During its first year of operations, Sheffield Corp. had these transactions pertaining to its common stock.

Issued

$4$

$0$

$,$

$0$

$0$

$0$

$$shares for cash at $

$6$

$$per share.

Issued

$6$

$9$

$,$

$0$

$0$

$0$

$$shares for cash at $

$8$

$$per share.

Jan.

July

$1$

$0$

$1$

Date

$($

a

$)$

Journalize the transactions, assuming that the common stock has a par value of $

$6$

$$per share.

$($

Record journal entries in the order

presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is

required, select

$"$

No Entry" for the account titles and enter O for the amounts.

$)$

Account Titles and Explanation

Debit

Credit

V

VDuring its first year of operations, Sheffield Corp. had these transactions pertaining to its common stock.

Jan.

$1$

$0$

$$Issued

$4$

$0$

$,$

$0$

$0$

$0$

$$shares for cash at $

$6$

$$per share.

July

$1$

$$Issued

$6$

$9$

$,$

$0$

$0$

$0$

$$shares for cash at $

$8$

$$per share.

$($

a

$)$

Journalize the transactions, assuming that the common stock has a par value of $

$6$

$$per share.

$($

Record journal entries in the order

presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is

required, select

$"$

No Entry" for the account titles and enter

$0$

$$for the amounts.

$)$

Date

Account Titles and Explanation

Debit

Credit$($b$)$

Journalize the transactions, assuming that the common stock is no$-$par with a stated value of $$1$ per share. $($Record journal entries in

the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no

entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$