Question
A company is authorized to issue 800,000 shares of $6 par value common stock. Prepare journal entries to record the following selected transactions that occurred
A company is authorized to issue 800,000 shares of $6 par value common stock. Prepare journal entries to record the following selected transactions that occurred during the company's first year of operations: (3 Points)
| March. 8 | Sold 110,000 shares of common stock for $9 cash per share. |
| March 12 | Exchanged 12,000 shares of common stock for equipment with a market value of $90,000. |
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Management Control Systems
Authors: Frank G.H. Hartmann Professor, Kalle Kraus, Göran Nilsson, Robert N. Anthony, Vijay Govindarajan
2nd Edition
1526848317, 978-1526848314
