Blue Spruce Corporation issued 2,850 shares of stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.) (a) The stock had a par value of $10 per share and was issued for a total of $56,500. (b) The stock had a stated value of $10 per share and was issued for a total of $56,500. (c) The stock had no par or stated value and was issued for a total of $56,500. (d) The stock had a par value of $10 per share and was issued to attorneys for services during incorporation valued at $56,500. (e) The stock had a par value of $10 per share and was issued for land worth $56,500
Blue Spruce Corporation issued 2,850 shares of stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.) (a) The stock had a par value of $10 per share and was issued for a total of $56,500. (b) The stock had a stated value of $10 per share and was issued for a total of $56,500. (c) The stock had no par or stated value and was issued for a total of $56,500. (d) The stock had a par value of $10 per share and was issued to attorneys for services during incorporation valued at $56,500. (e) The stock had a par value of $10 per share and was issued for land worth $56,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Blue Spruce Corporation issued 2,850 shares of stock.
Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.)
| (a) | The stock had a par value of $10 per share and was issued for a total of $56,500. | |
| (b) | The stock had a stated value of $10 per share and was issued for a total of $56,500. | |
| (c) | The stock had no par or stated value and was issued for a total of $56,500. | |
| (d) | The stock had a par value of $10 per share and was issued to attorneys for services during incorporation valued at $56,500. | |
| (e) | The stock had a par value of $10 per share and was issued for land worth $56,500 |
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