Record journal entries for the following separate transactions. a. Max inc. issued 5,000 shares of $1...

  

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Record journal entries for the following separate transactions. a. Max inc. issued 5,000 shares of $1 par value comman stock for $20 per share on January 1, 2020 b. Max Inc. issued 1,200 shares cf no par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of S2. c. Max Inc. issued 600 shares of no-par common stock for $18 per share on January 1, 2020. d. Max Inc. issued 6,000 shares of $1 par value common stack for $18 per share on January 1, 2020, and incurred $1,200 in legal fees related to the stock issuance. e. Max Inc. issued 12,000 shares of common stock ($1 par) in exchange for equipment with a fair value of S213,600. f. Max inc. issued 3,600 shares of Class A cormmon stock ($1 par) and 4,800 shares of Class B common stock (52 par) at a price of $96,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share. 8. Max Inc. issued 3,600 shares of Class A common stock ($1 par) and 4,800 shares of Class B cammon stock (52 par) at a price of $102.000. At the time of issuance, the market price of the Class A common stack is $16 per share, and the market price of the Class B common stock is unknown. Date Account Name Dr. Cr. a. jan, 1, 220 Comman Stock b. Jarn. 1, 2020 Common Steck C Jan, 1, 2020 d. Jarn, 1, 2020 Common Stock e Jan, 1, 2020 Common Steck f. an. 1, 2020 Comman Steck-Class A Common Steck-Class D gan. 1, 2c20 Comman Stock-Class A Record journal entries for the following separate transactions. a. Max inc. issued 5,000 shares of $1 par value comman stock for $20 per share on January 1, 2020 b. Max Inc. issued 1,200 shares cf no par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of S2. c. Max Inc. issued 600 shares of no-par common stock for $18 per share on January 1, 2020. d. Max Inc. issued 6,000 shares of $1 par value common stack for $18 per share on January 1, 2020, and incurred $1,200 in legal fees related to the stock issuance. e. Max Inc. issued 12,000 shares of common stock ($1 par) in exchange for equipment with a fair value of S213,600. f. Max inc. issued 3,600 shares of Class A cormmon stock ($1 par) and 4,800 shares of Class B common stock (52 par) at a price of $96,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share. 8. Max Inc. issued 3,600 shares of Class A common stock ($1 par) and 4,800 shares of Class B cammon stock (52 par) at a price of $102.000. At the time of issuance, the market price of the Class A common stack is $16 per share, and the market price of the Class B common stock is unknown. Date Account Name Dr. Cr. a. jan, 1, 220 Comman Stock b. Jarn. 1, 2020 Common Steck C Jan, 1, 2020 d. Jarn, 1, 2020 Common Stock e Jan, 1, 2020 Common Steck f. an. 1, 2020 Comman Steck-Class A Common Steck-Class D gan. 1, 2c20 Comman Stock-Class A

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Common stock Date Account Name Debit Credit a01Jan20 Cash 120000 600020 6000 60001 114000 600019 Com... View the full answer