Record the transactions on page 8 of a general journal

Assignment Help Accounting Basics
Reference no: EM13114290

Question 1 

The Johnson Corporation is authorized to issue 3,000 shares of 8 percent, $50 par-value preferred stock and 10,000 shares of no-par-value common stock with a stated value of $20 per share. On December 31, 2010, 1,000 shares of preferred stock and 4,000 shares of common stock are issued and outstanding. The corporation's transactions affecting stockholders' equity during 2011 are given below.

Instructions: Record the transactions on page 8 of a general journal. You can Omit descriptions. You can use any General Journal template or the one attached.

Question 2
The following information was taken from the accounting records of the Gemini Corporation on December 31, 2010. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet in proper order and format. You can use the attached template or one of your own making.

Preferred Stock: 10%, $100 par value; 5,000 shares authorized; 1,200 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Preferred Stock, $4,000

Common Stock: $50 par value; 10,000 shares authorized; 4,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $5,000
Retained Earnings: Total, $105,000; appropriated for warehouse construction, $40,000

Reference no: EM13114290

Previous Q& A

  Illustrate what is the point elasticity at a price

What will be the total revenue at a price of $70? What will be the marginal revenue? Illustrate what is the point elasticity at a price of $70?

  What proportion of their sons is expected to be g6pd

Glucose-6-phosphate dehydrogenase deficiency (G6PD) is inherited as a recessive allele of an X-linked gene in humans. A woman whose father suffered from G6PD marries a normal man.

  Find the probability that worker earns more in car wash

Assume the wages are normally distributed with a standard deviation of $0.45. If a worker at this car wash is selected at random, what is the probability that the worker earns more than $6.75?

  Estimate thickness of the oil film ( in cm)

consider a major oil spill in a lake ( a prototype situation related to Alaska Oil Spill few years ago and many subsequent spills) Amount of oil spilled is 2.9 mega gram (Mg).

  Which blood vessels bring blood into the glomerulus

Which blood vessels bring blood into the glomerulus?

  What capillary network that surrounds renal tubules called

What is the capillary network that surrounds the renal tubules called?

  Formulate production plan and compute profit

The Water Authority informs Margaret that for a special fee of $6,000 this year, her farm will qualify for an additional allotment of 600 acre-feet of water. How should she respond?

  What expect to be true for their sons

One-fourth of their sons will be color blind and have blue eyes, 1/4 of their sons will be color blind and have brown eyes, 1/4 of their sons will have normal color vision and blue eyes, 1/4 of their sons will have normal color vision and brown ey..

  Presentation on statistical test of snack foods

List at least three qualitative attributes of the snack food about which they might want to ask consumers. Make sure at least one of them is nominal.

  What is the total force in pounds on the outside of the can

An empty gasoline can with dimensions 15 cm by 40 cm by 12.5 cm is attached to a vacuum pump and evacuated. if the atmospheric pressure is 14.7 lb/in^2.


Write a Review


Similar Q& A

  Objective questions - accounting questions

A is a fixed expense; B is a variable cost. During the current year the level of activity has reduced but is still within the relevant range.

  Evaluate the potential impact various stages of production

Evaluate the potential impact an upgrade can have on cost identification during the various stages of production an upgrade can have on cost identification during the various stages of production

  Journalize the entry for issuance of the preferred stock

Elston Company is authorized to issue 1,000,000 shares of $1 par value common stock. During 2002, its 1st year of operation the corporation has the following stock transactions:

  Determining the cost of research

Godert pharmaceutical company has many scientists working in the labs trying to develop anti-aging drug. The cost of this research and development should be.

  Determining materials price variance

Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at ..

  Introductory section of cafr

The introductory section of a CAFR typically includes all of the following except

  Financial implications-sarbanes oxley act

Discuss the financial impact of SOX and consider its effect on economic growth and enterprise.

  Fair value option of accounting

What financial instruments (financial assets and financial liabilities) are not eligible for an entity to use the fair value option of accounting?

  Find the cost of capital

The depreciation expense is related to the company's sole $60,000 asset, which is predictable to last 4 years. The cost of capital is 10%.

  Calculating productivity measures

A farmer grows two crops: lettuce and beans. The farmer uses three inputs: labor, seed and fertilizer. The past prices and the quantities of each are given in the following tables: Calculate productivity measures for last year and this year using p..

  Various approaches to setting transfer prices

What are the main approaches for setting transfer prices? How can the problems that these approaches create be reconciled between the selling and buying divisions?

  Flexible budget planning performance eval

Prepare a realistic flexible budget for next year for the McDonald's Corporation using economic and company trends. Use three different growth rates (low, average and high) for sales and adjust the expenses based on whether you assume that they v..

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