Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need answer for this ? please Luis Corporation issued 2,500 ordinary shares. Prepare the entry for the issuance under the following assumptions. (Credit account

i need answer for this

image text in transcribed

? please

Luis Corporation issued 2,500 ordinary shares. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not (a) The shares had a par value of $7 per share and were issued for a total of $47,600. (b) The shares had a stated value of $7 per share and were issued for a total of $47,600. (c) The shares had no par or stated value and were issued for a total of $47,600. (d) The shares had a par value of $7 per share and were issued to attorneys for services during incorporation valued at $47,600. (e) The shares had a par value of $7 per share and were issued for land worth $47,600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

(a) solve for P and (b) solve for t. A = Pert

Answered: 1 week ago