On May 10, Paige Corporation issues 2,500 shares of $5 par value common stock for cash at $13 per share. Journalize the issuance of the stock.
Answer to relevant QuestionsOn June 1, Tucker Inc. issues 3,000 shares of no-par common stock at a cash price of $7 per share. Journalize the issuance of the shares.Mike Haden, president of Haden Corporation, believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $600,000, and the corporation paid ...Foyle Corporation has issued 100,000 shares of $5 par value common stock. It was authorized 500,000 shares. The paid-in capital in excess of par value on the common stock is $263,000. The corporation has reacquired 7,000 ...The following accounts appear in the ledger of Polzin Inc. after the books are closed at December 31, 2014.Common Stock (no-par, $1 stated value, 400,000 shares authorized, 250,000 shares issued)................$ ...On December 31, 2013, Paxson Company had 1,300,000 shares of $5 par common stock issued and outstanding. At December 31, 2013, stockholders’ equity had the amounts listed here.Common ...
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