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The charter for Zolkin, Inc., authorizes the company to issue 200,000 shares of $3, no par preferred stock and 900,000 shares of common stock with
The charter for Zolkin, Inc., authorizes the company to issue 200,000 shares of $3, no par preferred stock and 900,000 shares of common stock with $1 par value During its start-up phase, Zelkin, Inc. completed the following transactions: (Click on the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the journal (Record debits first, then credits. Exclude explanations from any journal entries.) Apr 6: Issued 250 shares of common stock to the promotors who organized the corporation, receiving cash of $8,500 Journal Entry Date Accounts Debit Credit Apr Choose from any list or enter any number in the input fields and then click Check Answer 3 parts s remaining Clear All Check Answer The charter for Zolkin, Inc., authorizes the company to issue 200,000 shares of $3, no par preferred stock and 900,000 shares of common stock with $1 par value During its start-up phase, Zelkin, Inc. completed the following transactions: (Click on the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the journal (Record debits first, then credits. Exclude explanations from any journal entries.) Apr 6: Issued 250 shares of common stock to the promotors who organized the corporation, receiving cash of $8,500 Journal Entry Date Accounts Debit Credit Apr Choose from any list or enter any number in the input fields and then click Check Answer 3 parts s remaining Clear All Check Answer * More Info 2018 Apr 6 Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $8,500. 12 Issued 550 shares of preferred stock for cash of $28,000. 14 Issued 1,100 shares of common stock in exchange for land with a market value of $23,000. Print Done Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of Zelkin's balance sheet at December 31, 2018. Assume the is company earned net income of $38,000 during this period. Print Done
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