Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi, can someone help me with these questions please ? Question 1 1 pts On July 28, our company issues 1,000 shares of $5 par
Hi, can someone help me with these questions please ? Question 1 1 pts On July 28, our company issues 1,000 shares of $5 par value common stock in exchange for $60,000 cash and $20,000 of equipment. You are preparing the journal entry. The dollar amount for Paid-in-Capital, in Excess of Par Value, common stock account is? Question 2 1 pts On November 7, our company declared a $1.00 per share cash dividend on 50,000 shares of $3 par value common stock outstanding to be paid on December 10 to stockholders of record as of November 30. The dollar amount of the dividend is? Question 3 1 pts Our company has no Treasury Stock. On January 25, we purchased 5,000 shares of treasury stock (our own stock) for $30 a share. The journal entry was made. On July 6, we sell 1,000 shares of treasury stock for $50 a share. The dollar amount for Treasury Stock, common account is
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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