On August 5, Hansen Corporation issued 2,000 common shares for $12 per share. Prepare the journal entry
Question:
On August 5, Hansen Corporation issued 2,000 common shares for $12 per share. Prepare the journal entry for this transaction.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Aug 5 Cash 200...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Question Posted:
Students also viewed these Business questions
-
For each of the following events, prepare the journal entry (if one is required) to record the initial transaction, and then prepare the adjusting entry, if any, required on September 30, the end of...
-
Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0.50 par value common stock assuming the shares sell for: a. $0.50 cash per share. b. $2 cash per share.
-
Prepare the journal entry to record Selectist Companys issuance of 104,000 shares of no-par value common stock assuming the shares: a. Sell for $15 cash per share. b. Are exchanged for land valued at...
-
You mentioned that Amazon has sustainability topics within us supply chain. How we deal with the criticism that Amazon itself tribute to overconsumption that's antithetical to sustainability
-
On March I 2014, Russell Winery Ltd. purchased a five-hectare commercial vineyard for $1,050,000. The total purchase price was based on appraised market values of the building, grapevines, and...
-
Fort Erie Consumer Products manufactured a wide range of consumer products. To support all aspects of its acquisition, manufacturing, distribution, and marketing operations, the company maintained, a...
-
What arguments can be made in favor of international accounting harmonization, and what argu ments can be made against it? LO4
-
Randolph Dana owns a catering company that prepares banquets and parties for business functions throughout the year. Danas business is seasonal, with a heavy schedule during the summer months and the...
-
Current Attempt in Progress Wildhorse Inc. is a manufacturer of quality shoes. The company has always used a plant-wide allocation rate for allocating manufacturing overhead to its products. The...
-
Design a program that computes pay for employees. Allow a user to continuously input employees names until an appropriate sentinel value is entered. Also input each employees hourly wage and hours...
-
Match the statements in Column A with the appropriate term from Column B. Column A 1. 2. 3. 4. 5. 6. 7. 8. A company whose shares are not traded on an organized stock exchange like the TSX....
-
Wetland Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 100,000, $6 noncumulative preferred shares, and an unlimited number of common shares. The...
-
Using the Hofstede website discussed in the chapter, compute the cultural distance between the United States and Mexico. Then, compute the cultural distance between the United States and Ireland....
-
James A. and Ella R. Polk, ages 70 and 65, respectively, are retired physicians who live at 3319 Taylorcrest Street, Houston, Texas 77079. Their three adult children (Benjamin Polk, Michael Polk, and...
-
I need help solving the following question: - Thank you in advance. On January 1, Year 6, HD Lid., a building supply company, JC Lid., a construction company, and Mr. Saeid, a private investor,...
-
Let X 1 , , X n X 1 , , X n be a random sample from a normal distribution with mean and variance 1. Find the uniformly minimum variance unbiased estimator of 2 2 .2 answers
-
The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,600 Supplies...
-
1.Using the Excel file Sales transaction find the following15 Marks a.Identify the levels of measurement for each variables b.Construct a cross tabulation to find the number of transactions by...
-
a. Write an application containing an array of 15 String values (that are not originally in alphabetical order), and display them in ascending order. Save the file as StringSort.java. b. Write an...
-
Before the 1973 oil embargo and subsequent increases in the price of crude oil, gasoline usage in the United States had grown at a seasonally adjusted rate of 0.57 percent per month, with a standard...
-
At December 31, 2017, the trading investments for Yanik Inc., are as follows: Instructions (a) Prepare the adjusting entries required at December 31 to report the above investments at fair value. (b)...
-
Visage Cosmetics, a public company, acquires 40% of Image Fashion Inc.'s 30,000 common shares for $18 per share on January 2, 2017. On June 15, Image Fashion pays a cash dividend of $30,000. On...
-
On January 1, 2017, Studio27 Ltd., a private company, buys 25% of Sugar Maple Candy Company's 200,000 common shares for $480,000. On December 31, 2017, Sugar Maple pays a $35,000 cash dividend and...
-
Chapter o Homew ebook 50,000-unit production quantity: $ 227,049 7 70,000-unit production quantity: $ 66,751 d. In addition to mean profit, what other factors should FTC consider in determining a...
-
Diamond makes downhill ski equipment. Assume that comic has offered to produce ski poles for Diamond for $20 per pair Diamond needs 200,000 pairs of poles per period Diamond can only avoid 5150,000...
-
17? Which of the following statement is true Select one: a. All evidence must have the same level of reliability b. All evidence must have the same level of persuasiveness C. All are false d....
Study smarter with the SolutionInn App