Prepare the entries to record these transactions

Assignment Help Accounting Basics
Reference no: EM132782022

Question - On January 1, Cullumber Corporation had 94,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred.

Apr. 1 Issued 23,000 additional shares of common stock for $19 per share.

June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30.

July 10 Paid the $2 cash dividend.

Dec. 1 Issued 1,000 additional shares of common stock for $19 per share.

Dec. 15 Declared a cash dividend on outstanding shares of $1.80 per share to stockholders of record on December 31.

Required - Prepare the entries to record these transactions.

Reference no: EM132782022

Questions Cloud

Prepare a bank reconciliation on june : Prepare a bank reconciliation on 30 June 2019 based on $312 cheque was returned marked 'dishoncured' (NSF). The cheque had been received from 6 Simpson
Compare the role of coach and consultant : You have accepted an invitation to give a lecture at a local college on coaching. As a handout for the class, use the brochure feature of Microsoft Word.
What is the sales and gross income : Venus granted Mars full credit for the item returned. This was the only sale made by Venus in December. What is the sales and gross income
Health care information systems departments : What developments have led to the growth of health care information systems departments? What services do they provide?
Prepare the entries to record these transactions : On January 1, Cullumber Corporation had 94,000 shares of no-par common stock issued and outstanding. Prepare the entries to record these transactions
How much revenue from investment should plano report : Plano Corporation owns 75,000 of the 225,000 outstanding shares of Stromboli. How much revenue from investment should Plano report in 2017?
What types of functions will i be expected to perform : What types of functions will I be expected to perform? Are there any theories that I can use when dealing with the daily tasks of an X-ray department manager?
What trends in real gdp have occurred in the time period : What trends in real GDP have occurred in the time period shown in the BEA release highlights document? What time period shown in the document experienced.
Make financial position as at sept : Make financial position as at 30 Sept 20X5. On 1 October 20X4, the fair values of Streamer Co's net assets were equal to their carrying amounts

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the cost of service to groom one dog

Doggie Grooming provides grooming services for pets In April. the company earned $16, 100 in revenues and incurred the following operating costs to groom 660.

  Calculate the balance of retained earnings

Calculate the net income. Calculate the balance of Retained Earnings that would appear on a Balance Sheet at December 31, 2012.

  Prepare an overview diagram of the job-costing system

Prepare an overview diagram of the job-costing system at the University of Chicago Press.

  What is the approximate average annual cost of turnover

If the average turnover rate for employees is ten per year, what is the approximate average annual cost of turnover

  What are the three methods of depreciation

What are the three methods of depreciation? Develop a chart using an example of your choice and calculate the depreciation for 4 years.

  How many years must mike leave that balance

How many years must Mike leave that balance in fund in order to get his desired $1,000,000? At what interest rate must Serena's investment compound annually?

  Calculate depreciation for the first year

The cost of an asset is $1,110,000?, and its residual value is $240,000. Estimated useful life of the asset is ten years. Calculate depreciation for first year

  Discuss a process costing system

costing systems would be more effective than a process costing system

  Prepare in general journal format the entries that posted

Prepare in general journal format the entries that were posted, including a plausible description

  Dreary days inc sells raincoats at a selling price of 2500

dreary days inc. sells raincoats at a selling price of 25.00 for each raincoat. the variable cost per raincoat is

  Determine the equation for cost of goods available for sale

Determine The companies are likely to use the specific identification method to value its inventory?Determine The equation for cost of goods available for sale

  Transactions involving sales and cash receipts for the firm

Transactions involving sales and cash receipts for the firm during April 2016 follow, along with the general ledger accounts used to record these transactions

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!

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