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.
Transcribed Image Text:
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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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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