On January 6, Dee-Light Corporation issued for cash 22,750 shares of $2 par value common stock at $32 per share. On May 10, Dee-Light issued at par 4,200 shares of preferred 3% stock, $20 par for cash. On June 22, Dee-Light issued for cash 27,650 shares of 3%, $25 par value preferred stock at $31 per share. Determine the amount of cash that Dee-Light will receive from each of these stock issuances. Issue Date   Cash Received January 6     May 10     June 22     Recording in the Accounting System Journalize the entry to record the January 6 issuance of common stock. If an amount box does not require an entry, leave it blank or enter "0". Jan. 6                       Journalize the entry to record the May 10 issuance of preferred stock. May 10   fill in the blank         fill in the blank Journalize the entry to record the June 22 issuance of preferred stock. If an amount box does not require an entry, leave it blank or enter "0". June 22   fill in the blank fill in the blank     fill in the blank fill in the blank     fill in the blank fill in the blank

Q: Empresas La Sierra presents the following information: • On January 5, the company issues 25,000…

A: Journal: It refers to an account which shows all the financial transactions pertaining to a…

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par…

A: Given, 1,000,000 common shares (stated value of $0.25) issued at $1.20 10,000 preferred shares (par…

Q: Instructions: prepare the journal entries on above transactions.

A: Calculation of Dividend Paid :- Shares outstanding at the beginning 60000 Add : New issue…

Q: Sneed Corporation issues 13,300 shares of $46 par preferred stock for cash at $61 per share. The…

A: Whenever the preferred stock shares are issued at premium i.e above their par value, the par value…

Q: On February 22, Brett Corporation acquired 180 shares of its $3 par value common stock for $26 each.…

A: The accounting entry on purchase of treasury share at 26 was Debit Treasury stock 4680 and credit…

Q: On July 1, Pharoah Company purchases 590 shares of its $5 par value common stock for the treasury at…

A: Treasury Stock - It is reacquired stock which is brought back by the issuing company, reducing the…

Q: During its first year of operations, Johnson Corporation had the following transactions pertaining…

A: Working notes:  Jan 10 = 80,800 shares * $6 per share. = $484800  Jan 10 = 80,800 shares * $4 per…

Q: On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000…

A: Preferred stock runs more like a bond than regular stock. Preferred stock dividend yields are…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par…

A: The stockholder's equity is a major section in the balance sheet which reports the company's…

Q: On January 1, Tesla had 40,000 shares of $10 par value common stock issued and outstanding. All…

A: A treasury stock means a reacquired stock which is repurchased by the organization or company,…

Q: Bridgeport Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of…

A: The shareholders' equity section records the shares issued to shareholders and other retained…

Q: Flint Co. had the following transactions during the current period. Mar. 2 Issued 4,100 shares of $6…

A: Increase in assets should be debited. Increase in expense should be debited. Increase in equity…

Q: On January 1, Riverbed Corp had 62,300 shares of no-par common stock issued and outstanding. The…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: On March 15, American Eagle declares a quarterly cash dividend of $0.125 per share payable on April…

A:

Q: Rodriguez Corporation issues 15,000 shares of its common stock for $209,500 cash on February 20.…

A: If shares were issued at a premium then the difference between issue price and par value is…

Q: Metlock, Inc. had the following transactions during the current period. Mar. 2   Issued 4,800…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: During its first year of operations, Collin Raye Corporation had the following transactions…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

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A: Total par value of preferred stock issued = No. of shares issued x par value per share = 11,600…

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A: Issue of common stock is one of the ways in which the companies can raise funds for financing the…

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A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

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A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

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A: Share issued Known as issued shares, these are the subset of authorized shares that have been sold…

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Q: Journalize the issuance of the stock

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Q: On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated…

A: It is assumed that the requirement for this question is the preparation of the journal entries.

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A: The process of recording business transactions in the books of accounts for the first time is…

Q: On September 10th, Orange Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for the…

Q: Feeney Corporation is authorized to issue 200,000 shares of $1 par value common stock and 50,000…

A: Stockholder's Equity - Stockholder's Equity is the section of the balance sheet that includes common…

Q: The Sneed Corporation issues 12,700 shares of $46 par preferred stock for cash at $63 per share. The…

A: The organization can raise funds for the operation by issuing common stock, preferred stock for…

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A: Whenever business issues common stock, then par value of the stock is credited to capital account…

Q: On July 1, Pina Colada Corp. purchases 610 shares of its $5 par value common stock for the treasury…

A:

Q: Helu Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with…

A: Share premium is the amount received on issue of shares above par value.

Q: On April 1, Kang Corporation purchased back 250 shares of $1 par value common stock for $20 per…

A: Treasury stock: When shares are purchased from the open market by the company then these shares are…

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A: Definition: Preferred stock: The stock that provides a fixed amount of return (dividend) to its…

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A: Stockholders' equity= Equity share capital + retained earnings - treasury shares  Or  All assets -…

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A: Preferred Stock Capital will be increased by = No. of shares issued x Par value per share = 36000…

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A: Journal entries means an entry that are recorded in journal of the company for business…

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A: Cash received = 10,000 x $75 = $750,000 Preferred stock = 10,000 x $50 = $500,000 Excess = 10,000 x…

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.