Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help! Will leave good feedback. Please tell me the 4 journal entries from the transaction list based on the information in the text. Thank

Please help! Will leave good feedback. Please tell me the 4 journal entries from the transaction list based on the information in the text. Thank you!! image text in transcribed
Prepare journal entries to record each of the following four separate issuances of stock. L A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash 2. A corporation issued 3,000 shar es of no-par common stock to its promoters in exchange for their efforts, estimated to be $25,500. The stock has a $1 per share stated value. 3. A corporation issued 3,000 shar es of no-par common stock to its promoters in exchange for their efforts, estimated to be $25,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $t00 par value preferred stock for $175,500 cash. View transaction list Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. 1 144,000 Record the issue of 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $25,500. The stock has a $1 per share stated value. 2 Record the issue of 3,000 shares of no-par common stock to its promoters in exchange for their eforts, estimated 3 to be worth $25,500. The stock has no stated value. Record the issue of 1,500 shares of $100 par value preferred stock for $175,500 cash 4 Note:-journal entry has been entered el

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

Principles Of Food Beverage And Labor Cost Controls

Authors: Paul R. Dittmer, J. Desmond Keefe III

9th Edition

0471783471, 978-0471783473

More Books

Students also viewed these Accounting questions

Question

What is job rotation ?

Answered: 1 week ago