To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par...
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To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-8. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-8. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B
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Req 1A Account Amount Direction Cash 65000 Increase ... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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