Journal Entries for Stock Transactions

Front

Charise Corp purchased 20,000 shares of their $10 par value stock for $25 per share. What journal entries did Charise Corp accountants prepare to reflect the purchase?

Back

Debit Treasury Stock $500,000; Credit Cash $500,000.

Front

On May 10, Santos Wine issues 8,000 shares of $20 par value preferred stock for cash at $25 per share. Record the stock issuance.

Back

Debit Cash $200,000; Credit Preferred Stock $160,000; Credit Additional Paid-in Capital $40,000

Front

On December 15, the directors of Sales General declare a $1.50 per share cash dividend on 100,000 shares of $10 par value common stock to be paid on Jan 15 of the next year. Prepare the entry to record the declaration.

Back

Debit Cash Dividends $150,000; Credit Dividends Payable $150,000.

Front

Brand, Inc. issued 400 shares of $45 par preferred stock at $50. How much cash was received?

Back

$20,000

Front

Scientific has 1,000 shares of 5%, $100 par value cumulative preferred stock. Dividends are 1 year in arrears. The company issued $25,000 in dividends. How much dividends did the preferred shareholders receive?

Back

$10,000