Lebron Corporation was authorized to issue 30,000 shares of common stock. Record the journal entry for each

Question:

Lebron Corporation was authorized to issue 30,000 shares of common stock. Record the journal entry for each of the following independent situations, assuming Lebron issues 5,800 shares at $12 on July 20, 202X:

a. Common stock has an $11 par value.
b. Common stock has no par and no stated value.
c. Common stock is no-par stock with a stated value of $3.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting A Practical Approach Chapters 1-25

ISBN: 9780137504282

15th Edition

Authors: Jeffrey Slater, Mike Deschamps

See More Books

Question Posted: Mar 05, 2023 06:53 AM

See More Questions

An advertising panel of mass AM (shown in figure below), length 2a and width 26 (having negligible thickness) is kept rotating at a constant rate w about its horizontal axis by a small electric motor...
Record the journal entry for each of the following transactions. Glow Industries purchases 750 strobe lights at $23 per light from a manufacturer on April 20. The terms of purchase are 10/15, n/40,...
On January 1, 2020, FGG Corporation was authorized to issue 50,000 ordinary shares at a par value of P100 pershare. The shares were offered to the public at a subscription price of P125. A...
Incorporated in 1990, Raju Diary Ltd is one of the leading manufacturers and marketers of diary-based branded foods in India. In the initial years, its operations were restricted only to the...
Oxnard Petro, Ltd., has three interdisciplinary project development teams that function on an ongoing basis. Team members rotate from time to time. Every 4 months (three times a year) each department...
The bookkeeper of Triad Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a payroll register on August 8. Assume the following:...
In a differential pulley block, the diameter of the smaller pulley is 9/10 th of the larger pulley. Find the load lifted by the block with an effort of 200 N if the efficiency is 45%.
On June 30, the end of the first month of operations, Volker Energy Company prepared the following income statement, based on the absorption costing concept: If the fixed manufacturing costs were...
Northwest Company produces two types of glass shelving: rounded edge and squared edge. The company reports the following cost data. Rounded Edge Direct materials Direct labor Overhead (using...
Toledo Custom Manufacturing (TCM) makes machined steel parts to customer specification. They have a variety of machines that can hold tight tolerances. In this case they have just received an order...
Pick a company of your choice, go to its Annual Report for 2020, and determine the par value of its common stock.
Lue Corporation was authorized to issue 30,000 shares of common stock. Record the journal entry for each of the following independent situations, assuming Lue issues 7,000 shares at $12 on July 20,...
Which of the following is not part of project human resource management? a. resource estimating b. acquiring the project team c. developing the project team d. managing the project team
pick one of Deming's 14 points that strikes you as different than "normal management" as you have experienced it. How and why is it different? If an organization actually implemented this approach,...
1. The following information is the unadjusted accounts' balances for SNF Sdn. Bhd. as at 31 January 2021: Accounts Cash Trade debtors Office supplies Prepaid utilities Prepaid insurance Office...
The change effort proposed for the Cuyahoga County Clerk of Courts is implementing a paperless filing system. Describes how failing to implement this needed change could or will impact the...
The recording of operations (and includes the entries of regularization and closing), the preparation of the financial statements and performance analysis using ratios Carole and Alain Plante start...
An ATV has an average acceleration of 1.9 m/s 2 . If the vehicle accelerates for 5.8 s and has an initial velocity of 15 m/s [E], what is the final velocity of the ATV?
Repeat Exercise 13, assuming instead that the third derivative of f is bounded on [1, 5] by 4. In Exercise 13 4 f (x) 2.4142 2.6734 2.8974 3.09763.2804
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
Update the trial balance for Lancing Landscaping Service (Figure) for March 31, 201X. Adjustment Data to Update the Trial Balance a. Rent expired, $350. b. Landscaping supplies on hand (remaining),...
Update the trial balance for Kylers Moving Co. (Figure) for January 31, 201X. Adjustment Data to Update Trial Balance a. Insurance expired, $550. b. Moving supplies on hand, $700. c. Depreciation on...
The trial balance for Daniels Repair Service appears in Figure. Adjustment Data to Update Trial Balance a. Insurance expired, $450. b. Repair supplies on hand, $2,300. c. Depreciation on repair...
How do multifunctional teams, characterized by their diverse amalgamation of specialized expertise and skill sets, navigate the complexities inherent in their collaborative endeavors, particularly...
Consider the following linear system: 2x-y=f cx + dy = g a. For what values of and g will the linear system be necessarily consistent, regardless of the values of c and d? Explain. b. What must be...
Solve the following equation for x: 10 5 1 1= ==== 2x 4x

Lebron Corporation was authorized to issue 30,000 shares of common stock. Record the journal entry for each

Question:

Step by Step Answer:

a Jul 20 b Jul 20 c Jul 20 Cash Common Stock Paidin ...View the full answer

College Accounting A Practical Approach Chapters 1-25

Students also viewed these Business questions