Current Attempt in Progress Waterway Company is authorized to issue 10000 shares of 8%, $100 par...

  

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Current Attempt in Progress Waterway Company is authorized to issue 10000 shares of 8%, $100 par value preferred stock and 502000 shares of no-ar common stock with a stated value of $1 per share. If Waterway issues 5000 shares of preferred stock for land with an asking price of $590000 and a market value of $549000, which of the following would be the journal entry for Waterway to record? Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par Preferred Land Preferred Stock 500000 590000 549000 500000 500000 90000 549000 Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par Preferred Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par- Preferred 500000 590000 549000 549000 500000 500000 90000 549000 500000 49000 Attempts: 0 of 1 used. Sudent Ac Current Attempt in Progress Waterway Company is authorized to issue 10000 shares of 8%, $100 par value preferred stock and 502000 shares of no-ar common stock with a stated value of $1 per share. If Waterway issues 5000 shares of preferred stock for land with an asking price of $590000 and a market value of $549000, which of the following would be the journal entry for Waterway to record? Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par Preferred Land Preferred Stock 500000 590000 549000 500000 500000 90000 549000 Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par Preferred Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par- Preferred 500000 590000 549000 549000 500000 500000 90000 549000 500000 49000 Attempts: 0 of 1 used. Sudent Ac

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The journal entry to post would involve Land would be debited by ... View the full answer