Question
During its first year of operations, Roldan Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 60,000 shares for cash at
- During its first year of operations, Roldan Corporation had the following transactions pertaining to its common stock.
Jan. 10 Issued 60,000 shares for cash at $5 per share.
July 1 Issued 50,000 shares for cash at $8 per share.
Instructions:
Journalize the transactions, assuming that the common stock has a par value of $5 per share.
| General Journal | ||||
| Date | Account Title & Description | Ref. | Debit | Credit |
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(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share.
| General Journal | ||||
| Date | Account Title & Description | Ref. | Debit | Credit |
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