

  Chris hargrove is the owner of ap instant replay

Chris Hargrove is the owner of AP Instant Replay, a consignment shop for used sporting goods. Chris accepts consigned goods and offers them for sale to the general public.

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