FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a comapny has 100,000 of $5.00 Par authorized commen stock and 20,000 shares issued and outstanding. If a company issues another 6,000 shares at $20.00

a comapny has 100,000 of $5.00 Par authorized commen stock and 20,000 shares issued and outstanding. If a company issues another 6,000 shares at $20.00 per share, what is the amount credited to common stock in the journal entry to record this issuance?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Connect For Payroll Accounting 2020

Connect For Payroll Accounting 2020

Authors: Jeanette Landin

6th Edition

1260943895, 9781260943894

More Books

Students also viewed these Accounting questions

Question

★★★★★
Indicate whether each of the following statements is true or false by writing T or F in the answer column. 1. A general agent is a person authorized to assume complete charge of his or her principals...

Answered: 1 week ago

Question

★★★★★
P920 Weighted average cost of capital American Exploration, Inc., a natural gas producer, is trying to decide whether to revise its target capital structure. Currently, it targets a 5050 mix of debt...

Answered: 1 week ago

Question

★★★★★
2. Miss McClintock discovered that five of the children in her class were developmentally advanced. All of the students language skills were exploding! Although many of the students still had trouble...

Answered: 1 week ago

Question

★★★★★
Waldo Entertainment Products, Inc. is negotiating with Disney for the rights to manufacture and sell superhero-themed toys for a three-year period. At the end of year 3, Waldo plans to liquidate the...

Answered: 1 week ago

Question

★★★★★
8-43 On June 5, 2016, Javier Sanchez purchased and placed in service a new 7-year class asset costing $550,000 for use in his landscaping business, which he operates as a single member LLC (Sanchez...

Answered: 1 week ago

Question

★★★★★
The Mudd Company wants to make an after-tax profit of $150,000. The company sells each unit for $100 and variable costs represent 60% of sales. If fixed costs total $50,000 and the company's tax rate...

Answered: 1 week ago

Question

★★★★★
First Month of Operations The following transactions took place during the first month of operations of Mother Mollys Childcare. On May 1, Molly invests $50,000 to open Mother Mollys Childcare. On...

Answered: 1 week ago

Question

★★★★★
10. DJIA (LO4, CFA2) On May 31, 2022, the DJIA opened at 33,160.59. The divisor at that time was .15173. Suppose on this day the prices for 29 of the stocks remained unchanged and I stock increased...

Answered: 1 week ago

Question

★★★★★
Burdeno Appliances has two divisions, Sales and Financing. Sales is responsible for selling Burdenos inventory and maintaining inventory for future sale. Financing Division takes loan applications,...

Answered: 1 week ago

Question

★★★★★
Jason went to the post office and bought both 41-cent stamps and 26-cent postcards and spent $10.28. The number of stamps was 4 more than twice the number of postcards. How many of each did he buy?

Answered: 1 week ago

Question

★★★★★
Albany Division is considering the acquisition of a new asset that will cost $540,000 and have a cash flow of $184,000 per year for each of the four years of its life. Depreciation is computed on a...

Answered: 1 week ago

Question

★★★★★
What are the main people management issues of this study? How are these related to the resource-based view of the firm?

Answered: 1 week ago

Question

★★★★★
The university does not have a formal strategy for diversity management and it has to comply with the current employment laws. But it has introduced a number of initiatives (policies and practices)...

Answered: 1 week ago

Question

★★★★★
How does Jobtex s.r.o. (Llc.) adapt HRM practices to those of its international owners and management in Switzerland and at the same time meet local labor needs?

Answered: 1 week ago

Previous Question Next Question