On January 1, 201X, Hazel Corporation issued on a subscription basis 990 shares of $49 par value common stock at $85 per share. Two equal installments were to be made on July 1 and December 31. Prepare the appropriate journal entries on January 1, July 1, and December 31 to record this stock subscription for Hazel Corporation.
Answer to relevant QuestionsMarket Corporation began its business on January 1, 201X. It sold at $31 per share 6,100 shares of no-par common stock with a stated value of $24 per share. The charter of Market indicated that 38,000 shares were authorized. ...Thompson Corporation began its business on January 1, 201X. It sold at $28 per share 6,100 shares of no-par common stock with a stated value of $20 per share. The charter of Thompson indicated 35,000 shares were authorized. ...From the following partial mixed list, select the appropriate titles and prepare a stockholders’ equity section using the source-of-capital approach as shown in the Blueprint example for Ununoctium Corporation on July 31, ...On July 31, 201X, Steven Corporation had the following stockholders’ equity: Common Stock, $14 par value, authorized 90,000 shares, 55,000 shares issued and outstanding ............... $770,000Retained Earnings ...Race Corporation has 420,000 shares of $5 par-value common stock issued and outstanding. Record the following entries into the general journal for Race:201XJuly 2 Declared a cash dividend of $0.75 per share.Aug. 1 Paid the ...
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