Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1,...
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Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Co. issues 51,500 shares of $4 par value common stock for $324,500 cash. b. On April 1, OP Co. issues no-par value common stock for $88,000 cash. c. On April 6, MPG issues 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable. View transaction list Journal entry worksheet 1 2 3 Record the issuance of 51,500 shares of $4 par value common stock for $324,500 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal a. On March 1, Atlantic Co. issues 51,500 shares of $4 par value common stock for $324,500 cash. b. On April 1, OP Co. issues no-par value common stock for $88,000 cash. c. On April 6, MPG issues 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of acceptance of a $93,000 note payable. View transaction list Journal entry worksheet < 1 2 3 Record the issuance of no-par value common stock for $88,000 cash. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the issuance of 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Co. issues 51,500 shares of $4 par value common stock for $324,500 cash. b. On April 1, OP Co. issues no-par value common stock for $88,000 cash. c. On April 6, MPG issues 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable. View transaction list Journal entry worksheet 1 2 3 Record the issuance of 51,500 shares of $4 par value common stock for $324,500 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal a. On March 1, Atlantic Co. issues 51,500 shares of $4 par value common stock for $324,500 cash. b. On April 1, OP Co. issues no-par value common stock for $88,000 cash. c. On April 6, MPG issues 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of acceptance of a $93,000 note payable. View transaction list Journal entry worksheet < 1 2 3 Record the issuance of no-par value common stock for $88,000 cash. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the issuance of 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal
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The journal entries are given below Transaction General Journal De... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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