Question
how to go about writing journal entries for this question: P 6. Glass Corporation began operations on September 1, 2011. The corporations charter authorized 150,000
how to go about writing journal entries for this question:
P 6. Glass Corporation began operations on September 1, 2011. The corporations charter authorized 150,000 shares of $8 par value common stock. Glass Corporation engaged in the following transactions during its first quarter: Sept. 1 Issued 25,000 shares of common stock, $250,000. 1 Paid an attorney $16,000 to help start up and organize the corporation and obtain a corporate charter from the state. Oct. 2 Issued 40,000 shares of common stock, $480,000. 15 Purchased 5,000 shares of common stock for $75,000. Nov. 30 Declared a cash dividend of $0.40 per share to be paid on December 15 to stockholders of record on December 10.
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