The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold...

 

 

 

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The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold for $36 per share during its opening day of trading. Florence Inc. sold 60 million shares at its IPO. Required: 1. Record the issuance of stock, assuming the stock was no-par value common stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 Record the issuance of stock, assuming the stock was no-par value common stock. Note: Enter debits before credits. Transaction a. General Journal Debit Credit ! Required information [The following information applies to the questions displayed below.] The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold for $36 per share during its opening day of trading. Florence Inc. sold 60 million shares at its IPO. 2. Record the issuance of stock, assuming the common stock had a par value of $1 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 5,000,000 should be entered as 5).) View transaction list Journal entry worksheet < 1 Record the issuance of stock, assuming the common stock had a par value of $1 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold for $36 per share during its opening day of trading. Florence Inc. sold 60 million shares at its IPO. Required: 1. Record the issuance of stock, assuming the stock was no-par value common stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 Record the issuance of stock, assuming the stock was no-par value common stock. Note: Enter debits before credits. Transaction a. General Journal Debit Credit ! Required information [The following information applies to the questions displayed below.] The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold for $36 per share during its opening day of trading. Florence Inc. sold 60 million shares at its IPO. 2. Record the issuance of stock, assuming the common stock had a par value of $1 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 5,000,000 should be entered as 5).) View transaction list Journal entry worksheet < 1 Record the issuance of stock, assuming the common stock had a par value of $1 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit

Answer rating: 100% (QA)

1 Record the issuance of stock assuming the stock was nopar value common stock Cash 21600 Additional ... View the full answer