More info Oct 6 Oct 9 Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,900. Debit Organization Expense. Issued 8,000 shares of common stock to Lucy Little and 13,000 shares to Lori Liard in return for cash equal to the stock's market value of $10 per share. The two women were partners in Liard Rafts Co. Issued 1,000 shares of common stock for $10 cash per share. Oct 26 X Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of the Liard Rafts, Inc., balance sheet at October 31, 2022. The ending balance of Retained Earnings is $75,000. Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Oct 6: Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,900. Debit Organization Expense. Journal Entry Accounts Date Debit Credit Oct 6 Oct 9: Issued 8,000 shares of common stock to Lucy Little and 13,000 shares to Lori Liard in return for cash equal to the stock's market value of $10 per share. The two women were partners in Liard Rafts, Co. Journal Entry Accounts Date Debit Credit Oct 9 Oct 26: Issued 1,000 shares of common stock for $10 cash per share. Journal Entry Date Accounts Debit Credit Oct 26 Requirement 2. Prepare the stockholders' equity section of the Liard Rafts, Inc., balance sheet at October 31, 2022. The ending balance of Retained Earnings is $75,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Liard Rafts, Inc. Balance Sheet (partial) October 31, 2022 Stockholders' Equity: par, shares shares Total paid-in capital Total stockholders' equity More info Oct 6 Oct 9 Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,900. Debit Organization Expense. Issued 8,000 shares of common stock to Lucy Little and 13,000 shares to Lori Liard in return for cash equal to the stock's market value of $10 per share. The two women were partners in Liard Rafts Co. Issued 1,000 shares of common stock for $10 cash per share. Oct 26 X Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of the Liard Rafts, Inc., balance sheet at October 31, 2022. The ending balance of Retained Earnings is $75,000. Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Oct 6: Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,900. Debit Organization Expense. Journal Entry Accounts Date Debit Credit Oct 6 Oct 9: Issued 8,000 shares of common stock to Lucy Little and 13,000 shares to Lori Liard in return for cash equal to the stock's market value of $10 per share. The two women were partners in Liard Rafts, Co. Journal Entry Accounts Date Debit Credit Oct 9 Oct 26: Issued 1,000 shares of common stock for $10 cash per share. Journal Entry Date Accounts Debit Credit Oct 26 Requirement 2. Prepare the stockholders' equity section of the Liard Rafts, Inc., balance sheet at October 31, 2022. The ending balance of Retained Earnings is $75,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Liard Rafts, Inc. Balance Sheet (partial) October 31, 2022 Stockholders' Equity: par, shares shares Total paid-in capital Total stockholders' equity
