On October 3, 2020, Synthetic Inc, a cell phone protector company, issued 4,000 of its preferred shares

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On October 3, 2020, Synthetic Inc, a cell phone 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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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 17, 2019 11:41 AM

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On October 3, 2020, Synthetic Inc, a cell phone protector company, issued 4,000 of its preferred shares

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a 2020 Oct 3 Cash 60000 Preferred Shares 60000 To r...View the full answer

Fundamental Accounting Principles Volume II

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