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- Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Journalize the transactions and calculate how many shares of stock are outstanding at August 3.Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 700 shares of common stock for $34 per share. April 1 Issues 110 additional shares of common stock for $38 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1. Record the issuance of 700 shares of common stock for $34 per share. Note: Enter debits before credits. Date General Journal Debit Credit January 01Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity. January 1 Issues 700 shares of common stock for $50 per share. April 1 Issues 110 additional shares of common stock for $54 per share. Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
- Required information [The following information applies to the questions displayed below.) Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 600 shares of common stock for $40 per share. April 1 Issues 188 additional shares of common stock for $44 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the issuance of 600 shares of common stock for $40 per share. Note: Enter debits before credits. Date January 01 Record entry General Journal Clear entry Debit Credit View general journalClothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity.January 1 Issues 700 shares of common stock for $50 per share.April 1 Issues 110 additional shares of common stock for $54 per share.Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock.2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 statedvalue common stock.Required information [The following information applies to the questions displayed below.] Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. L January 1 Issues 600 shares of common stock for $35 per share.. April 1 Issues 100 additional shares of common stock for $39 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list No 1 2 Date January 01 April 01 1 View journal entry worksheet Cash 2 Date January 01 Common Stock Cash January 1 Issues 600 shares of common stock for $35 per share. April 1 Issues 100 additional shares of common stock for $39 per share.. Record entry General Journal Common Stock Record the issuance of 600 shares Note: Enter debits before credits. Required information [The following…
- On April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 62 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company has 109,000 shares of stock outstanding. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet > Record the appropriate journal entry on April 15 related to the cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit April 15 Record entry Clear entry View general journalEquinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $31 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)Western Wear Clothing issues 1,000 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $13 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the issuance of common stock. Note: Enter debits before credits. Debit Credit Transaction 1 View general journal Record entry General Journal Clear entry
- Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)On November 27, the board of directors of Skysong Company declared a $0.50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Skysong has 26,000 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit CreditWestern Wear Clothing issues 1,300 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $13 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the issuance of common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit 1