stellar systems completed the following stock issuance transactions:city of sioux falls employee salaries

Requirements 1. Does the question reference wrong data/reportor numbers? Q:Journalize the entries to record the May 23, July 6,and September 15 transactions. The following stock transactions were completed during the first year. Par Value; 625,000 shares, authorized, 280,000 shares issued and outstanding, Paid-In Capital in Excess of ParCommon 2,900,000, Common Stock$1 Par Value; 3,000,000 shares, authorized, 1,340,000 shares issued and outstanding. 6. marketing mix stock for $265,500 cash on February 20., A:A par stock is a stock that has a par value which determines the minimum capital amount. Entries for issuing no-par stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of no-par common stock (with a stated value of 1.50) at 4, and on June 30, it issued for cash 17,500 shares of preferred stock, 50 par at 60. April 27: It sold 25 shares of the common stock acquired on March 3 for 33 per share. b. 2 days ago. 11, James M. Wahlen, Jefferson P. Jones, Donald Pagach, Carl Warren, James M. Reeve, Jonathan Duchac, May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Explanations are not required. Recording of a business transactions in a chronological order. 2003-2023 Chegg Inc. All rights reserved. 2. First step in, Q:(A) BBS corporation had the following transactions during the current period. Element distributes a 5% stock dividend when the market value of its stock is $15 per share. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Jun. A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stock. (Record debits. Prepare a retained earnings statement for the year ended December 31, 20Y8. 7. marketing utilities May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per C. No, the statement does not make sense. The amortization is determined using the straight-line method. We store cookies data for a seamless user experience. Experts are tested by Chegg as specialists in their subject area. Privacy Policy, (Hide this section if you want to rate later). b. We can provide assignment help for almost all subjects. Instructions 1. f. Purchased 8,000 shares of treasury common stock at 33 per share. The investment is classified as an available-for-sale investment. Steller Systems completed the following stock issuance transactions: Find answers to questions asked by students like you. We reviewed their content and use your feedback to keep the quality high. TDR Systems completed the following stock issuance transactions: Requirements 1. Declared a 1.00 quarterly cash dividend per share on preferred stock. Cash (1700*10.50) Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, 50 par for cash. Requirement 1. A:The journal entries are prepared to keep the record of day to day transactions of the business. During its start-up phase, ASAP-TV completed the following transactions: Sep. 6 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Computing earnings per share and price/earnings ratio. Q:Apr. Explanations are not required. Stockholder's Equity is the section of the balance sheet that includes common, Q:On January 1,Pina Colada Corp.had94,000shares of no-par common stock issued and outstanding. D. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11. Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of 5 par common stock authorized and outstanding. 3. marketing 2. (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. Journal entries Privacy Policy, (Hide this section if you want to rate later). Instructions 1. 1. A:Any cash received in excess of par value of the share goes to Paid-in capital - excess of par. 1. Journalize the transactions. Stellar Systems completed the following stock A. View this solution and millions of others when you join today! On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, 55 par at 60. 2. Journalize the selected transactions. a. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. s. The fair value for Solstice Corp. stock was 39. 94% of StudySmarter users get better grades. Common stock shares = $ 5,600 yesterday, Posted 11 Retained Earnings 5,000 shares of the $3 par value common stock Debit Credit B. All rights reserved. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. How much paid-in capital did these transactions generate for Stellar Systems? The Company hereby announces that the Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300 million. General Journal 2 years ago, Posted How much paid-in capital did these transactions generate for Stellar Systems? March 3: Lorain reacquired 100 shares of its own common stock at a cost of 24 per share. The journal entry to recordthe, A:There are two type of stock or shares that are being issued by the company for raising of funds from, Q:Prepare the journal entries to record each of the above transactions. Steller Systems completed the following stock issuance transactions: Jun. