Question
To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock
To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-8. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
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