Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 01, 2023

Company B decided to raise additional funds by issuing common stock. Company B received $500,000 by issuing 1,000 shares of $1 par value common

Company B decided to raise additional funds by issuing common stock. Company B received $500,000 by issuing 1,000 shares of $1 par value common stock, Company B incurred stock issue costs of $800. What is the journal entry to record this transaction?

Step by Step Solution

★★★★★

3.38 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

The journal entry to record the transaction of Company B issuing common stock and incurring stock i... 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

Step: 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

Intermediate Accounting

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

1st edition

978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302

More Books

Students also viewed these Accounting questions

Question

★★★★★

Journal Entries NEW Jan 1 Simon invested $60,000 cash into the business by purchasing capital stock at $10.00 par value. Jan 2 The Company borrowed $100,000 on a short-term 90 day, 12.0% note...

Answered: 1 week ago

Question

★★★★★

The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares...

Answered: 1 week ago

Question

★★★★★

Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received...

Answered: 1 week ago

Question

★★★★★

6. Kindly describe the accounting framework. What are the elements and how do they effect the financial statements? 7. What does the accounting model specify? What are the elements involved?

Answered: 1 week ago

Question

★★★★★

Explain how general purpose governments differ from special purpose governments and give a few examples of each type of government.

Answered: 1 week ago

Question

★★★★★

S6-14. (Learning Objectives 2, 4: Considering ethical implications of inventory actions) Determine whether each of the following actions in buying, selling, and accounting for inventories is ethical...

Answered: 1 week ago

Question

★★★★★

2.62 Sleep and the University Student How much sleep do you get on a typical school night? A group of 10 university students were asked to report the number of hours that they slept on the previous...

Answered: 1 week ago

Question

★★★★★

A cooling coil consists of a bank of aluminum (k = 237 W/m K) finned tubes having the core configuration of figure and an inner diameter of 13.8 mm. The tubes are installed in a plenum whose square...

Answered: 1 week ago

Question

★★★★★

1. How has the corona virus affected the capital and stock markets, businesses and individuals? 2. Has the corona virus highlighted income disparity? 3. How does income disparity lead to larger...

Answered: 1 week ago

Question

★★★★★

a. In Chapter 9, you created a Tic Tac Toe game in which you used a 2D array of characters to hold Xs and Os for a player and the computer. Now create a JPanel that uses an array of nine JButtons to...

Answered: 1 week ago

Question

★★★★★

On May 8, 1984, Hannah Eisenstat graduated from Louisiana State University. She set to work opening a coffee shop in Baton Rouge called HannaH and found a perfect location in a new development. Using...

Answered: 1 week ago

Question

★★★★★

+ 5. What record numbers would be in the final set of the following search (3 pts): Pharmacists and (Nebraska or Iowa) Iowa 302, 356, 411, 477, 522, 540, 587, 600, 633 (9) Nebraska - 310, 356, 439,...

Answered: 1 week ago

Question

★★★★★

Explain the importance of secure attachment in babies and identify what the educator must do to facilitate secure attachment

Answered: 1 week ago

Question

★★★★★

Design a simple passive low-pass filter with a corner frequency of 50 Hz. You may assume that 0.01 uF capacitor is available. What would be the resistor value that best approximates this filter? With...

Answered: 1 week ago

Question

★★★★★

What is the Linux equivalent of the Windows ls command displaying the details of the files and folders#?

Answered: 1 week ago

Question

★★★★★

Creating a Flexible Organization, describes the various ways organizations arrange themselves to achieve their goals and accomplish tasks. The structure of an organization is a function of the type...

Answered: 1 week ago

Question

★★★★★

please full calculation and explanation s On November 1, 2019, Mandrake Corp. and Olivier Ltd, reached an agreement to convert Olivier's outstanding account receivable into a 3-month,...

Answered: 1 week ago

Question

★★★★★

How is use of the word consistent helpful in fraud reports?

Answered: 1 week ago

Question

★★★★★

How does a principles-based standard differ from a rules-based standard?

Answered: 1 week ago

Question

★★★★★

You are asked to analyze Netflix, Inc.s EPS for the three years 2011, 2012, and 2013. Use the footnote disclosure to answer the following questions. a. Netflixs net income on the income statement is...

Answered: 1 week ago

Question

★★★★★

Computing Basic and Diluted EPS, Convertible Bonds, Disclosures. Note the following partial income statement for Cassie Corporation for the current year. Partial Income Statement For the Current Year...

Answered: 1 week ago

Question

★★★★★

Keiko arrived in Oshawa to study English at Durham College. She used travellers cheques totalling 1,000,000 to open a Canadian dollar bank account. What will her opening balance be if the bank...

Answered: 1 week ago

Question

★★★★★

How much will it cost in Canadian dollars to purchase 2000 pesos in Mexican currency at a bank that charges a 3.5% commission on the transaction? Use an exchange rate of C$1.00 = Mexican peso 11.87.

Answered: 1 week ago

Question

★★★★★

In April of 2007, Marielle bought 1200 shares of Yakamura Trading Co. on the Tokyo Stock Exchange at a price of 1150 per share. The exchange rate at the time was 105.04 per C$. She sold the stock for...

Answered: 1 week ago

Previous Question Next Question