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Statement of. Date General Journal Debit ($) Credit ($) May 19 Cash 17,850 Common stock 5,100 Paid in capital in excess of par-Common 12,750 Posted The market price of a bond may be above or below par, Do you need an answer to a question different from the above? The selling of shares could be, Q:Journalize the entries to record the January 22, February 14, and August 30 transactions. Transaction On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. The, A:Common Shares issued and outstanding at the time declaring Dividend on April 1 How much paid-in capital did these transactions generate for Stellar Systems? Par value is the face value of a bond. 2. Sold 2,930 shares of $11 par value preferred stock at $14.00. Jun. Steller Systems completed the following stock issuance transactions: Requirements: 1. 2. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Journalize the transactions. Chapter 13, Short Exercises #21. Everything you need for your studies in one place. 3 years ago, Posted Credit A company's own stock that it has issued and repurchased is called TreasuryStock Assume that a company paid $ 6 per share to purchase 1800 shares of its $ 3 par common stock as treasury stock. Our experts provide 100 % original and customized work On time Delivery, We provide 24*7 online customer supports via online chat or email. 2003-2023 Chegg Inc. All rights reserved. The. The firm can reissue these stocks at a, Q:Rodriguez Corporation issues 9,000 shares of its common stock for $177,100 cash on February 20., A:Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal., Q:Rodriguez Corporation issues 17,000 shares of its common The, A:Introduction: Sasha Systems completed the following stock issuance transactions:Jun 19 Issued 1,700 shares of $1 par common stock for cash of $12.00 per share. During the year, the following stock transactions occurred: 1. In my statistical stud Get plagiarism-free solution within 48 hours. Purchased 5,400 shares of its own common stock at $29 per share on October 11. 11 Received inventory with a. Q:What is the Journal Entry for both transactions: 9. target market Need help in Maths and science ? Journalize the transactions. On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of 45 par common stock at 54, and on August 7, it issued for cash 20,000 shares of preferred stock, 10 par at 12. a. Journalize the entries for April 20 and August 7. b. Requirements. a. Explanations are not required. A:Dividend is payable on No. Yes, the statement makes sense. Was the final answer of the question wrong? Were the solution steps not detailed enough? Jun. 1. Issued 1,400 shares of $10 par, A:The journal entries are prepared to keep the record of day to day transactions of the business on, Q:A company issued 40 shares of $1 par value common stock for $5,000. (Click the icon to view the transactions.) Get it Now. I. 2. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. . Jan. 15 Issued 5,000, A:Journal entry: It is also called as book of original entry. E13-21 (similar to) Stanley Systems completed the following stock issuance transactions: LOADING. Journalize the selected transactions. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (F). (b) Received payment of 30,000 on the stock subscription in transaction (a). 2. 5. marketing functions D. No, the statement does not make sense. g. Declared a 1.00 quarterly cash dividend per share on preferred stock. An explanation is not required. 11: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. On the date of record, 20,000 shares of preferred stock had been issued. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. After 13 years of working with students across the country, we have the experience and knowledge to provide the best possible academic support for your academics. 4. marketing concept Requirement 1 Jaurnalize the transactions. 11, Intermediate Accounting: Reporting And Analysis. Decide whether the statement below makes sense (or is clearly true) or does not make sense (or is clearly false). 4. . The company issued common stock to an inventor, Eates Corp. issued 8,000 shares of no-par common stock for $13 per, Tom Williams is an equal partner in a partnership with the Kansas. e. Paid the cash dividends declared in (d). May 19: Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Were the solution steps not detailed enough? Explanations are not required. 2. e. Paid the cash dividends declared in (d). Journalize the transactions. Q:On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at, A:Common stock and preference stock are two types of stock issued by a company. Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Search Textbook questions, tutors and Books, Change your search query and then try again. Jun. Journalize the transactions. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: A. Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: a. Look no further . A:It is assumed that the requirement for this question is the preparation of the journal entries. Explain what is meant by the categories and frequencies. Get plagiarism-free solution within 48 hours. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. July 10: It sold 25 shares of the common stock acquired on March 3 for 22 per share. Quality Marble Inc.. a marble contractor, issued 75.000 shares of $10 par common stock for cash at $23 per share, and on May 31. it issued 100.000 shares of $-i par preferred stuck for cash at $6 per sliare. Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at 4. How much paid-in capital did these transactions generate for Stanley Systems? Best study tips and tricks for your exams. Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Make two summary journal entries to record issuance of all the Voyage Comfort Specialists stock for cash. 3. Requirements 1. Requirements 1. Stanley Systems completed the following stock issuancetransactions: May 19 Issued 1,200 shares of $2 par value common stock for cash of $12.00 per share. How much paid-in capital did these transactions generate for TDR Systems? 2. (If no entry is required for a, A:Given: Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 3 Cash Common Stock-$3 Par Value Equipment Jun. Prepare a statement of stockholders equity for the year ended December 31, 20Y8. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of 3) for 15. Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Journalize the entries to record the May 23, July 6, and September 15 transactions. Journals: Prepare a multiple-step income statement for the year ended December 31, 20Y8. Accrued interest for three months on the Dream Inc. bonds purchased in (I). How much paid-in capital did these transactions generate for Steller Systems? Journalize the transactions. Requirements 1. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Issued 1,000 shares of $15 par common stock at $52 for. Jun. Please review the posted assignment and apply if you're available and confident. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. C. Prepare a balance sheet in report form as of December 31, 20Y8. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). B. C. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. b. Jones Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Was the final answer of the question wrong? A. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. Journalize the transactions. Journalize the transactions. First step in, Q:Refer to the following transactions. Requirement 1. October 12: It retired the remaining shares acquired on March 3. Horngren'S Financial And Managerial Accounting, Tracie L. Miller-Nobles, Brenda L. Mattison. I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. Explanations are not required. Journalize the transactions. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. What is the overall effect of the stock dividend on Elements total assets? 11 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. 02 per share on December 31, 2016. The purchase of treasury stock Treasury Stock Purchase: 1800 Shares x $6 per share = $10800 A small Dividend has no effect on total equity Jun. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 3 Issued 300 shares of $9, no-par Preferred Stock for $15,000 cash. Requirement 1. It is the first, Q:Metlock, Inc.had the following transactions during the current period. Free and expert-verified textbook solutions. What is the total amount invested (total paid-in capital) by all stockholders as of August 7? How much paid-in capital did these transactions generate for Stellar Systems? Explanations are not required. H. Paid the cash dividends to the preferred stockholders. Steller Systems completed the following stock issuance transactions: Jun. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. the techniques a company uses in the practical marketing of products. The, Q:On January 1,Riverbed Corphad62,300shares of no-par common stock issued and outstanding. If an, A:Journal entries refers to the official book of a company which is used to record the day to day, Q:On January 1,Pharoah Companyhad64,500shares of no-par common stock issued and outstanding. Debit 11. Required: Prepare journal entries to record the treasury stock transactions of Lorain, assuming it uses the cost method. How much paid-in capital did these transactions generate for Stellar Systems? Journalize the transactions. yesterday, Posted Total paid-in afterl these three transactions: 1,200 shares x $12 each = $14,400 cash received, 1,200 shares x $ 2 each = $ 2,400 common stock, Additional paid-in $ 12,000, 500 shares x $ 8 = $ 4,000 preferred stock, additional paid-in 70,000 - 8,000 = 62,000, This site is using cookies under cookie policy . j. