On March 31, 2019- Spiderman Developments Inc. issued 20,000 packages of 1 preferred share and 1 common
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Part B:
On May 31, 2019- Flash Investments Inc. issued 30,000 packages of 1 preferred share and 1 common share for $70 each. The market value of the preferred shares was unknown, and the market value of the common shares was $65. Prepare journal entries using the residual value method record the issuance of the shares.
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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