Daily Corporation sold and issued 10,000 shares of its common stock for ($ 315,000) on June 8.

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Daily Corporation sold and issued 10,000 shares of its common stock for $\$ 315,000$ on June 8. Give the entry to record the sale under each of the following independent assumptions:

(a) the stock is no-par stock and the board of directors did not place a stated value on the stock;

(b) the stock is no-par stock and the board placed a $\$ 5$ per share stated value on the stock;

(c) the stock has a $\$ 10$ par value.

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Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

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Question Posted: Jun 11, 2024 12:03 AM

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Daily Corporation sold and issued 10,000 shares of its common stock for ($ 315,000) on June 8.

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Financial Accounting

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