Question: Please help me with this question thanks Alliance Corp. issues 2,160 shares of $12 par value common stock at $16 per share. When the transaction

Please help me with this question thanks

Alliance Corp. issues 2,160 shares of $12 par value common stock at $16 per share. When the transaction is recorded, what credit entry or entries are made Select the correct answer. Common Stock $34,560 Comenon Stock 58,640 and Retained Earings $25,920 Common Stock $25,920 and Paid-in Capital in Excess of Stated Value $8,640, Common Stock $25,920 and Paid-in Cupital in Excess of Pur Value $8,640

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!

Denise Lopez, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic...

On May 10, Whispering Winds Corp. issues 2, 600 shares of $4 par value common stock for cash at $12 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented...

ID: D 10. Alma Corp, issues 1 1,000 shares of S10 par value common stock at $16 per share. When the transaction is recorded, credits are made to: a. Common Stock $16,000. Common Stock $10,000 and...

Hi! I have completed the exam, but am looking for someone to provide the answer key! Name: PENN ID: _________________________ ACCOUNTING 101 - 620, EXAM #1 Spring Semester, 2010 Instructions: 1. 2....

Hi! I need help for this assignment, please let me know if WEEK 6 WILEYCPA Ownership of 51% of the outstanding voting stock of a company would usually result in The use of the cost method. The use of...

Hello found this exam on here, however there is no answer on it. 1). I would like all answers. 2). on a WORD DOCUMENT, please show every step for each problem. I would like to get a full...

1 hr time limit urgent Assignments: CONCEPTUAL FRAI X Assignments: CONCEPTUAL FRAN X Question 11 - Acctg for Corpo. -| X Homework Help - Q&A from Onl X + X C D A...

8 Accounting problems, simple Accounting 101 problems 5/13/2016 Chapter 11 Exercises Katie Byrd Acct 211: ACCT 211 - Spring D 2016 24 Chapter 11 Exercises 1. instructions | help value: 1.25 points...

1 1. For small stock dividends, by what amount are retained earnings reduced? Answer A. Par value of the stock B. Par value of the dividend C. Book value of the dividend D. Market value of the...

Question 1 1. For small stock dividends, by what amount are retained earnings reduced? Answer A. Par value of the stock B. Par value of the dividend C. Book value of the dividend D. Market value of...

10 Homework - Due 5/10 Browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/ac Saved Help Sa 23:46 ok Exercise 10-9A Record common stock, treasury stock, and cash dividends...

A loan of $4000 at 7.5% compounded monthly requires three payments of $1000 at 6, 12, and 18 months after the date of the loan, and a final payment of the full balance after two years. What is the...

In the problem described above, determine the entropy generated during the process if the volume of the tank is 2 m3.

PCOAB stands for which of the following? Public Company Accounting Oversight Board Public Company Auditing Oversight Board Public Chartered Accounting Oversight Board Private Company Accounting...

Non constant Dividends Spears, Inc., has an odd dividend policy. The company has just paid a dividend of Si per share and has announced that it will increase the dividend by $4 per share for each of...

Two-Stage Dividend Growth Model Formula 51 Corp. just paid a dividend of $1.45 per share. The dividends are expected to grow at 30 percent for the next eight years and then level off to a 7 percent...

Bond Prices Cutler Co. issued 11-year bonds a year ago at a coupon rate of 7.8 percent. The bonds make semiannual payments. If the YTM on these bonds is 8.6 percent, what is the current bond price?

Stock Valuation Listen Close Co. is expected to maintain a constant 6.5 percent growth rate in its dividends indefinitely. If the company has a dividend yield of 3.6 percent, what is the required...

Coupon Rates Hawk Enterprises has bonds on the market making annual payments, with 16 years to maturity, and selling for $870. At this price, the bonds yield 7.5 percent. What must the V coupon rate...

Vendor analysis has the greatest potential for savings for items which have. Select the correct response. low annual cost - volume high annual cost - volume. high annual usage. low cost per unit high...

Conduct an HRIS needs analysis for the company. Interpret your results. Jennifer had been considering the benefits ofimplement-ing new technologies and systems into the organization to record and...

What other personnel management matters (e.g., application forms, job descriptions, training manu-als, etc.) haveto bereviewed to put Carter Cleaning Centres into compliance with equal rights laws?...

WasJack Carter accurate in his claim? Was Carter Cleaning Centres exempt from discrimination claims becausethey already employ minority workers? Oneof the first problems Jennifer noticed...