During its first year of operations, Pronghorn Corporation had the following transactions pertaining to its common...

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During its first year of operations, Pronghorn Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 71.000 shares for cash at $5 per share. July 1 Issued 43,500 shares for cash at $8 per share. (a) Your Answer Correct Answer (Used) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit an. 10 Cash 355,000 Common Stock 355,00 aly 1 Cash 348,000 Common Stock 217,50 Paid-in Capital in Excess of Par-Common Stock 130,50 (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Common Stock Paid-in Capital in Excess of Par-Common Stock eTextbook and Media List of Accounts During its first year of operations, Pronghorn Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 71.000 shares for cash at $5 per share. July 1 Issued 43,500 shares for cash at $8 per share. (a) Your Answer Correct Answer (Used) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit an. 10 Cash 355,000 Common Stock 355,00 aly 1 Cash 348,000 Common Stock 217,50 Paid-in Capital in Excess of Par-Common Stock 130,50 (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Common Stock Paid-in Capital in Excess of Par-Common Stock eTextbook and Media List of Accounts

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A B Date Account Titles and Explanation ... View the full answer