Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Bonita Company issues 8600 shares of $5 par value common stock for $286000. O Paid-In Capital in Excess of Par will be credited for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
If Bonita Company issues 8600 shares of $5 par value common stock for $286000. O Paid-In Capital in Excess of Par will be credited for $243000. O Common Stock will be credited for $286000. O Paid-In Capital in Excess of Par will be credited for $43000. O Cash will be debited for $243000. Waterway Company is a publicly held corporation whose $1 par value stock is actively traded at $67 per share. The company issued 3100 shares of stock to acquire land recently advertised at $232000. When recording this transaction, Waterway Company will O credit Paid-In Capital in Excess of Par for $207700. O debit Land for $207700 O credit Common Stock for $207700. O debit Land for $232000. Coronado, Inc. issued 18800 shares of stock with a stated value of $7 per share. The total issue of stock sold for $16 per share. The journal entry to record this transaction would include a O debit to Cash for $131600. O credit to Common Stock for $131600. O credit to Paid-in Capital in Excess of Par for $300800. O credit to Common Stock for $300800. Crane Construction Company issued 1230 shares of no-par common stock for $19400. Which of the following journal entries would be made if the stock has no stated value? Common Stock 19400 Cash 19400 Cash 19400 Common Stock 19400 Cash 19400 Common Stock 1230 Paid-in Capital in Excess of Stated Value 18170 Cash 19400 Common Stock 1230 Paid-in Capital in Excess of Par 18170

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

Step: 3

blur-text-image

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

Banking And Finance Issues In Emerging Markets

Authors: William A. Barnett

1st Edition

1787564541, 9781787564541

More Books

Students also viewed these Accounting questions