User Account

All Pages

Prepare the journal entry to record item

Assignment Help Accounting Basics
Reference no: EM131621740

Question - Coronado Corporation is authorized to issue 55,000 shares of $5 par value common stock. During 2017, Coronado took part in the following selected transactions.

1. Issued 4,500 shares of stock at $42 per share, less costs related to the issuance of the stock totaling $9,100.

2. Issued 1,200 shares of stock for land appraised at $55,000. The stock was actively traded on a national stock exchange at approximately $43 per share on the date of issuance.

3. Purchased 480 shares of treasury stock at $44 per share. The treasury shares purchased were issued in 2013 at $41 per share.

(a) Prepare the journal entry to record item 1.

(b) Prepare the journal entry to record item 2.

(c) Prepare the journal entry to record item 3 using the cost method.

Reference no: EM131621740

Questions Cloud

Margaret thatcher and harold macmillan : Describe in two pages the core political and economic beliefs of Margaret Thatcher and Harold MacMillan.
The primary manner in which organized crime may impact : Analyze the primary manner in which organized crime may impact all areas in our lives.Give your opinion of whether or not the law in place to combat such crime.
Define business crimes : You are a supervisor at a construction site and you know that the trench or hole that your workers are working in his improperly shored
Importance in characterizing this period of history : The more compelling your choice of words and the more comprehensive your support for their importance in characterizing this period of history
Prepare the journal entry to record item : Coronado Corporation is authorized to issue 55,000 shares of $5 par value common stock. Prepare the journal entry to record item 1
What can the history of ptolemy map : What can the history of Ptolemy's Map (created in 150 CE, preserved by Arab Muslim scholars, rediscovered by Byzantine monks in 1295
Describe one of the types of intellectual property : Identify and describe one of the types of Intellectual Property. Explain how this Intellectual Property can boost the value of a company
Who are the non-western societies : Define imperialism. Secondly, who (generally) are the Western powers, who are the non-Western societies?
Differences between basic and diluted earnings per share : What are the differences between basic and diluted earnings per share? What are the differences between the numerator and the denominator

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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