1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
anzhelika [568]
3 years ago
11

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34,

and on February 27, it issued for cash 15,000 shares of preferred stock, $9 par at $12.
Required:
Journalize the entries for January 22 and February 27.
Business
1 answer:
adoni [48]3 years ago
7 0

Answer:

Jan. 22

Dr Cash $7,140,000

Cr Common Stock $6,300,000

Cr Paid in capital in excess of par $840,000

Feb. 27

Dr Cash $180,000

Cr Preferred Stock $135,000

Cr Paid-In Capital in Excess of Par-Preferred $45,000

Explanation:

Preparation of the entries for January 22 and February 27.

Jan. 22

Dr Cash $7,140,000

(210,000*$34)

Cr Common Stock $6,300,000

(210,000*$30)

Cr Paid in capital in excess of par $840,000

($7,140,000-$6,300,000)

Feb. 27

Dr Cash $180,000

(15,000*$12)

Cr Preferred Stock $135,000

(15,000*$9)

Cr Paid-In Capital in Excess of Par-Preferred $45,000

($180,000-$135,000)

You might be interested in
The common stock of the C.A.L.L. Corporation has been trading in a narrow range around $95 per share for months, and you believe
miv72 [106K]

Answer:

The price of 3 months call option on stock is 8.03.

Explanation:

Acording to the details we have the following:

P = Price of 3-months put option is $6

So = Current price is $95

X = Exrecise price is $95

r = Risk free interest rate is 9%

T = Time is 3 months=1/4

C=Price of call option?

Hence, to calculate what must be the price of a 3-month call option on C.A.L.L. stock at an exercise price of $95 if it is at the money, we have to use the formula from put-call parity.

C=P+So-<u>     X    </u>

                (1+r)∧T

C=$6+$95-  ( <u>$95      )</u>

                     (1+0.09)∧1/4

C=$6+$95-$92.97

C=8.03

The price of 3 months call option on stock is 8.03

5 0
3 years ago
Jay-cee corporation had 20,000 shares of $4 par value common stock outstanding on january 1. on january 20, the company purchase
Tatiana [17]
19000 x 5 = $95,000 total to common
3 0
3 years ago
Career Explorations Course Question!!!
Liono4ka [1.6K]

Answer: D

Explanation: he wants to learn so its D

7 0
2 years ago
Two characteristics of sociological minorities are _____ and _____.
inysia [295]
The answer is D.  Physical or cultural difference; subordination.
5 0
3 years ago
On July 1, 2019, Ted, age 73 and single, sells his personal residence of the last 30 years for $368,000. Ted’s basis in his resi
olga_2 [115]

Answer:

Realized gain is $297,144

Recognized gain is $47,144

Adjusted basis for new residence is $175,000

Explanation:

•Ted's Realized gain:

Sales price $368,000 - basis $48,776 - expenses $22,080 = $297,144.

• Ted's Recognized gain:

Realized gain $297,144 - exclusion upto $250,000 = $47,144.

• Ted's basis of the new residence is its cost of $175,000.

7 0
3 years ago
Other questions:
  • Based on predicted production of 17,000 units, a company anticipates $255,000 of fixed costs and $216,750 of variable costs. The
    15·1 answer
  • Wind Turbines and solar panels are examples of? Conversation technologies. Advanced technologies green technologies smart techno
    9·1 answer
  • A large generational divide involves the use of technology. people over 65 are less likely to use technology than younger indivi
    12·1 answer
  • Sunk costs are important for optimal decision making. are costs that have already been paid and cannot be recaptured in any sign
    6·1 answer
  • Which font attribute would be most appropriate to make a papers heading stand out?
    11·1 answer
  • Suppose that the government is currently in a recession and elected officials have reached a conclusion that fiscal stimulus is
    6·1 answer
  • Which of the following is NOT an example of advertising media?
    8·1 answer
  • The Dabble Corporation wants to begin exporting its products. The company needs advice about how to get started, as well as trad
    10·1 answer
  • Partners X, Y and Z have capital balances of $80, 000, $180,000 and $60,000 respectively. Immediately prior to liquidation. Tota
    10·1 answer
  • A large office supply company sells many of its consumer products over the Internet. This is
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!