Prepare the journal entry to record Jevonte Company’s issuance of 43,000 shares
ID: 2420066 • Letter: P
Question
Prepare the journal entry to record Jevonte Company’s issuance of 43,000 shares of its common stock assuming the shares have a:
$2 stated value and sell for $21 cash per share.
Journal Entry Worksheet
Record the issuance of 43,000 shares of common stock assuming the shares have a $2 par value and sell for $21 cash per share.
*Enter debits before credits
Journal Entry Worksheet
Record the issuance of 43,000 shares of common stock assuming the shares have a $2 par value and sell for $21 cash per share.
*Enter debits before credits
Prepare journal entries to record the above transactions for Emerson Corporation. (If no journal entry is required, select "No journal entry required" in the first account field.)
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
*Enter debits before credits
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
*Enter debits before credits
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
*Enter debits before credits
Murray Company reports net income of $609,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 230,000 shares.
Compute its basic earnings per share. (Leave no cells blank.)
Rodriguez Corporation issues 6,000 shares of its common stock for $63,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stock for $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated value common stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stock for $63,500 cash.
*Enter debits before credits
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stock for $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated value common stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stock for $63,500 cash.
*Enter debits before credits
Journal Entry Worksheet
Record the issue of 6,000 shares of $4 par value common stock for $63,500 cash.
Record the issue of 6,000 shares of no-par, no-stated value common stock for $63,500 cash.
Record the issue of 6,000 shares of $2 stated value common stock for $63,500 cash.
*Enter debits before credits
Match each description 1 through 6 with the characteristic of preferred stock that it best describes in the dropdown next to each description.
Prepare the journal entry to record Jevonte Company’s issuance of 43,000 shares of its common stock assuming the shares have a:
a. $2 par value and sell for $21 cash per share. b.$2 stated value and sell for $21 cash per share.
Journal Entry Worksheet
Record the issuance of 43,000 shares of common stock assuming the shares have a $2 par value and sell for $21 cash per share.
Transaction General Journal Debit Credit a.*Enter debits before credits
Journal Entry Worksheet
Record the issuance of 43,000 shares of common stock assuming the shares have a $2 par value and sell for $21 cash per share.
Transaction General Journal Debit Credit b.*Enter debits before credits
July 15 Declared a cash dividend payable to common stockholders of $170,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15.
Prepare journal entries to record the above transactions for Emerson Corporation. (If no journal entry is required, select "No journal entry required" in the first account field.)
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
Date General Journal Debit Credit Jul 15*Enter debits before credits
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
Date General Journal Debit Credit Aug 15*Enter debits before credits
Journal Entry Worksheet
Record the declaration of a cash dividend payable to common stockholders.
Record the date of record for the cash dividend.
Record the payment of cash dividend.
Date General Journal Debit Credit Aug 31*Enter debits before credits
Murray Company reports net income of $609,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 230,000 shares.
Compute its basic earnings per share. (Leave no cells blank.)
Basic Earnings Per Share Choose Numerator: / Choose Denominator: = Basic EPS – / = Basic EPS – / = per shareExplanation / Answer
Date Particulars amount debit amont credit debit cash 903000 credit share capital 86000 credit additional paid in capital 817000 shares issued 15-Jul debit retained earnings 170000 credit dividend payable 170000 15-Aug No journal entry on record date 31-Aug debit dividend payable 170000 credit cash 170000 EPS of the Murray company Earning per share earning/ shares outstanding 2.65 journal entries for Rodriguez Corporation 1 debit cash 63500 credit share capital 24000 credit additional share capital 39500 2 cash debit 63500 share capital 63500 3 debit cash 63500 credit share capital 51500 credit additional paid incapital 12000 1 yes 2 no 3 yes 4 TRUE 5 FALSE 6 TRUE