Question
During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued75,000shares for cash at $7per share.
During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock.
| Jan. | 10 | Issued75,000shares for cash at $7per share. |
| July | 1 | Issued35,000shares for cash at $9per share. |
Journalize the transactions, assuming that the common stock has a par value of $7per share.
Journalize the transactions, assuming that the common stock is no-par with a stated value of $1per share.
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Managerial Accounting
Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta
7th edition
1260482936, 978-1260482935
