Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 15, 2024

On August 15, 2013 Troy Ellison accepted 3,500 shares of $1.25 par common stock at par value for legal services he provided in the formation

On August 15, 2013 Troy Ellison accepted 3,500 shares of $1.25 par common stock at par value for legal services he provided in the formation of XYZ Corp.
Make the journal entry to record the transaction.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Integrated Reporting

Authors: Chiara Mio

1st Edition

1137551488, 9781137551481

More Books

Students also viewed these Accounting questions

Question

★★★★★

Under physiological conditions, polylysine assumes a random coil conformation. Under what conditions might it form an helix?

Answered: 1 week ago

Question

★★★★★

William Bryant is the new owner of Ace Computer Services. At the end of August 2019, his first month of ownership, Bryant is trying to prepare monthly financial statements. Below is some information...

Answered: 1 week ago

Question

★★★★★

2. Place mini-exhibits of student work at local grocery stores, libraries, or community centers.

Answered: 1 week ago

Question

★★★★★

Refer to the Crystal Springs Filtration Department Data Set. 1. Compute the May conversion costs in the Filtration Department. 2. If the Filtration Department completely processed 205,000 liters,...

Answered: 1 week ago

Question

★★★★★

A Company budgeted unit sales of 34,000 units for January 2019 and 40,000 units for February 2019. The company has a policy of having an inventory of units on hand at the end of each month equal to...

Answered: 1 week ago

Question

★★★★★

What is the integrative relationship between scope, statement of work, work breakdown structure, and work package.

Answered: 1 week ago

Question

★★★★★

PLEASE ANSWER PROBLEM 3. IT HAS 15 QUESTIONS Introduction to Cost Accounting and Cost Accounting Cycle 7. Utility costs were incurred in the factory, P450,000. 8. Advertising costs paid, P2,250,000....

Answered: 1 week ago

Question

★★★★★

Identifies process strategies most useful for a window manufacture by using the tools of process analysis. Then Identify recent advances in production technology that would be useful in the window...

Answered: 1 week ago

Question

★★★★★

Mini-Case B (7 marks) Like every Canadian couple, Amira and Owen carry quite a lot of debt. . Three years ago, Amira purchased a Subaru Outback costing $34,750 before sales tax of 15%, with a $5,000...

Answered: 1 week ago

Question

★★★★★

1. Use the experimental data below to produce a graph that effectively conveys the information. 2. Answer the questions below. Number of kinds of colonies Number of kinds of colonies Test subject...

Answered: 1 week ago

Question

★★★★★

Amesbury Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support)....

Answered: 1 week ago

Question

★★★★★

=+1. What are some of the benefits of working in social media? What are some of the challenges?

Answered: 1 week ago

Question

★★★★★

=+What action steps will you take to handle this situation?

Answered: 1 week ago

Question

★★★★★

=+2. You are volunteering for the Salvation Army, and you have been tasked by your supervisor to create a social media campaign to raise funds during the holidays. However, your supervisors boss does...

Answered: 1 week ago

Previous Question Next Question