Prepare journal entry for autumn company

Assignment Help Accounting Basics
Reference no: EM1358413

Prepare the journal entry to record Autumn Company's issuance of 63,000 share of no-par value common stock assuming the shares;

a. Sell for 29 cash per shares

b. Are exchanged for land valued at 1,827,000

Reference no: EM1358413

Questions Cloud

Attention deficit hyperactive disorder : Attention Deficit Hyperactive Disorder and Conduct Disorder are behavior disorders that affect children's lives both socially and cognitively since they have difficulty understanding social rules.
Allocating partnership income : During its first year, the firm earned 249,000. Prepare the entry to close the firms income summary accounts as of its December 31 year end and to allocate the 249,000 net income to partners under each of the following separate assumptions:
Elucidiating effect of demographics on public revenue : explaining the effect of demographics on public revenue sources.
Create logic for program to count readers by genders : Create the logic for a program that would produce a count of readers by gender within age group - that is, under 20 females, under 20 males, etc.
Prepare journal entry for autumn company : Prepare the journal entry to record Autumn Company's issuance of 63,000 share of no-par value common stock assuming the shares;
Development of social skills : What reasons do you think Marcia would give you when asked why she dropped out of school or left her parent's?? home? How does having a behavior disorder relate to the development of social skills?
Recording journal entry for issuance of stock : Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for
Describe foreign corrupt practices act : Describe Parts I and II of the Foreign Corrupt Practices Act. What is the impact of this act on companies and public accountants? Explain.
Relative importance of genetics : What is the relative importance of genetics, diet, and family environment? Etc. Just a tip of the iceberg is seen by going to a website as benign as Web MD:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Diluted eps and securities

Sabonis Corporation reported net income of $400,000 in 2008 and had 50,000 shares of common stock outstanding throughout the year.

  Journal entries of accounts and notes payable

Prepare the journal entries necessary to record the transactions above using the appropriate dates. Prepare the adjusting entries necessary at Dec. 31, 2007 in order to properly report interest expense related to the above transactions. Assume stra..

  Determining cash basis and accrual basis of accounting

Explain the difference between the cash basis and accrual basis of accounting. Explain the difference between the cash basis and accrual basis of accounting?

  Tests of transactions-transactions of balance sheet

Include tests of transactions after the balance sheet date as well as tests of transactions during the year under audit. Show

  Provide and explain missing closing entry

Retained earnings at 1/1/06 was $150,000 and at 12/31/06 it was $200,000. During 2006, cash dividends of $50,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings.

  Preparation of classified balance sheet using given data

Preparation of classified balance sheet using given data, From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

  Explain the concept of “business ethics”

Explain the concept of “business ethics”. Critically discuss the term “complex ethical dilemma”. Reviewing the real life situations mentioned in the document Complete Guide to Ethics Management:

  Manufacturing and customer cost hierarchy

Use a selected company or your current work environment to identify at least one cost or expense that would fit under each of the following categories:

  Creating a perception of detection

Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?

  Alternative ways of recording sales tax

In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. Prepare the entries to record the sales transactions and related taxes for (a) Grainger Company and (b) Darby Company.

  Determination of taxable income

Brown Corporation, an accrual basis corporation, has taxable income of $150,000 in the current year. Included in its determination of taxable income are the following transactions.

  Steps for the accounting cycle

What are the eight steps in the accounting cycle and how do they affect the financial statements? What happens if one is missing?

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