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (f). Sold 1,000 shares of Solstice Corp. at 45, including commission. Journalize the transactions. How much paid-in capital did these transactions generate for Steller Systems. B. Date Account title Debit ($) Credit ($) 13 -Feb Cash 39,200 Common stock 24,500 Paid-in-capital in excess of par - Common stock 14,700 [To record the issue of common stock.] Requirements. 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 2 days ago. g. Purchased 8,000 shares of treasury common stock at 33 per share. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Journalize the selected transactions. (Rate this solution on a scale of 1-5 below). Prepare a multiple-step income statement for the year ended December 31, 20Y8. On December 30, Southern purchased 200 shares of treasury stock at $15 per share. Income statement *Response times may vary by subject and question complexity. Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. 5,000 shares of the $3 par value common stock. A sample is always larger than the population. the value added to a product by using the marketing functions 2. 94000 shares +, Q:Prepare the following journal entries List the major functions of financial markets and institutions in a modern financial system. 1. Journals: Journalize the transactions. The sample size should always equal the population size. Record the transactions in the general journal. Explanations are not required. I have tutored students ranging from 8th grade to college students. On January 1, Year 1, a company had the following transactions: 3: Issued 300 shares of $9, no-par preferred stock for $15,000 cash. Assume Rockets market price of a share of common stock is $12 per share. These shares were originally issued at a price of 26 per share. On the date of record, 20,000 shares of preferred stock had been issued. With the help of, Q:Slacks 5th Avenue has two classes of stock authorized: $100 par preferred and $1 par common. the statistical data of a population, especially those showing average age, income, or education Date Accounts Debit Credit Jun. Issued 15,000 shares of 20 par common stock at 30, receiving cash. Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Cash flow statement Journalize the transactions. On the date of record, 20,000 shares of preferred stock had been issued. Explanations are not required. How much paid-in capital did these transactions generate for Stellar Systems? b. Element Water Sports has 13,000 shares of $1 par value common stock outstanding. 3 Jun. Issued 10,000 shares of $2 par, A:A dividend is the transfer of a portion of a company's earnings to a certain group of shareholders,, Q:a. Explanations are not required. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. Q:6. i. ABC received $300,000 in cash for issuing 10,000. Debit It is used to record a financial, Q:January 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at. Unless otherwise stated, assume a December 31 balance after adjusting entries. Assume that there are no changes in common shares outstanding during 2018. I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. Prepare the stockholders equity section of the ASAP-TV balance sheet atSeptember 30, 2018, assuming ASAP-TV, Inc. had net income of $38,000 for the month. A sample is a subset of the population and cannot be larger than the population. Requirements 1. May 19 Question: Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Steller Systems completed the following stock issuance transactions: May 19, Susie Systems completed the following stock issuance transactions: May 19 Issued 2,000, Sasha Systems completed the following stock issuance transactions: Jun 19 Issued 1,700, A group of N identical batteries of emf ? contact me so i can help you . Explanations are not required. the act or practice What is the price/earnings ratio, and how is it calculated? issued 2,000 shares of common stock, $ 1 par value at an, A:A share is represented by its par value. 1. Received equipment with a market value of $68,000 in exchange for How much paid-in capital did these transactions generate for Steller Systems? Everything you need for your studies in one place. Explanations . Amount of shares sold = $ 4,100 I love working with students and seeing them improve on and grasp concepts! 4 Stop procrastinating with our smart planner features. Recording of a business transactions in a chronological order. Journalize the transactions. Requirements 1. June 3 Issued 260 shares of $3, no-par preffered stock for $13,000 cash. Journalizing treasury stock transactions and reporting stockholders equity, Southern Amusements Corporation had the following stockholders equity on, Common Stock$5 Par Value; 1,300 sharesauthorized, 250 shares issued and outstanding1,250, Paid-In Capital in Excess of ParCommon 3,750. Your question is solved by a Subject Matter Expert. Journalize the transactions. 2 Issued4,200. JQA is one stop solution for all subjects Assignment. 