Reference no: EM133500761

Stockholder's Equity

Question 1. Carlton Company issued 10,000 shares of common stock $1 par for $10 per share on July 10th

Required: Prepare the journal entry for the issuing of the stock

Question 2. Fern Corporation Issued 20,000 shares of $1 par common stock at $15 per share on June 15th.

Required: Prepare the journal entry for the issuing of the stock

Question 3. Smith Corporation issued 20,000 shares of preferred stock on August 3, 2020 for $40,000 cash.

Required: Prepare the journal entry for the issuing of the stock

Question 4. Jones Corporation declared a $50,000 cash dividend on June 1st payable to owners of record of July 1st on August 1st.

Required: Prepare the appropriate journal entries.

Question 5. Acme Corporation declared a land dividend on April 15th. At the declaration date the land had a book value of $100,000 and a fair market value of $150,000. The land is distributable to owners of record of May 15th on June 15th.

Required: Prepare the appropriate journal entries.

Question 6. Marigold Company declared a 10% common stock dividend on July 1st, to owners of record of August 1st, distributable on September 1st. The Common stock has a par value of $1 and a market value of $30. here are 200,000 shares issued and outstanding.

Required: Prepare the appropriate journal entries.

Question 7. Rose Company declared a 40% common stock dividend on July 1st, to owners of record of August 1st, distributable on September 1st. The Common stock has a par value of $1 and a market value of $50. There are 500,000 shares of stock issued and outstanding.

Required: Prepare the appropriate journal entries.

Question 8. Taylor Company purchased treasury stock for $200,000 0n June 1st-. They sold the treasury shares on July 31st for $180,000. Taylor does not have an additional paid in capital account. Prepare the required journal entries.

Question 9. Farmer Corporation purchased treasury stock on August 8th for $300,000. They sold the shareson for $ 350,000 on September 9th. Prepare the required journal entries.

Question 10. Watson Corporation purchased treasury stock on June 26thfor $ 75,000. They sold the treasury shares for $60,000 on October 11th. Watson has sufficient additional paid in capital to absorb the loss. Prepare the appropriate journal entries.