Ch. 15 Homework - Chapter 15 Homework Brief Exercise 15-4 Your answer is correct Ravonette Corporation issued 375 shares of $14 par value common stock

Ch. 15 Homework - Chapter 15 Homework Brief Exercise 15-4...

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Chapter 15 Homework Brief Exercise 15-4Your answer is correct.Ravonette Corporation issued 375 shares of $14 par value common stock and 128 shares of $51 par value preferred stock for a lump sum of $17,118. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e.g., 1520.Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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Chapter 15 Homework Brief Exercise 15-8Your answer is correct.Arantxa Corporation has outstanding 20,110 shares of $5 par value common stock. On August 1, 2014, Arantxa reacquired 370 shares at $86 per share. On November 1, Arantxa reissued the 370 shares at $78 per share. Arantxa had no previous treasury stock transactions.Prepare Arantxa’s journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Brief Exercise 15-11Your answer is correct.Cole Inc. owns shares of Marlin Corporation stock classified as an available-for-sale investment. At December 31, 2014, the available-for-sale securities were carried in Cole’s accounting recordsat their cost of $886,600, which equals their fair value. On September 21, 2015, when the fair value of the securities was $1,250,300, Cole declared a property dividend whereby the Marlin securities are to be distributed on October 23, 2015 to stockholders of record on October 8, 2015.Prepare all journal entries necessary on those three dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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