During its first year of operations, the Bevis Corporation had the following transactions pertaining to its common

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During its first year of operations, the Bevis Corporation had the following transactions pertaining to its common stock.

Jan. 10 Issued 80,000 shares for cash at $\$ 5$ per share.

July 1 Issued 30,000 shares for cash at $\$ 7$ per share.

\section*{Instructions}

(a) Journalize the transactions, assuming that the common stock has a par value of $\$ 5$ per share.

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $\$ 1$ per share.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 14, 2024 01:10 AM

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During its first year of operations, the Bevis Corporation had the following transactions pertaining to its common

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Financial Accounting

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