1. Hao Corporation had the following transactions during the current period. Mar. 2 Issued 20,000 common shares...
Question:
1. Hao Corporation had the following transactions during the current period.
Mar. 2 | Issued 20,000 common shares to its legal counsel in payment of a bill for $28,000 for services performed in helping the company incorporate. | |
June 12 | Issued 40,000 common shares for $415,000 cash. | |
July 11 | Issued 1,000, $3 noncumulative preferred shares at $110 per share cash. | |
Nov. 28 | Issued 2,000, $3 noncumulative preferred shares at $96 per share cash. |
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation. | Debit | Credit |
---|
Mar. 2June 12July 11Nov. 28 | enter an account title to record issuance of shares | enter a debit amount | enter a credit amount |
---|---|---|---|
enter an account title to record issuance of shares | enter a debit amount | enter a credit amount | |
(To record issuance of shares.) | |||
choose a transaction date Mar. 2June 12July 11Nov. 28 | enter an account title to record issuance of shares | enter a debit amount | enter a credit amount |
enter an account title to record issuance of shares | enter a debit amount | enter a credit amount | |
(To record issuance of shares.) | |||
choose a transaction date Mar. 2June 12July 11Nov. 28 | enter an account title to record issuance of shares | enter a debit amount | enter a credit amount |
enter an account title to record issuance of shares | enter a debit amount | enter a credit amount | |
(To record issuance of shares.) | |||
choose a transaction date Mar. 2June 12July 11Nov. 28 | enter an account title to record issuance of shares | enter a debit amount | enter a credit amount |
enter an account title to record issuance of shares | enter a debit amount | enter a credit amount | |
(To record issuance of shares.) |
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak