Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Debit Credit Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Debit Credit
Expert Answer:
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
Students also viewed these accounting questions
-
Pronghorn Corporation began operations on April 1 by issuing 57,000 shares of $5 par value common stock for cash at $14 per share. On April 19, it issued 2,200 shares of common stock to attorneys in...
-
Use Excel to prepare in good form a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2023. (See Illustration 4-5 in the textbook...
-
Kingbird Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $90,600 Contribution to the plan 103,900 Prior service cost amortization...
-
WSU Small Business Booster Every year, Robin identifies a small business to invest her money in because she wants to support companies that WSU students have started. Robin named the program WSU...
-
Show that the electric potential difference V12 between two points in air at radial distances r1 and r2 from an infinite line of charge with density l along the z-axis is V12
-
Use the step-by-step method to find vo(t) for t > 0 in the network in figure. t = 0 4 2 +) 12 V v,(1) 203 12 v+ (+1)
-
Refer to Exercise 9. Can you reject H0 at the = 0.01 level? State a conclusion. Exercise 9 Two suppliers of machine parts delivered large shipments. A simple random sample of 150 parts was chosen...
-
The March 31, 2014, adjusted trial balance for sopik Refrigeration Repairs is shown below with accounts in alphabetical order. 1 $5,000 of the long-term note payable is due during the year ended...
-
A bakery bakes fresh muffins each day. The demand each day is random but has been estimated to be normally distributed with a mean of 350 and a standard deviation of 35.4. The muffins cost $.15 per...
-
This project will test your understanding of the Sage 50 Accounting application and your ability to apply the features of this application. You will be using many of the skills that you have acquired...
-
Find a sequence of elementary matrices whose product is the given nonsingular matrix. [13] 1 10 ob 19 0 -1 -1 0 0 [1 1899] 0 -3 -3 1 o[ 3][ ][ 0 1 0 1 -1 1 HARRI 1 1 0 1 0 - 3 10 1 -1 0 -3 1 1 0 1...
-
Which of the following statements about BPMN is not true? a. Arrows represent sequence flows. b. The BPMN specification is maintained by the Object Management Group (OMG). c. Events are modeled with...
-
Which of the following is not a purpose of using lanes to describe the conversion process? a. Document the sequence of activities in the process. b. Expose potential problems in the handoff between...
-
According to the FASB, who are the primary users of externally published financial statements? a. Investors and creditors b. Tax authorities c. Internal company managers d. Working interest owners e....
-
During 2018, Aggie Petroleum made the following transactions relating to testwell contributions: a. Contracted with Garth Energy Corporation, agreeing to pay $80,000 if a well was drilled on Garths...
-
Which of the following statements about sequence flows is not true? a. Sequence flows are continuous from the start event through activities and gateways, if any, to an end event in a pool. b....
-
The following data are pertaining to callable bonds issued by National Co. which can be called after 3 years: Current market price: P1,150 Par value: P1,250 Coupon rate: 4% Call price: P150 less...
-
(a) Given a mean free path = 0.4 nm and a mean speed vav = 1.17 105 m/s for the current flow in copper at a temperature of 300 K, calculate the classical value for the resistivity of copper. (b)...
-
On March 4, 2016, Hein Corporation issues 1,000 shares of $100 par preferred stock LO 15.6 for $125 per share. The stock is not callable by the corporation until 3 years have expired. On April 7,...
-
On January 1, 2016, Mark Corporation purchased bonds with a face value of $500,000 for $475,413.60. The bonds are due December 31, 2018, carry' a 10% stated rate, and were purchased to yield 12%....
-
Cee & Co.s fiscal year begins April 1. At the beginning of its fiscal year, Cee & Co. estimates that it will owe $17,400 in property taxes for the year. On June 1, its property' taxes are assessed at...
-
For flow over a smooth plate, what approximately is the maximum length of the laminar boundary layer if \(V_{o}=9.0 \mathrm{~m} / \mathrm{s}\) in the irrotational uniform flow and the fluid is air?...
-
A student is to design an experiment involving dragging a sphere through a tank of fluid to illustrate (a) "creeping flow" \(\left(R e_{D} <1 ight)\) (b) flow for which the boundary layer becomes...
-
We have seen many examples in Chapter 7 of replacing working fluids in order to more easily achieve similitude between models and prototypes. Describe the effects of testing an air compressor using...
Study smarter with the SolutionInn App