{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T04:48:19-04:00", "answer_date": "2024-06-28 04:48:19", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4243088", "url": "\/study-help\/questions\/recording-the-issuances-of-common-stock-during-its-first-year-4243088", "question_creation_date_js": "2024-06-28T04:48:19-04:00", "question_creation_date": "Jun 28, 2024 04:48 AM", "meta_title": "[Solved] (Recording the Issuances of Common Stock) | SolutionInn", "meta_description": "Answer of - (Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following t | SolutionInn", "meta_keywords": "recording,issuances,common,stock,first,year,operations,sitwell,corporation,transactions,pertaining,jan", "question_title_h1": "(Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock. Jan. 10", "question_title": "(Recording the Issuances of Common Stock) During its first year of operations,", "question_title_for_js_snippet": "(Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock Jan 10 Issued 80,000 shares fot cash at $6 per share Mar 1 Issued 5,000 shares to attorneys in payment of a bill for $35,000 for services rendered in helping the company to incorporate July 1 Issued 30,000 shares for cash at $8 per share Sept 1 Issued 60,000 shares for cash at $10 a Prepare the journal entries for these transactions, assuming that the common stock has a par value of $3 per share b Prepare the jopurnal entries for these transactions, assuming that the common stock is no par with a stated value of $2 per share", "question_description": "(Recording the Issuances of Common Stock) During its first year of operations, Sitwell Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 80,000 shares fot cash at $6 per share. Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for $35,000 for services rendered in helping the company to incorporate. July 1 Issued 30,000 shares for cash at $8 per share. Sept. 1 Issued 60,000 shares for cash at $10. a.Prepare the journal entries for these transactions, assuming that the common stock has a par value of $3 per share. b. Prepare the jopurnal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per share", "transcribed_text": "", "related_book": { "title": "Auditing and Assurance Services", "isbn": "978-1259573286, 1259573281, 978-1260152166", "edition": "7th edition", "authors": "Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1263.jpg", "uri": "\/textbooks\/auditing-and-assurance-services-7th-edition-1263", "see_more_uri": "" }, "free_related_book": { "isbn": "0974546003", "uri": "\/textbooks\/endangered-brains-how-chemicals-threaten-our-future-1st-edition-978-0974546001-266705", "name": "Endangered Brains How Chemicals Threaten Our Future", "edition": "1st Edition" }, "question_posted": "2024-06-28 04:48:19", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-should-be-the-relationship-between-tolerable-misstatement-in-the", "description": "What should be the relationship between tolerable misstatement in the audit of an account balance and the amount of monetary misstatement considered material to the overall financial statements?", "stars": 3 }, { "url": "\/study-help\/psychology\/in-your-opinion-how-important-should-case-studies-be-in-1982995", "description": "In your opinion, how important should case studies be in the establishment of a treatment method as valid?", "stars": 3 }, { "url": "\/aberkonkie-corporation-prepares-quarterly-financial-statements-the-post-closing-trial", "description": "Aberkonkie Corporation prepares quarterly financial statements. 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