Exercise 15 1 During its first year of operations, Marin Corporation had the following transactions pertaining to its common stock Jan 10 Issued 80,300 shares for cash at $7 per share Mar 1 Issued 5,000 shares to attorneys in payment of a bill for $37,200 for services rendered in helping the company to incorporate July 1 Issued 31,300 shares for cash at $9 per share Sept 1 Issued 64,600 shares for cash at $11 per share (a) Prepare the journal entries for these transactions, assuming that the common stock has a par value of $4 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 ) (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

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Exercise 15-1 During its first year of operations, Marin Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 80,300 shares for

Exercise 15-1

During its first year of operations, Marin Corporation had the following transactions pertaining to its common stock.

Jan. 10		Issued 80,300 shares for cash at $7 per share.
Mar. 1		Issued 5,000 shares to attorneys in payment of a bill for $37,200 for services rendered in helping the company to incorporate.
July 1		Issued 31,300 shares for cash at $9 per share.
Sept. 1		Issued 64,600 shares for cash at $11 per share.

(a)		Prepare the journal entries for these transactions, assuming that the common stock has a par value of $4 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.)

(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