Prepare the journal entry to record Selectist Companys issuance of 104,000 shares of no-par value common stock
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a. Sell for $15 cash per share.
b. Are exchanged for land valued at $1,560,000.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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