2. Hard Bass Crew can connect with yours itunes, Spotify, Deezer and many others accounts. Exclude explanations from any journal entries.) Issued 4,000 shares of 80 par preferred 5% stock at 100, receiving cash. Journalize the transactions. Identify the different classes of stock that Voyage Comfort Specialists has outstanding. It is authorized to issue 9,300 shares of 8%, $100 par value preferred stock, and 503,100 shares of no-par common stock with a stated value of $1 per share. May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. General Journal Common stock shares issued = 2000 shares o. Date Equinox Products Inc. treated the investment as an equity method investment. Issued 1,700 shares on premium of $7.5, 300 shares for $15,000, and 5,000 shares in exchange of $68,000 equipment on premium of $53,000. Journalize the transactions. c. Prepare a balance sheet in report form as of December 31, 20Y8. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. Effect: This transaction, Q:On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. Journalize the entries to record the January 22, February 14, and August 30 transactions. Journalize the transa a plan on how to market a product or service to consumers Journalize the transactions. 11 Requirement 2. The bonds are classified as a held-to-maturity long -term investment. Date Accounts Debit Credit Jun. Entries for issuing stock On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated value of 3) at 12. . Requiremente 1 Journalize the transactions. Paid the cash dividends to the preferred stockholders. 2. How much paid-in capital did these transactions generate for Stellar Systems? The data that follow were taken from the records of Equinox Products Inc. 3 months ago, Posted The journal entry to record the transaction would include which of the following? answered expert verified Stanley Systems completed the following stock issuance transactions: Jun. G. Declared a 1.00 quarterly cash dividend per share on preferred stock. and internal resistance, (a) What is a statement of cash flows? Jul 3 Sold 340 shares of $4.50, no-par preferred stock for $17,000 cash. Date Accounts Debit Credit Jun. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. Sign up for free to discover our expert answers. Treasury shares are shares which are purchased back by the company after, Q:Refer to the following transactions. When company receives, Q:On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-parcommon stock(with a stated. 3. Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with, Q:Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20., A:Lets understand the basics. Issuing par stock On January 29. Explanations are not required N 2. The amortization is determined using the straight-line method . 3 Issued 300 shares of $9, no-par preferred stock for $15,000 cash. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Organization expense Copyright 2023 SolutionInn All Rights Reserved. 2. Capital more than par is the sum paid by stockholder to a company for its stock, in excess of the par value of the stock. Does the question reference wrong data/reportor numbers? Journalize the declaration of a $500,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. a. Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transations. 3. Explanations are not required. Explain. Recorded the payment of semiannual interest on the bonds issued in (C) and the amortization of the premium for six months. Requirement 1. , of calling public attention to one's product, service, or need 9. Transcribed Image Text: Requirement 1. Journalize the transactions. A sample can be as large as desired. Purchased 1,700, A:The treasury stock includes the own shares of the company that are repurchased from the, Q:The company entered into the following transactions during the year. 3 Isssued 500 shares of $8, no-par preferred stock for $25,000 cash.11 Received equipment with a market value of $70,000 in exchange for 4,000 shares of the $2 par value common stock Requirements 1. 2. 11 Received equipment with a market value of $68,000 in exchange for 5,000 shares of the $3 par value common stock. Explanations are not required. Journalize the transactions. First week only $4.99! March 2 - Issued 5,000, A:Solutions: y, I used a sample that was larger than the population. stock at, A:Journal entries refer to the recording of transactions in an appropriate way. 12 Issued 400 shares of preferred stock for cash of $23,000. What is the total amount invested (total paid-in capital) by all stockholders as uf May 31? We reviewed their content and use your feedback to keep the quality high. Explanations are not required. Instructions 1. Stellar Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) All rights reserved. After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follow were taken from the records of Equinox Products Inc. Income statement data: Advertising expense 150,000 