Leo & Sons, Inc. is authorized to issue 50,000 shares of $2 par value common stock. Prepare

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Leo & Sons, Inc. is authorized to issue 50,000 shares of $2 par value common stock.

Prepare the journal entries for the following transactions (omit explanations):

a. Issued 15,000 shares at $30 per share.

b. Issued 250 shares in exchange for legal services valued at $9,000.

c. Issued 5,000 shares at $40 per share, paying an underwriter $500 in stock issuance costs.

Related Book For answer-question

Horngrens Financial and Managerial Accounting The Financial Chapters

ISBN: 978-0134486857

6th edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Posted Date: May 31, 2022 02:23 AM

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Leo & Sons, Inc. is authorized to issue 50,000 shares of $2 par value common stock. Prepare

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Horngrens Financial and Managerial Accounting The Financial Chapters

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