Question
Fitness Equipment DoctorFitness Equipment Doctor, Inc., began operations during 20182018. The company has been authorized to sell 100 comma 000100,000 shares of $55 par value
Fitness Equipment DoctorFitness Equipment Doctor,
Inc., began operations during
20182018.
The company has been authorized to sell
100 comma 000100,000
shares of
$55
par value common stock and
40 comma 00040,000
shares of
$1010
par,
1515%
preferred stock. During the year,
Fitness Equipment DoctorFitness Equipment Doctor
had the following transactions related to stockholders' equity:
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Requirement 1. Record the transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.)
MarMar
1: Issued
7 comma 0007,000
shares of common stock to
AdamAdam
MazellaMazella
in exchange for
$ 22 comma 000$22,000
cash and a truck with a market value of
$ 13 comma 000$13,000.
| Journal Entry | ||||
| Date | Accounts | Debit | Credit | |
| Mar | 1 |
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