The Hecter Corporation is authorized to issue 40,000 shares of $85 par value common stock Record the following transactions in general jour nal form Feb 10 Mar 27 Sold 7,000 shares of common stock at $86 per share received cash Issued 2,150 shares of common stock in exchange for land with a fair ma...

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The Hecter Corporation is authorized to issue 40,000 shares of $85-par-value common stock. Record the following transactions

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The Hecter Corporation is authorized to issue 40,000 shares of

$85-par-value common stock. Record the following transactions in general jour¬

nal form.

image text in transcribed

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College Accounting Chapters 1-26

ISBN: 9780395796993

6th Edition

Authors: Douglas J. McQuaig, Patricia A. Bille

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Question Posted: Jun 28, 2024 01:02 AM

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The Hecter Corporation is authorized to issue 40,000 shares of $85-par-value common stock. Record the following transactions

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Feb. 10 Mar. 27 Sold 7,000 shares of common stock at $86 per share; received cash. Issued 2,150 shares of common stock in exchange for land with a fair market value of $90,000 and building with a fair market value of $109,750. 3 Sold 2,500 shares of common stock at $87 per share; received cash.

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College Accounting Chapters 1-26

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