Question
During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. 10Issued 70,000 shares for cash at $5
During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock.
Jan. 10Issued 70,000 shares for cash at $5 per share.July1Issued 40,000 shares for cash at $7 per share.Instructions;
(a) Journalize the transactions, assuming that the common stock has a par value of $5 per share.
(a) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.
Journalize issuance of common stock.
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Entrepreneurship
Authors: Andrew Zacharakis, William D Bygrave
5th Edition
1119563097, 9781119563099
