Explain how to prepare the general journal entry

Assignment Help Accounting Basics
Reference no: EM132385803

On January 2, 2016, Alpha Corporation issued

1,500 shares of $6 par value common stock.

The issue price was $15 per share.

On January 15, Alpha Corporation issued 1,100 shares of its $100 par 5% cumulative preferred stock for $105 per share.

Explain how to prepare the General Journal entry for the January 2 and January 15 entries.

Reference no: EM132385803

Questions Cloud

Calculate sherrys net income from the vacation home : Calculate Sherrys net income (or loss) from the vacation home for this tax year. Base allocation on number months, rather than days
What is the present value of this note : On January 1, 2018, Desert Co. sold goods to Jungle Company. In exchange, Jungle signed a zero-interest-bearing note requiring payment of $200,000.
Calculate the equivalent units and costs per equivalent : Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department.
Role for the accounting profession in analytics : explain in detail why there be a greater role for the accounting profession in analytics and less on cost control as part of performance optimisation
Explain how to prepare the general journal entry : Explain how to prepare the General Journal entry for the January 2 and January 15 entries - On January 15, Alpha Corporation issued 1,100 shares of its $100 par
Calculate the number of tons completed and transferred : How would your answer in requirement 2 change if the percentage of completion in ending inventory were as follows: direct materials 30%, conversion 40%?
Confidence interval for the population mean time : The lower limit of a 99% confidence interval for the population mean time (in minutes) spent with a patient is estimated to be
Determine the total dollar amount of dividends : Towson Corp., had 3,000 shares of $100 par, 5% cumulative preferred stock as of January 1, 2018. No additional shares of preferred stock were issued.
What is the best type of business that is best suited : What are the advantages and disadvantages of a sole proprietorship, LLC, and corporation? What is the best type of business that is best suited.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd