The partners who own Dunn Rafts Inc. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Dunn Rafts, Inc. The charter from the state of Arizona authorizes the corporation to issue 160,000 shares of $6 par common stock. In its first month, Dunn Rafts, Inc., completed the following transactions: (Click 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.) Mar 6: Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,300. Debit Organization Expense. Journal Entry Accounts Date Debit Credit Mar 6 Mar 9: Issued 6,000 shares of common stock to Anna Bergen and 13,000 shares to Daniella Dunn in return for cash equal to the stock's market value of $27 per share. The two women were partners in Dunn Rafts, Co. Journal Entry Accounts Date Debit Credit Mar 9 Mar 26: Issued 1,500 shares of common stock for $22 cash per share. Choose from any list or enter any number in the input fields and then continue to the next question. The partners who own Dunn Rafts Inc. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Dunn Rafts, Inc. The charter from the state of Arizona authorizes the corporation to ssue 160,000 shares of $6 par common stock. In its first month, Dunn Rafts, Inc., completed the following cransactions: (Click the icon to view the transactions.) Read the requirements. Journal Entry Accounts Date Debit Credit Mar 26 Requirement 2. Prepare the stockholders' equity section of the Dunn Rafts, Inc., balance sheet at March 31, 2019. The ending balance of Retained Earnings is $50,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Dunn Rafts, Inc. Balace Sheet (partial) March 31, 2019 Stockholders' Equity: par, shares shares Total paid-in capital Total stockholders' equity ? Choose from any list or enter any number in the input fields and then continue to the next question. More Info Mar 6 Issued 300 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $6,300. Debit Organization Expense. 9 Issued 6,000 shares of common stock to Anna Bergen and 13,000 shares to Daniella Dunn in return for cash equal to the stock's market value of $27 per share. The two women were partners in Dunn Rafts Co. 26 Issued 1,500 shares of common stock for $22 cash per share. Print Done