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Rodriguez Corporation issues 11,000 shares of its common stock for $196,900 cash on February 20. Prepare journal entries to record this event under each of
Rodriguez Corporation issues 11,000 shares of its common stock for $196,900 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
4a. The stock has a $14 par value.
4b. The stock has neither par nor stated value.
4c. The stock has a $7 stated value.
4d. The company purchases 1,000 shares of the $14 par value stock for $30 dollars each.
4e. Prepare the Stockholders Equity section of the Balance Sheet using the information with 4a. and 4d.
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