Question
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 7,000 shares of $10 par value common stock for $84,000
Prepare journal entries to record the following four separate issuances of stock.
A corporation issued 7,000 shares of $10 par value common stock for $84,000 cash.
A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,000. The stock has a $1 per share stated value.
A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,000. The stock has no stated value.
A corporation issued 1,750 shares of $50 par value preferred stock for $118,500 cash.
-Record the issue of 7,000 shares of $10 par value common stock for $84,000 cash.
-Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,000. The stock has a $1 per share stated value.
-Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,000. The stock has no stated value.
-Record the issue of 1,750 shares of $50 par value preferred stock for $118,500 cash.
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Management Accounting For Business Decisions
Authors: Colin Drury
2nd Edition
1861527705, 978-1861527707
