On October 3, 2023, Synthetic Inc, a cellphone protector company, issued 4,000 of its preferred shares for
Question:
On October 3, 2023, Synthetic Inc, a cellphone protector company, issued 4,000 of its preferred shares for cash of $15 each. On November 19 the company issued 3,400 preferred shares in exchange for land with a fair market value of $52,480.
a. Prepare the entries for October 3 and November 19.
b. Calculate the average issue price per preferred share.
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a 2023 Oct 3 Cash Preferred Shares To record issuan...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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