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Aloha Corporation issues 9,000 shares of its common stock for $191,100 cash on February 20. 1. Assume the stock has neither par nor stated value.
Aloha Corporation issues 9,000 shares of its common stock for $191,100 cash on February 20. 1. Assume the stock has neither par nor stated value. Prepare journal entries to record this event. (Omit the "$" sign in your response.) Date General Journal Debit 20 Feb. Cash 191000 Credit Common stock, no-par value 191000 2. Assume the stock has a $17 par value. Prepare journal entries to record this event. (Omit the "$" sign in your response.) Date General Journal Debit Feb. 20 Cash 191000 Common stock, $17 par value Credit 153000 Contributed capital in excess of par value, common stock 38000 3. Assume the stock has an $8.5 stated value. Prepare journal entries to record this event. (Omit the "$" sign in your response.) Date General Journal Debit 20 Feb. Cash 191000 Credit Common stock, $8.5 stated value 76500 General Journal Date 20 Feb. Credit Cash Debit 191000 Common stock, no par value 191000 2. Assume the stock has a $17 par value. Prepare journal entries to record this event. (Omit the "$" sign in your response.) Date General Journal Debit 20 Feb. Cash 191000 Common stock, $17 par value Credit 153000 Contributed capital in excess of par value, common stock 38000 3. Assume the stock has an $8.5 stated value. Prepare journal entries to record this event. (Omit the "$" sign in your response.) Date General Journal Debit Feb. 20 Cash 191000 Common stock, $8.5 stated value Credit 76500 114500 Contributed capital in excess of par value, common stock
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