More info - X Aug 6 Aug 9 Issued 700 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $19,600. Debit Organization Expense. Issued 12,000 shares of common stock to Jenny Stike and 18,000 shares to Paula Picanso in return for cash equal to the stock's market value of $27 per share. The two women were partners in Picanso Rafts Co. Issued 600 shares of common stock for $24 cash per share. Aug 26 Print Done 31, ZUZZ Requirements TE - X 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of the Picanso Rafts, Inc., balance sheet at August 31, 2022. The ending balance of Retained Earnings is $60,000. tid Print Done sh Demento Residency profectorio 135.000 hore of cookies Porno Icons Head Another Woche metry Data Acco D Cred A Aug 12.000 hrs of cock 1.000 Pasir Panorama Theme Jumal Da Account Det Cred AUD Aug 26: Issued 600 shares of common stock for $24 cash per share. Journal Entry Accounts Date Debit Credit Aug 26 Requirement 2. Prepare the stockholders' equity section of the Picanso Rafts, Inc., balance sheet at August 31, 2022. The ending balance of Retained Eamings is $60,000, equity section of the balance sheet) Picanso Rafts, Inc. Balance Sheet (partial) August 31, 2022 Stockholders' Equity: par shares shares Total paid-in capital e partners who own Picanso Rafts Co wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Picanso Ralts, Inc. The charter from morgia authorizes the corporation to issue 125,000 shares of $6 par common stock. In its first month, Picanso Rafts, Inc., completed the following transactions (Click the icon to view the transactions.) and the requirements CHE uirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) 6: Issued 700 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $19,600. Debit Organization Expense. Journal Entry Accounts Date Debit Credit 6 9: Issued 12,000 shares of common stock to Jenny Stike and 18,000 shares to Paula Picanso in return for cash equal to the stock's market value of $27 per share. The two women nso Rafts, Co
