Colorado Corporation has two classes of stock, $10 par common and $20 par preferred. Journalize Colorados issuance
Question:
Colorado Corporation has two classes of stock, $10 par common and $20 par preferred. Journalize Colorado’s issuance of the following:
a. 2,000 shares of common stock for $40 per share
b. 2,000 shares of preferred stock for a total of $94,000
Explanations are not required.
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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Journal ACCOUNTS POST REF Dr Cr a Cash 2000 shares x40 8...View the full answer
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