Blue Corporation issues 200 packages of securities for $80 per package, or a total of $16,000 Each package includes four shares of $5 par common stock and one share of $30 par preferred stock If the separate market values are $20 per share for the common stock and $70 per share for the preferred st...

Blue Corporation issues 200 packages of securities for $80 per package, or a total of $16,000. Each

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Blue issues 200 “packages” of securities for $80 per package, or a total of $16,000. Each package includes four shares of $5 par and one share of $30 par preferred stock. If the separate market values are $20 per share for the and $70 per share for the preferred stock, what journal entry will Blue make to record this transaction?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Question Posted: Dec 09, 2013 09:05 AM

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Blue Corporation issues 200 packages of securities for $80 per package, or a total of $16,000. Each

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Cash 16000 Common Stock 5 par 800 shares 4000 Additional Paidin Capital on Common ...View the full answer

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