2018 Jan. 1 Authorized the issuance of 2 million shares of $5 par value common stock and 100,000 shares of $100 par value, 10% cumulative, preferred stock. Jan. 2 Issued 200,000 shares of common stock for $12 cash per share. Jan. 3 Issued 100,000 shares of common stock in exchange for a building valued at $820,000 and merchandise inventory valued at $380,000. Jan. 4 Paid $10,000 cash to the company's founders for organization activities. (Hint: Debit Organization Expenses) Jan. 5 Issued 12,000 share of preferred stock for $110 cash per share. 2019 June 4 Issued 100,000 shares of common stock for $15 cash per share. Prepare the January 2, 2018, journal entry for Barton's issuance of 200,000 shares of common stock for $12 cash per share assuming a.) Common stock is no-par stock without a stated value. b.) Common stock is no-par stock with a stated value of $10 per share
2018 Jan. 1 Authorized the issuance of 2 million shares of $5 par value common stock and 100,000 shares of $100 par value, 10% cumulative,
Prepare the January 2, 2018,
a.) Common stock is no-par stock without a stated value.
b.) Common stock is no-par stock with a stated value of $10 per share
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