On July 1, Sage Hill Inc. purchases 600 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. Journalize the treasury stock transaction. (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 0 for the amounts.) Account Titles and Explanation Debit Credit enter an account title   enter a debit amount   enter a credit amount   enter an account title   enter a debit amount   enter a debit amount

Q: Pronghorn Corp has 8,300 shares of common stock outstanding. It declares a $3 per share cash…

A: Cash dividend for the journal entries will be $24,900 (8300 shares * $3)

Q: Kingbird, Inc. issues 9,700 shares of $102 par value preferred stock for cash at $110 per share.…

A: Journal is the primary book where transactions are originally recorded. Further, a journal entry is…

Q: Sunland Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 800…

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Q: The declaration, record, and payment dates in connection with a cash dividend of $41,200 on a…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: On November 27, the board of directors of Marin Company declared a $0.40 per share dividend. The…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: On July 1, Marin Inc. purchases 510 shares of its $5 par value common stock for the treasury at a…

A: Treasury stock: Treasury stock is the shares that are bought back by the company itself. A company…

Q: On May 1, Splish Brothers Corporation purchased 3.200 shares of its $10 par value common stock at a…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: he declaration, record, and payment dates in connection with a cash dividend of $34,000 on a…

A: Journal entries are the entries to be recorded in the accounting books of the business for all the…

Q: On 2/1, Curly's Hair Supply purchased 11,000 shares of treasury stock at $4 per share. On 11/1,…

A: Treasury stock is stock repurchased by the issuer and intended for retirement or resale to the…

Q: Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other…

A: Number of shares outstanding = 90,000 Current market value of 1 common stock = $22 Stock dividend…

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: Dividend declared and paid: The majority of dividends are cash dividends, which are distributions…

Q: On June 1, Marin Inc. issues 3,400 shares of no-par common stock at a cash price of $9 per share.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On March 15, American Eagle declares a quarterly cash dividend of $0.075 per share payable on April…

A: The dividend is declared from the retained earnings of the business.

Q: Splish Brothers Inc. Issues 8,200 shares of $104 par value preferred stock for cash at $118 per…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On May 10, Martinez Corp. issues 1,800 shares of $4 par value common stock for cash at $15 per…

A: The details regarding transaction is given. Required  Journal Entry.

Q: The declaration, record, and payment dates in connection with a cash dividend of $47,800 on a…

A: Cash dividend refers to the amount of money  or funds distributed by the corporation to its…

Q: Windsor, Inc. issues 9,600 shares of $102 par value preferred stock for cash at $115 per…

A: Preferred stock:The stock that provides a fixed amount of return (dividend) to its stockholder…

Q: On Sept. 1, Paddington, Inc., issued 1,000 shares of $10 stated value common stock for cash of $10…

A: Introduction: A journal records all of a company's financial activities as well as the accounts that…

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: First, compute the cash dividends as shown below: Cash dividends = 6,700*$2 Cash dividends = $13,400…

Q: On June 1, Tamarisk, Inc. issues 2,900 shares of no-par common stock at a cash price of $5 per…

A: A journal entry is prepared by the company to record the non-economic & economic transactions of…

Q: On July 1, Larkspur, Inc. purchases 560 shares of its $5 par value common stock for the treasury at…

A: On July 1, Larkspur Inc.'s Purchased 560 shares of common stock for the treasury. Par value = $5 per…

Q: On February 1, 2020, Kingbird Corporation issued 3,900 shares of its $5 par value common stock for…

A: No. of shares issued = 3900 shares  per share value = $ 5 par value  Total value of common stock =…

Q: On May 15, Canadian Falcon declares a quarterly cash dividend of $0.20 per share payable on June 10…

A: The question is based on the concept of Financial Accounting.

Q: Q. question 2

A: Issued stock:Issued stock is the shares of a company that has been distributed to investors. These…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Formulas: Cash = Number of shares * issue price --------------------- Common stock = Number of…

Q: On August 1, Cullumber Company buys 1,0000 shares of Estrada common stock for $37,000 cash. On…

A: date account title and explanation Debit Credit Aug 1 Investment in Estrada 37000     Cash…

Q: Please help

A: Cash = Number of shares * Issue price = 2100 * $14 = $29,400 Common stock value = Number of shares *…

Q: The declaration, record, and payment dates in connection with a cash dividend of $195,000 on a…

A: The question is based on the concept of Financial Accounting.

Q: On February 1, Windsor Company purchased 1,300 shares (2% 8whership) March 20, Windsor Company sold…

A: The journal entries are prepared to record day to day transactions of the business on regular basis.…

Q: 1. Homework Chapter 10

A: Dividends:This is the amount of cash distributed to stockholders by a company out its earnings,…

Q: On March 15, American eagle declares a quarterly cash dividend of $0.035 per-share payable on April…

A: >Dividends are the payment made to the stockholders (common stockholders and preferred stock…

Q: Please help

A: Cash Dividends are the amount paid to the shareholders, from the earnings of the company. Basically,…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 100,000 shares of $5 par…

A: Workings: Issued 100000 shares @ 9 each = 100000 x 9 = 900000 Par value of each is 5 = 100000 x 5 =…

Q: Tamarisk, Inc. issues 9,400 shares of $106 par value preferred stock for cash at $110 per share.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per…

A: Given: No. of shares issued = 4000 Stated value per share = $1 Issue price per share $6 Amount of…

Q: The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a…

A: Please find the answer to the above question below:

Q: On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share.…

A: Cash will be = 1000*11 = 11,000 Capital = 1000*4 =4000 Excess of capital = 11,000 - 4000=7000

Q: Bonita Corporation has 86,000 shares of common stock outstanding. It declares a S2 per share cash…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The declaration, record, and payment dates in connection with a cash dividend of $79,600 on a…

A: For record date there would be no journal entry recorded as no transaction has actually taken place.…

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 73,000 shares of $10 par…

A: Introduction: Recording of a business transactions in a chronological order. First step in the…

Q: On May 1, Carla Vista Corporation purchased 2,800 shares of its $10 par value common stock at a cash…

A: A systematic way to record all the business transactions is referred to as a journal entry, this…

Q: On May 10, Skysong, Inc. issues 2,200 shares of $5 par value common stock for cash at $15 per share.…

A: We need to debit cash since it is an asset and credit common stock to extent of par value($5) and…

Q: Pronghorn Corp purchased 2,100 shares of its $10 par value common stock for $79,800 on August 1. It…

A: Definition:   Treasury stock: The shares which were reacquired or bought back by the company, but…

Q: On August 1, Shamrock Finance Inc. buys 2,500 Datawave common shares for trading purposes for…

A: Purchase of shares for trading purposes is to be accounted as per Fair value through Profit or loss…

Q: The declaration, record, and payment dates in connection with a cash dividend of $76,000 on a…

A: Date Accounts title and explanation Debit ($) Credit ($) 1-Feb Retained earnings $76,000…

Q: On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per…

A: Calculation of cash received:.  Calculation of amount common stock issued:  Calculation of amount…

Q: Oriole Corporation is authorized to issue 1.000,000 shares of $1 par value common stock. During…

A: Paid in capital in excess of par value = Cash received - Total par value of shares issued Cash…

Q: Pronghorn Inc. issues 4,700 shares of $110 par value preferred stock for cash at $135 per…

A: Account Titles and Explanation Debit Credit Cash (4700*135) $634,500              Preferred…

Q: The Vermillion Corporation has 116,60O $2.0 noncumulative preferred shares that have been issued. It…

A: Annual preferred dividend =  Number of preferred shares x Preferred dividend per share Quarterly…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.