BelowaretwotransactionsforNavahoCo. 1.OnJune1,NavahoCo.issued2,000sharesof$5parcommonstockfor$16pershare. 2.OnJune15,NavahoCo.issued1,200sharesof$5parpreferredstocktoacquireabuilding.Thestockisnot widelytraded,andthecurrentmarketvalueofthestockisnotevident.Thebuildinghasrecentlybeenappraisedbyan independentfirmashavingamarketvalueof$15,000. REQUIRED:Foreachofthesetransactions,recordthejournalentrythatNavahoCompanywouldmake.

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BelowaretwotransactionsforNavahoCo.

1.OnJune1,NavahoCo.issued2,000sharesof$5parcommonstockfor$16pershare.

2.OnJune15,NavahoCo.issued1,200sharesof$5parpreferredstocktoacquireabuilding.Thestockisnot widelytraded,andthecurrentmarketvalueofthestockisnotevident.Thebuildinghasrecentlybeenappraisedbyan independentfirmashavingamarketvalueof$15,000.

REQUIRED:Foreachofthesetransactions,recordthejournalentrythatNavahoCompanywouldmake.

Posted Date: Jun 20, 2024 02:18 AM

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