Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on lanuary 1, 2020, all-seasons inc issued 25,000

On lanuary 1, 2020, All-Seasons inc issued 25,000 common shares with a par value of...

90.2K

Verified Solution

Question

Accounting

image
On lanuary 1, 2020, All-Seasons inc issued 25,000 common shares with a par value of S4.50 per share for cash. Tree menths later, Le. on April L, the company received furn iture worth $15,000 and equipmeat of $32,000 in exchange of 5,040 common shares. The compary alio isued 8,000,$275 cumulative preferred shares for $12 per share on Moy 10, 2020. Requed 1 Record the joumal entries for iswance of ghares in 2020. 2 Assuming that Al-Seasons in, declared a total dividend of \$60.000 on October 31, 2020 [to be pid cn December 31, 2020), record the joumal entries for dividend declarztion and pyiment. 3 Assume that All-Seasens Inc. did not declare any dividend in 2020 and 2021 ; record the journal entries if a dividend of $100,000 was declared on September 1, 2022 and paid on December 31 of 2022

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

Q

Write a short research proposal on the below topic Research Topic: Impact of Leadership Style on Employee performance . 1....

Operations Management
Q

The quantum levels of atoms of hydrogen and deuterium are only approximately the sam The...

Physics
Q

Which similary postulate or the C AABD ACDE by SS AABC ACDE by SA They...

Geometry
Q

10 Represent f x 2x as a power series What is its radius of convergence...

Algebra
Q

Consultex, Inc., was founded in 2015 as a small financial consulting business. The...

Accounting
Q

can someone explain how they did all of (B) inunderstand (A) part but not (B)....

Accounting
Q

On December 1, 2015 Irene turned 71 years old. She is still working for her...

Accounting
Q

13.- Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000...

Accounting
Q

Flounder Corp. was organized on January 1, 2017. It is authorized to issue 21,500 shares...

Accounting
Q

PS following Apr. S Purchased golf discs, bags, and other inventory on account from on...

Accounting
Q

Carla Vista Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding...

Accounting
Q

The following information was taken from the segmented income statement of Restin, Inc., and the...

Accounting