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Splish Inc. issues 5 0 0 shares of $ 1 0 par value common stock and 1 0 0 shares of $ 1 0 0
Splish Inc. issues shares of $ par value common stock and shares of $ par value preferred stock for a lump sum of $ a Prepare the journal entry for the issuance when the market price of the common shares is $ each and market price of the preferred is $ each. b Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $ per share. Round answers to decimal places, eg $ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. No Account Titles and Explanation Debit Credit a Cash Common Stock Paidin Capital in Excess of Par Common Stock Preferred Stock Paidin Capital in Excess of Par Preferred Stock b Common Stock Paidin Capital in Excess of Par Common Stock Preferred Stock Paidin Capital in Excess of Par Preferred Stock
Splish Inc. issues shares of $ par value common stock and shares of $ par value preferred stock for a lump sum of $
a Prepare the journal entry for the issuance when the market price of the common shares is $ each and market price of the preferred is $ each.
b Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $ per share.
Round answers to decimal places, eg $ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts.
No Account Titles and Explanation
Debit
Credit
a
Cash
Common Stock
Paidin Capital in Excess of Par Common Stock
Preferred Stock
Paidin Capital in Excess of Par Preferred Stock
b
Common Stock
Paidin Capital in Excess of Par Common Stock
Preferred Stock
Paidin Capital in Excess of Par Preferred Stock
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