Question
On January 1, 2018 Abraham Networking Solutions started business. On January 1, 2018, it issued stock for cash. Abraham's balance sheet at December 31,
On January 1, 2018 Abraham Networking Solutions started business. On January 1, 2018, it issued stock for cash. Abraham's balance sheet at December 31, 2018, showed the following: (Click the icon to view the stockholders' equity balances.) During 2018, Abraham i (Click the icon to view the 2018 transactions.) Read the requirement. Requirement 1. Journalize all of Abraham's stockholders' equity transactions during the year. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Issued stock for $6 per share. Date Journal Entry Accounts Debit Credit b. Purchased 1,300 shares of treasury stock, paying $6 per share. Journal Entry Date Accounts c. Resold some of the treasury stock. Debit Credit
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