Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first

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Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first year, the company has the following transactions:

Journalize the transactions and calculate how many shares of stock are outstanding at August 3.

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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Question Posted: Aug 16, 2022 07:38 AM

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Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first

Question:

Mar. 1 Apr. 10 Oct. 3 Issued 40,000 shares of stock at $9.75 per share Issued 1,000 shares of stock for legal services valued at $10,000. Purchased 1,000 shares of treasury stock at $9 per share

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Mar 1 Cash account debit40000975 390000 To common ...View the full answer

Principles Of Accounting Volume 1 Financial Accounting

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