Question
Exercise 15-1 During its first year of operations, Blue Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 81,300 shares for
Exercise 15-1 During its first year of operations, Blue Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 81,300 shares for cash at $6 per share. Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for $35,800 for services rendered in helping the company to incorporate. July 1 Issued 33,600 shares for cash at $8 per share. Sept. 1 Issued 63,100 shares for cash at $10 per share. (a) Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (b) Prepare the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per share. (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 (a) (b) Click if you would like to Show Work for this question: Open Show Work
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