Concord Corporation has been authorized to issue 20,000 shares of $10.pdf

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Concord Corporation has been authorized to issue 20,000 shares of $100 par value, 10%, preferred stock and 997,100 shares of nopar common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. The preferred stock was issued for land having a fair value of $141,500. All common stock issued was for cash. In November, 1,440 shares of common stock were purchased for the treasury at a per share cost of $13. In December, 480 shares of treasury stock were sold for \$16 per share. No dividends were declared in 2022. Prepare the joumal entries for the: (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. (b) Prepare the stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) CONCORD CORPORATION Balance Sheet (Partial) $$.

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Similar to Concord Corporation has been authorized to issue 20,000 shares of $10.pdf

Journalize the 2022 transactions and post to the account Stock investments. (Use the Taccount form) (Rht ail debit entries before credit entries Credit account titler are outanoticoly indented when omount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter Ofor the amounts. Record journol entries in the order presented in the problem) On December 31,2021 , the end of its first year of operations, Wildhorse Associates owned the following securities, that are held as a long-term investments. The securities are not held for influence or control of the investee. On Decamber 31, 2021, the total fair value of the securities was equal to its cost. in 2022, the following transactions occurred. Mug: 1 Received 3050 per share canh dividend on Gehring Co, common stock Sept. 1 Sold 1440 shares of Wooderson Ca. commonstock for cash at $8 per share. Oc. 1 Sold 760 shares of Gehring Co. common stock for cash at $33 per share. Now 1 Received $1 per share cash dividend on Kitselton Co. common stock. Dec. 15 Recrived saso per shase cash dividend on Gehring Co. common stock. Dec. 31 Recelved $1 per share aninual cash dividend on Wooderson Ca. comman stock: At December 31, the fair values per stare of the common stocks were: Gehring Co. $32. Wooderson Ca, 58 , and Kitselton Ca. $20. These investments should be classifed as lons term..

Journalize the 2022 transactions and post to the account Stock inv.pdf

concordpharma

Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common. stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2 , 2021,4,000,000 shares of the common stock are issued in exchange for cash at an average price of $12 per share. Also on January 2. ail 2,000,000 shares of preferred stock are issued at $25 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus bolance sheet as of March 31, 2021. (Assume net income for the first. quarter 2021 was $1,650,000. Part B During 2021, the Nickdaus Corporation partiopated in three treasury stock transactions: a. On June 30,2021 b. On July 31, 2021, 15, 0ution reacquires 230,000 shares for the treasury at a price of $14 per share. c. On September 30,2021,15,000 treasury shares are reissued ot $12 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30. 2021. (Assume net income for the second and third quarter was $3,150,000 ) Part C On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800, 000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new par value is one-haif the amount of the old, this represents a 2.for-1 stock split. That is, the shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1 par stock they own. The $1 por stock will be collected and destroyed by the issuing corporation. On November 1, 2021, the Nicklaus Corporation declares a $0.16 per share cash dividend on common stock and a $0.33 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the Nicklaus Corporation declares a ts stock dividend payable on December 28, 2021, to sharehoiders of record on December 14. At the date of deciaration, the common stock was seling in the open market at $12 per share. The dividend will resuit in 76,000(0.017,600,000) additional shares being issued to shareholders. Required: 1. Prepare journat entries to record the deciaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,650,000j 3. Prepare a statement of shareholders' equity for Nicilaus Corporation for 2021.On December 2, 2021, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market a.

Part A In late 2020 the Nicklaus Corporation was formed Th.pdf

agarshail

Journalize the transactions and the closing entry for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Enter the beginning balances in the accounts, and poat the journal entries to the stockhol ders' equity accounts. (Use J5 for the (c) Prspars a stockhalders' squity section at Decamber 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) CULVER CORPORATION Balance Sheet (Partial) $$ The stockholders' equity accounts of Culver Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for $116,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $32,900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at \$35,700. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $415,000. No dividends were declared during the year..

Journalize the transactions and the closing entry for net income. .pdf

mukeshkumawat551

Sheridan has a 35% income tax rate. During the following fiscal year ended December 31,2024 , the company had the following transactions and events: Feb. 1 Repurchased 10,000 common shares for $40 , 000 . July 12 Announced a 2-for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150 . Dec. 1 Declared the annual cash dividend (\$1.50 post-split) to the preferred shareholders of record on January 10,2025 , payable on January 31, 2025. Dec. 18 Declared a 10% stock dividend to common shareholders of record at December 20 , distributable on January 12 , 2025. The fair value of the common shares was $10 per share. Dec. 31 Determined that for 2024 , profit before income tax was $320 , 000 and other comprehensive income, net of income tax expense of $41 , 300 , was $76 , 700 . P n .

