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Blue River Inc. was formed on January 1, 2020. Its common shares have no par value. During 2020, the following share transactions occurred. Jan 1 Issued 11,000 common shares for $2.25 per share May Issued 4,800 common shares for $2.50 per share 15 Issued 5,900 common shares in exchange for equipment with a fair value of $14,000 Jul 1 Sep Issued 2,100 common shares for $2.25 per share 26

Blue River Inc. was formed on January 1, 2020. Its common shares have no par value. During 2020, the following share transactions occurred. Jan 1 Issued 11,000 common shares for $2.25 per share May Issued 4,800 common shares for $2.50 per share 15 Issued 5,900 common shares in exchange for equipment with a fair value of $14,000 Jul 1 Sep Issued 2,100 common shares for $2.25 per share 26

FINANCIAL ACCOUNTING
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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Blue River Inc. was formed on January 1, 2020. Its common shares have no par value. During 2020, the following share transactions occurred. Jan 1 Issued 11,000 common shares for $2.25 per share May Issued 4,800 common shares for $2.50 per share 15 Issued 5,900 common shares in exchange for equipment with a fair value of $14,000 Jul 1 Sep Issued 2,100 common shares for $2.25 per share 26 Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Cred Jan 1 Issued shares for cash May 15 Issued shares for cash Jul 1 Issued shares for equipment Sep 26 Issued shares for cash
Transcribed Image Text:Blue River Inc. was formed on January 1, 2020. Its common shares have no par value. During 2020, the following share transactions occurred. Jan 1 Issued 11,000 common shares for $2.25 per share May Issued 4,800 common shares for $2.50 per share 15 Issued 5,900 common shares in exchange for equipment with a fair value of $14,000 Jul 1 Sep Issued 2,100 common shares for $2.25 per share 26 Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Cred Jan 1 Issued shares for cash May 15 Issued shares for cash Jul 1 Issued shares for equipment Sep 26 Issued shares for cash
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