Computer Solutions’ success in the fourth quarter of 2022 has attracted the attention of David Wright, who considered investing in the company. A price of $15 per share was offered by Ramona, which David accepted (a great way to start out the new year). The following transactions occurred between January 1 and January 31, 2023, and need to be recorded in the general journal. Based on the initial success of Computer Solutions, David Wright invested an additional $15,000 cash in the company in exchange for 1,000 shares of the Company’s $10 par value common stock. (Reminder: anything paid in excess of par goes to Paid in Capital in Excess of Par. Can someone please help me with the general journal entry for this problem?

Computer Solutions’ success in the fourth quarter of 2022 has attracted the attention of David Wright, who considered investing in the company. A price of $15 per share was offered by Ramona, which David accepted (a great way to start out the new year). The following transactions occurred between January 1 and January 31, 2023, and need to be recorded in the general journal. Based on the initial success of Computer Solutions, David Wright invested an additional $15,000 cash in the company in exchange for 1,000 shares of the Company’s $10 par value common stock. (Reminder: anything paid in excess of par goes to Paid in Capital in Excess of Par. Can someone please help me with the general journal entry for this problem?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 52P

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