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The articles of incorporation have been filed, and Boca Animation is officially open for business! Rachel's new corporation has begun issuing stock, and she has

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The articles of incorporation have been filed, and Boca Animation is officially open for business! Rachel's new corporation has begun issuing stock, and she has already begun thinking about dividends as well. When Manuel asks her to give him the opportunity to be Boca Animation's accountant, she is more than happy to hire him. 1. At Boca Animation's initial public offering, 10,000 shares of stock are issued at a par value of $1 each. How would Manuel journalize this transaction? Use the following template for each of the journal entries. Date Accounts and Explanation Debit Credit 2. Manuel makes the decision to invest in Boca Animation himself. He decides to purchase 250 shares of common stock at par value. What percentage of the company does Manuel own? How does this affect his influence on the company? Show your work on any calculations

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