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1 Rodriguez Corporation issues 8,000 shares of its common stock for $143,000 cash on February 20. Prepare journal entries to record this event under each
1 Rodriguez Corporation issues 8,000 shares of its common stock for $143,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1 points 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. eBook View transaction list OP Hint Journal entry worksheet Print B > Record the issue of 8,000 shares of no-par, no-stated value common stock for $143,000 cash. References Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal 1 Rodriguez Corporation issues 8,000 shares of its common stock for $143,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1 points 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. eBook View transaction list Hint Journal entry worksheet Print Record the issue of 8,000 shares of $7 stated value common stock for $143,000 cash. References Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal 1 Rodriguez Corporation issues 8,000 shares of its common stock for $143,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. points 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. Answer is complete but not entirely correct. No Transaction Debit Credit A 1 143,000 General Journal Cash Common stock, $14 par value Paid-in capital in excess of par value, common stock ooo 112,000 31,000 B 2 Cash 143,000 Common dividend payable x 143,000 3 Cash 143,000 Common stock, $14 par value x 56,000 Paid-in capital in excess of par value, common stock X 87,000
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