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please help me with 11-3 to 11-5 your help is greatly appreciated thanks E11-3 During its first year of operations, Foyle Corporation had the following
please help me with 11-3 to 11-5 your help is greatly appreciated thanks
E11-3 During its first year of operations, Foyle Corporation had the following transac- Jounalize issuance of tions pertaining to its common stock. conmmon stock. Jan. 10 Issued 70,000 shares for cash at $5 per share (LO 2) July 1 Issued 40,000 shares for cash at $7 per share Instructions (a) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. E11-4 Osage Corporation issued 2,000 shares of stock. Journalize issuance o common stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000 (c) The stock had no par or stated value and was issued for a total of $52,000. (d) The stock had a par value of $5 per share and was issued to attorneys for services dur- (LO 2) strui n the ade f ing incorporation valued at $52,000 11-1 sued llow (e) The stock had a par value of $5 per share and was issued for land worth $52,000. E11-5 Hodge Corporation issued 100,000 shares of $20 par value, cumulative, 6% pre- Differentiate between ferred stock on January 1, 2018, for $2,300,000. In December 2020, Hodge declared its first preferred and common sto T. une uly ec. dividend of $500,000. Instructions (a) Prepare Hodge's journal entry to record the issuance of the preferred stock. (LO 2, 3) (b) If the preferred stock is not cumulative, how much of the $500,000 would be paid to common stockholders? (c) If the preferred stock is cumulative, how much of the $500,000 would be paid to nsti a) are common stockholders? nlon and Salyert, you encounter the following Journalize noncash co stock transactionsStep by Step Solution
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