Question
In: Accounting
Vaughn Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Vaughn Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $108,000.
| (a) | Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. | |
| (b) | Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $186 per share. |
Solutions
ekkarill92 answered 10 months agoRelated Solutions
Cullumber Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Cullumber Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
$121,000. (a) Prepare the journal entry for the issuance when the
market price of the common shares is $164 each and market price of
the preferred is $205 each. (b) Prepare the journal entry for the
issuance when only the market price of the common stock is known
and it is $212 per share. (Round...
ndigo Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
ndigo Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$121,000. (a) Prepare the journal entry for the issuance when the
market price of the common shares is $164 each and market price of
the preferred is $205 each. (b) Prepare the journal entry for the
issuance when only the market price of the common stock is known
and it is $212 per share. (Round...
Martinez Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Martinez Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
$120,000.
(a) Prepare the journal entry for the issuance when the market
price of the common shares is $164 each and market price of the
preferred is $205 each.
(b) Prepare the journal entry for the issuance when only the
market price of the common stock is known and it is $210 per share.
(Round...
Waterway Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Waterway Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
$112,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $168 each and market price of the
preferred is $210 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $194 per share.
Oriole Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Oriole Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$108,000.
(a) Prepare the journal entry for the issuance when the market
price of the common shares is $164 each and market price of the
preferred is $205 each.
(b) Prepare the journal entry for the issuance when only the
market price of the common stock is known and it is $186 per
share.
Sandhill Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Sandhill Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
$101,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $176 each and market price of the
preferred is $220 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $172 per share.
Sweet Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Sweet Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$113,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $172 each and market price of the
preferred is $215 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $196 per share.
(Round...
Flounder Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Flounder Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
$105,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $172 each and market price of the
preferred is $215 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $180 per share.
Oriole Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Oriole Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$110,000.
(a) Prepare the journal entry for the issuance when the market
price of the common shares is $180 each and market price of the
preferred is $225 each.
(b) Prepare the journal entry for the issuance when only the
market price of the common stock is known and it is $190 per
share.
Nash Inc. issues 500 shares of $10 par value common stock and 100 shares of $100...
Nash Inc. issues 500 shares of $10 par value common stock and
100 shares of $100 par value preferred stock for a lump sum of
$101,000.
(a)
Prepare the journal entry for the issuance when the market
price of the common shares is $176 each and market price of the
preferred is $220 each.
(b)
Prepare the journal entry for the issuance when only the market
price of the common stock is known and it is $172 per share.
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