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please help.. i need to understand it clearly so i can learn and need to be able to see where to put it Rodriguez Corporation
please help.. i need to understand it clearly so i can learn and need to be able to see where to put it
Rodriguez Corporation issues 7,000 shares of its common stock for $167,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $18 par value. 2. The stock has neither par nor stated value 3. The stock has a $9 stated value. View transaction list Journal entry worksheet A B Record the issue of 7,000 shares of 518 par value common stock for $167,800 cash Note: Enter debits before credits Credit Transaction General Journal Cash Common stock 518 par value Pad-in capital in excess of par Valu.common stock Debit 167,800 2. The stock has neither par nor stated value. 3. The stock has a $9 stated value. View transaction list Journal entry worksheet Step by Step Solution
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