St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000

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St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000 shares of $1 stated value common stock. During the year, the company has the following transactions:

Journalize the transactions.

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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 06:51 AM

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St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000

Question:

Jan. 31 Jun. 10 Aug. 3 Issued 140,000 common shares at $10 share Issued 160,000 preferred shares in exchange for land with a clearly determined value of $850,000 Issued 10,000 shares of common stock for $9 per share

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Principles Of Accounting Volume 1 Financial Accounting

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