Business, 30.10.2021 01:00, naomicervero
On January 5, 2020, Martinez Corporation received a charter granting the right to issue 5,400 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 46,800 shares of $10 par value common stock. It then completed these transactions.
Jan. 11 Issued 19,700 shares of common stock at $16 per share.
Feb. 1 Issued to Sanchez Corp. 3,800 shares of preferred stock for the following assets: equipment with a fair value of $46,000; a factory building with a fair value of $160,000; and land with an appraised value of $247,000.
July 29 Purchased 1,700 shares of common stock at $16 per share. (Use cost method.)
Aug. 10 Sold the 1,700 treasury shares at $15 per share.
Dec. 31 Declared a $0.40 per share cash dividend on the common stock and declared the preferred dividend.
Dec. 31 Closed the Income Summary account. There was a $168,200 net income.
Required:
a. Record the journal entries for the transactions listed above.
b. Prepare the stockholders
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 16:50, mariposa91
In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase
Answers: 1
Business, 22.06.2019 21:30, jefersonzoruajas
Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.
Answers: 1
Business, 23.06.2019 01:30, fanta47
Bruce matthews played football for the tennessee titans. as part of his contract, he agreed to submit any dispute to arbitra- tion. he also agreed that tennessee law would determine all matters related to workers' compensation. after matthews retired, he filed a workers' compensation claim in california. the arbitrator ruled that matthews could pursue his claim in california but only under tennessee law. should this award be set aside?
Answers: 2
Business, 23.06.2019 01:30, caitlynpierce9866
Should i run away or get a boyfriend and be loved again
Answers: 3
Do you know the correct answer?
On January 5, 2020, Martinez Corporation received a charter granting the right to issue 5,400 shares...
Questions in other subjects:
English, 04.10.2021 18:30
Mathematics, 04.10.2021 18:30
