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Prepare the issuer's journal entry for each separate transaction. (Omit the $ sign in your response.) (a) On March 1, Edgar Co. issues 44,500 shares

Prepare the issuer's journal entry for each separate transaction. (Omit the "$" sign in your response.)

(a) On March 1, Edgar Co. issues 44,500 shares of $4 par value common stock for $255,000 cash.

Date General Journal Debit Credit
Mar. 1 (Click to select)Rent expensesIssued capital, at par valueRetained earningsCommon stockAccounts receivableCommon stock dividend distributableContributed capital in excess of par value, common stockCash
(Click to select)Retained earningsRent expensesContributed capital in excess of par value, common stockCommon stock dividend distributableAccounts payableIssued capital, at par valueCommon stockCash
(Click to select)Rent expensesAccounts payableContributed capital in excess of par value, common stockCommon stockRetained earningsCommon stock dividend distributableCashIssued capital, at par value

(b) On April 1, GT Co. issues no-par value common stock for $50,000 cash.

Date General Journal Debit Credit
Apr. 1 (Click to select)Accounts receivableCashIssued capital, at par valueCommon stock, no-par valueRetained earningsRent expensesCommon stock dividend distributableContributed capital in excess of par value, common stock
(Click to select)Rent expensesCashAccounts receivableCommon stock dividend distributableRetained earningsCommon stock, no-par valueContributed capital in excess of par value, common stockIssued capital, at par value

(c) On April 6, MTV issues 2,000 shares of $20 par value common stock for $35,000 of inventory, $135,000 of machinery, and acceptance of an $84,000 note payable.

Date General Journal Debit Credit
Apr. 6 (Click to select)Note payableCommon stockMachineryInventoryAccounts payableRent expensesContributed capital in excess of par value, common stockCash
(Click to select)Contributed capital in excess of par value, common stockAccounts payableMachineryRent expensesNote payableCashInventoryCommon stock
(Click to select)Note payableCommon stockMachineryAccounts payableCashContributed capital in excess of par value, common stockRent expensesInventory
(Click to select)Note payableCashContributed capital in excess of par value, common stockCommon stockInventoryMachineryRent expensesAccounts payable
(Click to select)Common stockInventoryMachineryNote payableContributed capital in excess of par value, common stockRent expensesAccounts payableCash

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