Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions a Max Inc issued 11,000 shares of $1 par value common stock for $20 per share on January 1, 2020 b Max Inc issued 2,200 shares of no par common stock for $25 per share on January 1, 2020 The state of incorporation requires a minimum value per share of $2 c Max Inc issued 1,100 shares of no par common stock for $18 per share on January 1, 2020 d Max Inc issued 11,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $2,200 in legal fees related to the stock issuance e Max Inc issued 22,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $391,600 f Max Inc issued 6,600 shares of Class A common stock ($1 par) and 8,800 shares of Class B common stock ($2 par) at a price of $176,000 At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share Note Carry all decimals in calculations round the final answer to the nearest dollar g Max Inc issued 6,600 shares of Class A common stock ($1 par) and 8,800 shares of Class B common stock ($2 par) at a price of $187,000 At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown Date Account Name Dr Cr a Jan 1, 2020 Cash od o o Common Stock 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O b Jan 1, 2020 Paid in Capital in Excess of ParCommon Stock Common Stock Paid in Capital in Excess of Stated ValueCommon Stock C Jan 1, 2020 Cash Common Stock d Jan 1, 2020 Cash Common Stock Paid in Capital in Excess of ParCommon Stock e Jan 1, 2020 Equipment Common Stock Paid in Capital in Excess of ParCommon Stock f Jan 1, 2020 Common Stock A Common Stock Class A Paid in Capital in Excess of ParCommon Stock Common Stock Class B Paid in Capital in Excess of ParCommon Stock g Jan 1, 2020 Cash Common Stock Class A Paid in Capital in Excess of ParCommon Stock Common Stock Class B Paid in Capital in Excess of ParCommon Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O o o o 0 0 0

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Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions  a  Max Inc  issued 11,000 shares of $1 par value common stock for $20 per share on January 1, 2020  b  Max Inc  issued 2,200 shares of no par common stock for $25 per share on January 1, 2020  The state of incorporation requires a minimum value per share of $2  c  Max Inc  issued 1,100 shares of no par common stock for $18 per share on January 1, 2020  d  Max Inc  issued 11,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $2,200 in legal fees related to the stock issuance  e  Max Inc  issued 22,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $391,600  f  Max Inc  issued 6,600 shares of Class A common stock ($1 par) and 8,800 shares of Class B common stock ($2 par) at a price of $176,000  At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share  Note   Carry all decimals in calculations  round the final answer to the nearest dollar  g  Max Inc  issued 6,600 shares of Class A common stock ($1 par) and 8,800 shares of Class B common stock ($2 par) at a price of $187,000  At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown  Date Account Name Dr  Cr  a  Jan  1, 2020 Cash   od o o Common Stock 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O b  Jan  1, 2020 Paid in Capital in Excess of ParCommon Stock Common Stock Paid in Capital in Excess of Stated ValueCommon Stock   C  Jan  1, 2020 Cash   Common Stock d  Jan  1, 2020 Cash Common Stock Paid in Capital in Excess of ParCommon Stock e  Jan  1, 2020 Equipment Common Stock Paid in Capital in Excess of ParCommon Stock f  Jan  1, 2020 Common Stock A Common Stock Class A Paid in Capital in Excess of ParCommon Stock Common Stock Class B Paid in Capital in Excess of ParCommon Stock g  Jan  1, 2020 Cash Common Stock Class A Paid in Capital in Excess of ParCommon Stock Common Stock Class B Paid in Capital in Excess of ParCommon Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O o o o 0 0 0

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Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions. a. Max Inc.

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