Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first

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Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions:

Journalize the transactions and calculate how many shares of stock are outstanding at August 3.

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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Question Posted: Aug 16, 2022 07:38 AM

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Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first

Question:

Jan. 31 Jun. 10 Aug. 3 Issued 40,000 shares at $10 share Issued 100,000 shares in exchange for land with a clearly determined value of $850,000 Purchased 10,000 shares of treasury stock at $9 per share

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Principles Of Accounting Volume 1 Financial Accounting

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