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Exercise 1: Issuance of shares (Lump sum) On August 4, 20x1, Caribbean Produce issued two types of equity shares: 4,000 shares of common stock with
Exercise 1: Issuance of shares (Lump sum) On August 4, 20x1, Caribbean Produce issued two types of equity shares: 4,000 shares of common stock with a par value of $5 and a market value of $55 and 850 preferred shares with a par value of $30 and a market value of $60. In exchange he received the amount of $250,000. Instructions: Prepare the registry entry for the share issue, considering that values in the stock market have been established objective. 2. Prepare the log entry, again assuming that the value in common stock market is $35 and the market value is unknown. preferred stock market.
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