How much common stock is in excess of stated value?
Common Stock (5,000 x $4 par value) 20,000 Paid-in capital in Excess in Excess of stated value 10,000 Purchased 1,000 additional shares of common treasury stock at $7 per share (debit)Treasury Stock-Common (1,000 x $7) 7,000 Cash 7,000
How much is a $10 par value common stock?
A corporation issued 5,000 shares of $10 par value common stock for $60,000 cash. 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,000. The stock has a $2 per share stated value.
What is the value of a corportation's stock?
A corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has stated no value.
How many shares of common stock did basic manufacturing issue?
Terms in this set (38) Basic Manufacturing issued 200,000 shares of $4 par common stock at $4.50 per share. What is the journal entry to record this transaction?
What is a shareholder in a corporation?
Shareholders are authorized to sign contracts or make business commitments on behalf of the corporation. Corporations pay income tax on corporate earnings, and shareholders pay income tax on the dividends received. Shares of stock cannot be readily purchased and sold by investors on an organized stock exchange.
What is the preemptive right of a stockholder?
Stockholders have preemptive right to maintain their proportionate ownership in the corporation. Stockholders receive additional shares of stock when cash dividends are paid. On March 1st, Jones Corporation purchased 1,000 shares of previously issued common stock, paying $2 per share.
Do stockholders receive dividends?
Stockholders receive additional shares of stock when cash dividends are paid. Stockholders' receive proportionate part of any dividend that is declared and paid. Stockholders receive their proportionate share of any assets remaining after debts are paid.