Just letter C and D Cash56,000Common Stock10,000Pald-In Capital in Excess of Par-Common Stock46,000b. Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. If an amount box dcblank.c. Purchased 100 shares of treasury stock at $25. If an amount box does not require an entry, leave it blank.d. Sold the 100 shares of treasury stock purchased in (c) at $30. If an amount box does not require an entry, leave it blank.

C. Purchased 100 shares of treasury stock at $25. If an amount box does not require an entry, leave it blank. d. Sold the 100 shares of treasury stock purchased in (c) at $30. If an amount box does not require an entry, leave it blank.

C. Purchased 100 shares of treasury stock at $25. If an amount box does not require an entry, leave it blank. d. Sold the 100 shares of treasury stock purchased in (c) at $30. If an amount box does not require an entry, leave it blank.

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

Just letter C and D

Cash
56,000
Common Stock
10,000
Pald-In Capital in Excess of Par-Common Stock
46,000
b. Issued 1,400 shares of $10 par common stock in exchange for equipment with a fair market price of $21,000. If an amount box dc
blank.
c. Purchased 100 shares of treasury stock at $25. If an amount box does not require an entry, leave it blank.
d. Sold the 100 shares of treasury stock purchased in (c) at $30. If an amount box does not require an entry, leave it blank.

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Journal entries are used to record the transactions of the business in chronological order.

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