Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me asap Required information [The following information applios to the questions displayed below] Following are the issuances of stock transactions. 1. A corporation

please help me asap image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applios to the questions displayed below] Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has a $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $151,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Record the issue of 9,000 shares of $20 par value common stock for $216,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has a $1 per share stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has no stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 2,250 shares of $50 par value preferred stock for $151,500 cash. Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Financial and Managerial Accounting the basis for business decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

16th edition

0077664078, 978-0077664077, 78111048, 978-0078111044

More Books

Students also viewed these Accounting questions

Question

Which site are you most likely to use on a regular basis? Why?

Answered: 1 week ago

Question

5. The mechanics of the circular flow model. Summary

Answered: 1 week ago