Stock issuance (Learning Objective 3) 510 min. In its first year of operations, Cedar Corporation had the

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Stock issuance (Learning Objective 3) 5–10 min.

In its first year of operations, Cedar Corporation had the following stock transactions.

Journalize them.

a. Issued 5,000 shares of $100 par preferred stock at $107 for cash.

b. Issued 8,000 share of common stock with a par value of $10 for $120,000.

c. Issued 100,000 shares of stock for land, which had a fair market value of $900,000.

The stock is currently selling at $8.25 per share.

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Financial Accounting

ISBN: 9781292019543

3rd Global Edition Edition

Authors: Robert Kemp, Jeffrey Waybright, Pearson Education

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Question Posted: Sep 19, 2024 04:02 AM

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Stock issuance (Learning Objective 3) 510 min. In its first year of operations, Cedar Corporation had the

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Financial Accounting

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