Question
Share Issuances for Cash Finlay, Inc. sued 11.000 shares of $50 par value preferred stock at 570 per share and 15,000 shares of no
Share Issuances for Cash Finlay, Inc. sued 11.000 shares of $50 par value preferred stock at 570 per share and 15,000 shares of no par value common stock at $10 per share. The common stock has no stated value All asuances were for cash Prepare the journal entries to record the share issuances b. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $5 per share. c. Prepare the journal entry for the issuance of the common stock assuming that it had a par value of $1 per share Com General Journal Description Common Sock 15000s of 10 pm star Debit Credit 0 0
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