Ashford Corporation issued 10,000 shares of no-par common stock for $5 per share on March 13. Record the stock issuance.
Answer to relevant QuestionsSusan May Bakery, Inc. reported a prior-period adjustment in 2016. An accounting error caused net income of prior years to be overstated by $4,000. Retained Earnings at December 31, 2015, as previously reported, was $42,000. ...C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 ...Waco Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes Waco to issue 80,000 shares of 10%, $100 par value cumulative preferred stock, and 120,000 ...Platinum Trust has the following classes of stock: Preferred Stock—3%, $14 Par Value; 7,000 shares authorized, 5,500 shares issued and outstanding Common Stock—$0.20 Par Value; 2,250,000 shares authorized, 1,650,000 ...Consider the following facts for Vanilla Valley: a. Beginning and ending Retained Earnings are $43,000 and $69,000, respectively. Net income for the period is $58,000. b. Beginning and ending Plant Assets are $120,600 and ...
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