do not give solution in image format tsMcGrawClothing Frontiers began operations on January 1 and engages in the following transactionSstockholders' equity.1January 1 Issues 600 shares of common stock for $43 per share.April 1 Issues 100 additional shares of common stock for $47 per share.Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particulartransaction/event, select "No Journal Entry Required" in the first account field.)No2DateJanuary 01April 01OnCashAnswer is complete but not entirely correct.General JournalCommon StockAdditional Paid-in CapitalCashCommon StockAdditional Paid-in Capital< Prev23100***of 9Debit25,600 X4,300 xCreditthe year related to600 x25,000 x100 X4,200 xNext >DUI

The first step of accounting to record the transactions is said to be journal entries. The shares…

Answered: Clothing Frontiers began operations on…

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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Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity. January 1 Issues 700 shares of common stock for $50 per share. April 1 Issues 110 additional shares of common stock for $54 per share. Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $31 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Western Wear Clothing issues 1,000 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $13 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the issuance of common stock. Note: Enter debits before credits. Debit Credit Transaction 1 View general journal Record entry General Journal Clear entry
Western Wear Clothing issues 1,300 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $13 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the issuance of common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit 1
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Required information [The following information applies to the questions displayed below.) Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 600 shares of common stock for $40 per share. April 1 Issues 188 additional shares of common stock for $44 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the issuance of 600 shares of common stock for $40 per share. Note: Enter debits before credits. Date January 01 Record entry General Journal Clear entry Debit Credit View general journal
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