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Knighthood Inc. issued 11,000 shares of common stock. Prepare entries to record each of the following independent situations related to this issue of stock. a)
Knighthood Inc. issued 11,000 shares of common stock. Prepare entries to record each of the following independent situations related to this issue of stock.
a) Stock issued for $25 cash per share when par value was $5 per share.
b) Stock issued in exchange for equipment costing $13,000 when the stock had no par or stated value.
c) Stock issued for $15000 cash when the stock had a stated value of $1 per share.
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