Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. entries for issuing stock on january 22, zentric

Entries for Issuing Stock On January 22, Zentric Corporation issued for cash 160,000 shares...

60.1K

Verified Solution

Question

Accounting

Entries for Issuing Stock
On January 22, Zentric Corporation issued for cash 160,000 shares of no-par common stock at $8. On February 14, Zentric issued at par value 45,000 shares of preferred 2% stock, $50 par for cash. On August 30, Zentric issued for cash 10,000 shares of preferred 2% stock, $50 par at $56.
Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.
Jan. 22
x
x
Feb. 14
x
Aug. 30
Preferred Stock
x
Paid-In Capital in Excess of Par-Preferred Stock
Feedback
Check My Work
Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation. Recall the definition of legal capital and
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

O. M. is a 6-year-old child at a freestanding emergency room. Per the mother, O.M. is...

Chemistry
1.2K views

iron nail and copper (II) sulfate the compound contains Fe2+ molecular equation ionic equation net ionic equation spectator ions

Chemistry
1.2K views

There are several classifications of chemical reactions. Please research a reaction and provide its particular classification...

Biology
1.2K views

For each statement below, indicate if it is TRUE or FALSE and explain why. (a) All highly...

Biology
1.2K views

A Construct explanations for the following questions 1 Scientist use zebrafish to understand the processes...

Physics
1.2K views

3 88 A smooth sphere of radius R is made to translate in a straight...

Geometry
1.2K views

Classify this polynomial 9p monomial binomial trinomial none of these

Basic Math
1.2K views

2 Melvin is installing a cylindrical tire in his back yard to make a fire...

Basic Math
1.2K views

O Macmillan Learning Consider the table of GDP and population for several imaginary countries Country...

Accounting
1.2K views

Cornies LLP must withdraw $49,000 at the beginning of each semiannual period for the next...

Accounting
1.2K views

The following units of a particular item were available for sale during the calendar year:...

Finance
1.2K views

1. The all equity cost of capital for Exxon Mobil is 12% and the company...