Question: In 2 0 2 5 , Splish Inc. issued 1 , 2 0 0 shares of $ 1 0 par share value common stock for

In 2025, Splish Inc. issued 1,200 shares of $10 par share value common stock for land worth $43,500. Indicate the effect the transaction has on cash.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

In 2017, Pharoah Inc. issued 1, 200 shares of $10 par value common stock for land worth $41,000. Prepare Pharoah's journal entry to record the transaction. (Credit account titles are automatically...

Q:

on febuary 1 ,2025 splish corperation issued 2,100 shares of its $5 par value common stock for land worth 22,700 prepare the feb 1 2025 journal enrtry

Q:

please help 2 Question 1 Garfield Inc is a large public merchandising company following IFRS and has a Dec 31st year end. The company began operations in 1988 and has been successful ever since. The...

Q:

D. Duck Company was authorized to issue 100,000 shares of $6-par value common stock and 80,000 shares of $90-par value preferred stock. Give the general journal entry required in the attached...

Q:

im sending pic search/tayyab.mirza %40tbil.edu?projector 1 Edton.pdf Problems My Accountinglab Set A 18A-1. The following is the Paid-In Capital section of stockholders' equity for the Gracie...

Q:

of $20 per share. The charter of Thompson J,000. authorized. Retained earnings were $64,000 on December 31. Prepare the stockholders' equity section for Thompson on December 31, 201x. My...

Q:

PREPARE THE FOLLOWING PAYCHECK ENTRIES: A. Related to the Issuance of Shares: 1. On May 12, Del Rio Inc. issued for cash 10,000 common shares with par value of $20.00 to $23.00. 2. On May 12, Del Rio...

Q:

Uper w Google Docs Set A 18A-1. The following is the Paid-In Capital section of stockholders' equity for the Gracie Corporation on June 1, 2018: L01,2 (50 MIN) Paid-In Capital: Preferred Stock, $98...

Q:

Sierra Systems completed the following stock issuance? transactions: LOADING...Requirements 1. Journalize the transactions. Explanations are not required. 2. How much? paid-in capital did these...

Q:

Assets Current assets Cash and cash equivalents Short-term investments Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net...

Q:

Optico manufactures telecommunication equipment. The company has 3 factories and serves 6 markets. Operations management team of the company is assigned to study the network and identify the plants...

Q:

Imagine you have a friend who has created a new board game. A prototyping lab in the College of Engineering where your friend goes to college made him a prototype of the game, which he took to a...

Q:

Which of these potential employers is most likely to implement a simplified employee pension ( SEP ) plan? A ) A nonprofit organization B ) A small, closely held business C ) A large, publicly held...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...