Novak Corp. issued 2,100 shares of stock. Prepare the entry for the issuance under the following...

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Novak Corp. issued 2,100 shares of stock. Prepare the entry for the issuance under the following independent assumptions. (Credit account titles are automatically indented when 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.) (a) The stock had a par value of $5 per share and was issued for a total of $48,300. (b) The stock had a stated value of $5 per share and was issued for a total of $48,300. (c) The stock had no par or stated value and was issued for a total of $48,300. (d) The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $48,300. (e) The stock had a par value of $5 per share and was issued for land worth $48,300. No. Account Titles and Explanation Debit Credit No. Account Titles and Explanation (a) Retained Earnings Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock (b) (c) Debit I Credit (e) C 1000 (d) Novak Corp. issued 2,100 shares of stock. Prepare the entry for the issuance under the following independent assumptions. (Credit account titles are automatically indented when 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.) (a) The stock had a par value of $5 per share and was issued for a total of $48,300. (b) The stock had a stated value of $5 per share and was issued for a total of $48,300. (c) The stock had no par or stated value and was issued for a total of $48,300. (d) The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $48,300. (e) The stock had a par value of $5 per share and was issued for land worth $48,300. No. Account Titles and Explanation Debit Credit No. Account Titles and Explanation (a) Retained Earnings Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock (b) (c) Debit I Credit (e) C 1000 (d)

Answer rating: 100% (QA)

Solution No a b C d e Account title and explanation Cash Common ... View the full answer