Question
E13-4 Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par
E13-4 Osage Corporation issued 2,000 shares of stock. Instructions
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a par value of $5 per share and was issued for a total of $52,000.
(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.
(c) The stock had no par or stated value and was issued for a total of $52,000.
(d) The stock had a par value of $5 per share and was issued to attorneys for services
during incorporation valued at $52,000.
(e) The stock had a par value of $5 per share and was issued for land worth $52,000.
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
9781266566899
