Question: help me pls I will give you thumbs up! Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues


Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 13,000 shares of its common stock for $77,400 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $4 par value. 2. The stock has neither par nor stated value. 3. The stck has a $2 stated value. Journal entry worksheet Record the issue of 13,000 shares of $4 par value common stock for $77,400 cash. Journal entry worksheet Record the issue of 13,000 shares of no-par, no-stated value common stock for $77,400 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 13,000 shares of $2 stated value common stock for $77,400 cash. Note: Enter debits before credits
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