Sheridan has a 35- income tax rate- During the following fiscal year e.docx

kthomas16

Heritage Ltd. was organized on January 2, 2020. The following investment transactions and events occurred during the following months: 2020 Jan. 6 Heritage paid $589,500 for 51,400 shares (20%) of Port Inc. outstanding common shares. Apr. 30 Port declared and paid a cash dividend of $1.50 per share. Dec. 31 Port announced that its profit for 2020 was $620,000. Fair value of the shares was $13.20 per share. 2021 Oct. 15 Port declared and paid a cash dividend of $1.10 per share. Dec. 31 Port announced that its profit for 2021 was $770,000. Fair value of the shares was $13.58 per share. 2022 Jan. 5 Heritage sold all of its investment in Port for $696,000 cash. Assume that Heritage has a significant influence over Port with its 20% share. Required: 1. Prepare the entries to record the preceding transactions in Heritages books..

Heritage Ltd was organized on January 2 2020 The followin.pdf

sales79

The Annapolis Corporation's stockholders' equity accounts have the following balances as of January 1,201 12% preferred stock, cumulative, $50 par (10,000 shares issued and outstanding) 5500,000 Common stock, $10 par (100,000 shares issued and outstanding) Additional paid-in capitat common Retained earnings Total stockholders' equity 1 , 000 , 000 1 , 000 , 000 3 , 750 , 000 $ , 250 , 000 Annapolis engaged in the following dividend transactions during 2018, 2019, and 2020 . 3 3s Dividends are in arrears for 2016 and 2017, On December 1, 2018, the annual cash dividend plus the dividends in arrears were dectared on the preferred stock. In addition, a 51.50 per share dividend was declared on the common stock. The dividends were paid on December 31,2018 . On December 1, 2019, the annual cash dividend on the preferred stock was declared. The dividend was paid on Decernber 31, 2019. On December 10 , a 30% stock dividend was declared on the common stock, distributable on January 25, 2020. The market price per share for the common stock on December 10,2019, was $28 . On January 25, 2020, the stock dividend declared on Decernber 10, 2019, was issued On December 1, the annual cash dividend on the preferred ttock was declared; it is payable on Jamuary 15 , 2021 . In aquition. on December t 1 = 104 stoek dividend was deolared on the common stock, distributable on January 20, 2021. The market price per share for the common stock on December 1,2020, was $23 . No other stock transactions took place during 2018, 2019, or 2020. Reguired Prepare the entries to record the dividond transactions for 2018, 2019, and 2020. (Do not record any transactions.

The Annapolis Corporation's stockholders' equity accounts have the fol.pdf

aadyacouture

Can someone please help with the ones in RED? Cullumber, Inc. had the following equity investment portfolio at January 1, 2020. During 2020 , the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30 , Cullumber, Inc. sold 310 shares of Chance Company for $10 per share. 3. On May 15, Cullumber, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31,2020 , the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7. During 2021, the following transactions took place. 5. On February 1, Cullumber, Inc. sold the remaining Chance shares for $7 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2021, the stocks had the following price per share values: Evers $19 and Rogers $19. Prepare journal entries for each of the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (6) Cash 1800 Dividend Revenue (7) Dividend Receivable 3240 Dividend Revenue (8) Fair Value Adjustment Unrealized Holding Gain or Loss - Equity (b) Your answer is partially correct. Prepare a partial balance sheet showing the investment- related amounts to be reported at December 31, 2020 and 2021. Cullumber, Inc. Balance Sheet (Partial) December 31, 2020 December 31, 2021 Current Assets Dividend Receivable $ 0 $3240 Investments Equity Investments.

Can someone please help with the ones in RED Cullumber, Inc. had th.pdf

akpatra2000

Blossom Farms is a grower of hybrid seed corn for Bend Genetics Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds. The following selected transactions relate to bonds acquired as an investment by Blossom Farms, whose fiscal year ends on December 31. 2020 Jan. 1 Purchased at par $646,000 of Dover Corporation 10 - year, 6% bonds dated January 1,2020 , directly from the issuing corporation. July 1 Received the semiannual interest on the Dover bonds. Dec. 31 Accrual of interest at year-end on the Dover bonds. Assume that all intervening transactions and adjustments have been properly recorded and the number of bonds owned has not changed from December 31, 2020, to December 31, 2022. Journalize the listed transactions for the years 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.).

Blossom Farms is a grower of hybrid seed corn for Bend Genetics Corpo.pdf

amanaharma262

Prepare the stockholders' equity section of Headland Corporation's balance sheet as of December 31,2020 . (Enter account nome only and do not provide descriptlve information) On January 5, 2020, Headland Corporation received a charter granting the right to issue 4,800 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 46,600 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Issued 19,200 shares of common stock at $14 per share. Feb. 1 Issued to Sanchez Corp. 4,100 shares of preferred stock for the following assets: equipment with a fair value of $54 , 700 ; a factory building with a fair value of $156 , 000 ; and land with an appraised value of $293.000 . July 29 Purchased 1,700 shares of common stock at $17 per share. (Use cost method.) Aug. 10 Sold the 1,700 treasury shares at $15 per share. Dec. 31 Declared a $0.40 per share cash dividend on the cormmon stock and declared the preferred dividend. Dec.31 Closed the income Summary account. There was a $181 , 300 net income..

Prepare the stockholders' equity section of Headland Corporation's bal.pdf

sunglasses24

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