Following are the issuances of stock transactions. A corporation issued 5 , 0 0 0 shares of
Question:
Following are the issuances of stock transactions.
A corporation issued shares of $ par value common stock for $ cash.
A corporation issued shares of nopar common stock to its promoters in exchange for their efforts, estimated
to be worth $ The stock has a $ per share stated value.
A corporation issued shares of nopar common stock to its promoters in exchange for their efforts, estimated
to be worth $ The stock has no stated value.
A corporation issued shares of $ par value preferred stock for $ cash.
Prepare journal entries to record each of the following four separate issuances of stock.
A Record the issue of shares of $ par value
common stock for $ cash.
B Record the issue of shares of nopar common stock
to its promoters in exchange for their efforts, estimated
to be worth $ The stock has a $ per share stated
value.
C Record the issue of shares of nopar common stock
to its promoters in exchange for their efforts, estimated
to be worth $ The stock has no stated value.
D Record the issue of shares of $ par value
preferred stock for $ cash.
Note : journal entry has been entered
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura