During its first year of operations, Swifty Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 69,500 shares for cash at $7 per share. July 1 Issued 38,000 shares for cash at $10 per share. Journalize the transactions, assuming that the common stock has a par value of $7 per share. (Record journal entries in the ord titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No E amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record lournal entries in account titles are automatically indented when amount 15 entered. Do not Indent manually. I no entry is require for the amounts.) earch Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record journal entries in the order presented in the pro 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 for the amounts.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 0 of 15 used SAVE FOR LATER SUBMIT AT earch 11/30 Your answer is correct. Prepare Tamarisk's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entere manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Cash 2530000 | 1 Preferred Stock 2070000 Paid-in Capital in Excess of Par-Preferred Stock 460000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Your answer is correct. If the preferred stock is not cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends 564400 SHOW LIST OF ACCOUNTS earch Common Stock Dividends 564400 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT x Your answer is incorrect. Try again. If the preferred stock is cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends 730000 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 7 of 15 used SAVE search Exercise 11-5 Tamarisk Corporation issued 115,000 shares of $18 par value, cumulative, 8% preferred stock on January 1, 2018, for $2,530,000. In December 2020, Tamarisk declared its first dividend of $730,000. Your answer is correct. Prepare Tamaris's journal entry to record the issuance of the preferred stock. (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 o for the amounts.) Account Titles and Explanation Debit Credit cash Preferred Stock Pald-in Capital in Cross of Par-Preferred Stock SOM LIST OF ACCOUNTS If the p red n otlive much of the 5710.000 de pe to common todos 039 PM 12/11/2010 Your answer is correct. If the preferred stock is not cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends 564400 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Your answer is incorrect. Try again. If the preferred stock is cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends 730000 Click if you would like to show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT De here to search Question Attominte-7 of 15 red SA
