Prepare journal entries to record the following four separate issuances of stock A corporation issued 3,000 shares
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Prepare journal entries to record the following four separate issuances of stock
A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash.
A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,500. The stock has a $3 per share stated value.
A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,500. The stock has no stated value.
A corporation issued 750 shares of $75 par value preferred stock for $96,750 cash.
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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