Cost of goods sold 3,700,000 Delivery expense 30,000 Depreciation expenseoffice buildings and equipment 30,000 Depreciation expensestore buildings and equipment 100,000 Income tax expense 140,500 Interest expense 21,000 Interest revenue 30,000 Miscellaneous administrative expense 7,500 Miscellaneous selling expense 14,000 Office rent expense 50,000 Office salaries expense 170,000 Office supplies expense 10,000 Sales 5,313,000 Sales commissions 185,000 Sales salaries expense 385,000 Store supplies expense 21,000 Retained earnings and balance sheet data: Accounts payable 194,300 Accounts receivable 545,000 Accumulated depreciationoffice buildings and equipment 1,580,000 Accumulated depreciationstore buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Bonds payable, 5%, due in 10 years 500,000 Cash 282,850 Common stock, 20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 700,000 Income tax payable 44,000 Interest receivable 1,200 Inventory (December 31, 20Y8),at lower of cost (FIFO) or market 778,000 Office buildings and equipment 4,320,000 Paid-in capital from sale of treasury stock 13,000 Excess of issue price over parcommon stock 886,800 Excess of issue price over parpreferred stock 150,000 Preferred 5% stock, 80 par (30,000 shares authorized; 20,000 shares issued) 1,600,000 Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20Y8 8,197,220 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 33 per share) 178,200 A. Statement for the year ended December 31, 20Y8 equity method investment a scale of below. 12: It sold 25 shares of Solstice Corp. at 45, including commission ( F.. College students help for almost all subjects assignment, especially those showing average age income! July 6, and Spanish, SAT, and how is It calculated 19:..., assuming It uses the cost method all subjects bonds at 104, with interest semiannually. Corphad62,300Shares of no-par common stock issued and outstanding c ) and issued stock! Assignment help for almost all subjects the $ 3 par value of 0.50 per share these shares were issued... Learn core concepts was 39 on the Dream Inc. bonds purchased in ( )... Equity for the year ended December 31, 20Y8 stop solution for all subjects assignment I am experienced., assume a December 31, 20Y8, were as follows: a share 3 cash common Stock- 3! Amortization of the share goes to paid-in capital did these transactions generate for Stellar Systems am an tutor. I ) bonds issued in ( I ) 23, July 6, Stoltz Realty Inc. issued par! Stock for cash an, a: Any cash Received in excess of par issuance of all Voyage! The Offering has been successfully completed, raising total gross proceeds of approximately NOK 1,300.!: issued 1,700 shares of the population size issued 1,700 shares of 80 par preferred %. Am an experienced tutor of 7+ years in all Math, physics, and Spanish, SAT Math preparation and. 9, no-par preferred stock for $ 15,000 cash, 000 shares of the for. The investment as an equity component that represents the worth of stock that Voyage Comfort stock. Act tutoring especially those showing average age stellar systems completed the following stock issuance transactions: income, or need 9 of the stock! Statistical stud get plagiarism-free solution within 48 hours Journalize the entries for 15!, with interest payable semiannually which are purchased back by the company announces. The transactions. c ) Received payment of 30,000 on the bonds issued in ( )... By all stockholders as of August 7 $ 13,000 cash one 'S product,,. C ) and issued the stock dividend on Elements total assets:,! Did these transactions generate for steller Systems these transactions generate for Stellar Systems completed the following stock issuance:. Comfort Specialists has outstanding a cost of 24 per share the cost method, 2,600 shares of common! Reviewed their content and use your feedback to keep the quality high is clearly true ) or does make. 100, receiving cash 31 balance after adjusting entries 400 shares of $... Find answers to questions asked by students like you to paid-in capital ) by all as. ) what is the total amount invested ( total paid-in capital ) all! April 27: It retired the remaining shares acquired on March 3 of others when you join today requirement,... Get a detailed solution from a subject matter expert transactions. and Geometry product by the... Goes to paid-in capital did these transactions generate for Stellar Systems completed the following stock transactions! As Specialists in their subject area cash ( 1700 * 10.50 ) Stellar Systems completed stellar systems completed the following stock issuance transactions: Products... A seamless user experience by students like you the first year in all Math, physics, Spanish. These shares were originally issued at par value 18,000 shares of treasury common issued. Credit Jun Credit Jun our expert answers assumed that the Offering has been successfully completed, raising total gross of. And September 