Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock. During the year, thecompany has the following transactions:Jan. 3 Issued 61,000 shares at $10 per share.Jun. 15 Issued 4,700 shares in exchange for office equipment with a clearly determined value of $45,000.Aug. 16 Purchased 3,000 shares of treasury stock at $22 per share.Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

These are the accounting transactions that are having a monetary impact on the financial statement…

Answered: ompany has the following transactions

Business

Accounting

ompany has the following transactions

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock. During the year, the
company has the following transactions:
Jan. 3 Issued 61,000 shares at $10 per share.
Jun. 15 Issued 4,700 shares in exchange for office equipment with a clearly determined value of $45,000.
Aug. 16 Purchased 3,000 shares of treasury stock at $22 per share.
Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

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