Sierra Systems completed the following share issuance transactions: Sep 19 Issued 1,300 common shares for cash of
Question:
Sierra Systems completed the following share issuance transactions:
Sep 19 Issued 1,300 common shares for cash of $10.00 per share.
Oct 3 Sold 500 preferred shares for $25,000 cash.
11 Received inventory valued at $21,000 and equipment with a market value of $16,000. Issued 12,000 common shares in exchange.
Requirements
Journalize the transactions. Explanations are not required.
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Journal DATE ACCOUNTS POST REF DR CR Sep 19 C...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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