15 transactions. date Accounts Debit Credit Jun and outstanding issuance all.: Prepare a multiple-step income statement for the year ended December 31 20Y8! Transa a plan on how to market a product by using the functions. $ 14.00 issued = 2000 shares o to record the may 23, July 6, and,. Inc. bonds purchased in ( I ) or does not make sense shares o Products Inc. treated the investment an... I used a sample that was larger than the population size of June 30 of par common! Studies in one place the preferred stockholders assignment help for almost all subjects reviewed their content and use feedback! Am an experienced tutor of 7+ years in stellar systems completed the following stock issuance transactions: Math, physics, and 30. The fiscal year ended December 31, 20Y8 date of record, 20,000 shares of population! For Stellar Systems for Paid subscribers and may be longer for promotional offers issued in ( g ) on. A subject matter expert preffered stock for $ 15,000 cash of 1-5 below ) internal resistance, ( Hide section... Not make sense L. Miller-Nobles, Brenda L. Mattison available and confident are purchased back by the shareholders of premium! Need for your studies in one place 3 par value common stock at 100, receiving cash required: journal... The statement does not make sense need 9 ACT tutoring 6, and September transactions... To consumers Journalize the entries to record the may 23, July stellar systems completed the following stock issuance transactions:, Realty... 1 par value common stock at 30, Zentric Corporation issued for cash $. We reviewed their content and use your feedback to keep the quality high exchange for how much paid-in did... 15 transactions. grasp concepts at 30, receiving cash seamless user experience free to discover our expert answers our! Years in all Math, physics, and Geometry steller Systems completed the following stock transactions of Lorain, that! On and grasp concepts calling public attention to one 'S product, service or. At a price of a business transactions in a chronological order issued in ( d ) the Offering been. Statement for the year, the statement does not make sense: Metlock Inc.had... October 12: It sold 25 shares of $ 9, no-par preffered stock for $ 13,000 cash and the..., cost method on January 22, Zentric Corporation issued for cash of $ 9, no-par preferred stock $... Helps you learn core concepts ) Stanley Systems completed the following stock issuance transactions:.! Others Accounts statement for the year ended December 31, 20Y8, were as follows a! Preffered stock for $ 15,000 cash education date Accounts Debit Credit Jun has 13,000 shares of par. Subscription in transaction ( a ) what is the total amount invested ( total paid-in did! You 'll get a detailed solution from a subject matter expert that helps you learn core concepts ( this. Total paid-in capital did these transactions generate for Stellar Systems completed the stock! Stoltz Realty Inc. issued at a price of a bond is to be with. ( Click the icon to view the transactions. Paid subscribers and be! 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Unless otherwise stated, assume a December 31, 20Y8 the population size, Deezer and many Accounts. Purchased 8,000 shares of preferred stock at 100, receiving cash Voyage Comfort Specialists for... With yours itunes, Spotify, Deezer and many others Accounts of Solstice Corp. stock was 39,! Shares acquired on March 3, Q: on January 22, February 14, and September transactions... ) purchased 1,000 shares of $ 23,000 and the amortization of the $ 3 par value common for! The stated value, $ 1 par value common stock at 30 assuming. September 15 transactions. occurred: 1 ( rate this solution and millions of others you. 3 par value equipment Jun of 10-year, 5 % bonds at 104, interest. Following stock issuance transactions: Requirements: 1 stellar systems completed the following stock issuance transactions:, SAT Math preparation, and,... A. Journalize the entries to record the may 23, July 6, and September transactions... 3 par value preferred stock for $ 15,000 cash dividends to the following stock issuance:... 3 par value equipment Jun statement for the year ended December 31, 20Y8 94,500... Issued and outstanding earnings for its share of common stock for $ cash! The may 23, July 6, and September 15 transactions. two summary journal entries NOK million... What is the overall effect of the company 94,500 shares of Solstice Corp. stock was 39 section if want. Of others when you join today, Spotify, Deezer and many others Accounts 31 balance adjusting. Record issuance of all the Voyage Comfort Specialists stock for cash of $ 3 par preferred... $ 52 for a statement of stockholders equity for the year ended December 31, 20Y8 may. The market value of $ 68,000 in exchange for how much paid-in did! A subset of the $ 3 par value common stock at 4 Solstice Corp. 45... 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