Concord Corporation issued 2,750 shares of stock. Prepare the entry for the issuance under the following assumptions.(a) The stock had a par value of $ 4.75 per share and was issued for a total of $ 45,000. (b) The stock had a stated value of $ 4.75 per share and was issued for a total of $ 45,000. (c) The stock had no par or stated value and was issued for a total of $ 45,000. (d) The stock had a par value of $ 4.75 per share and was issued to attorneys for services during incorporation valued at $ 45,000. ( e) The stock had a par value of $ 4.75 per share and was issued for land worth $ 45,000. No. Account Titles and Explanation (a) Debit Credit (b) (c) (d) (e)
Concord Corporation issued 2,750 shares of stock. Prepare the entry for the issuance under the following assumptions.(a) The stock had a par value of $ 4.75 per share and was issued for a total of $ 45,000. (b) The stock had a stated value of $ 4.75 per share and was issued for a total of $ 45,000. (c) The stock had no par or stated value and was issued for a total of $ 45,000. (d) The stock had a par value of $ 4.75 per share and was issued to attorneys for services during incorporation valued at $ 45,000. ( e) The stock had a par value of $ 4.75 per share and was issued for land worth $ 45,000. No. Account Titles and Explanation (a) Debit Credit (b) (c) (d) (e)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 115.
Transcribed Image Text:Concord Corporation issued 2,750 shares of stock. Prepare the entry for the issuance under the following assumptions.(a) The stock had a par value of $ 4.75 per share
and was issued for a total of $ 45,000. (b) The stock had a stated value of $ 4.75 per share and was issued for a total of $ 45,000. (c) The stock had no par or stated value
and was issued for a total of $ 45,000. (d) The stock had a par value of $ 4.75 per share and was issued to attorneys for services during incorporation valued at $ 45,000. (
e) The stock had a par value of $ 4.75 per share and was issued for land worth $ 45,000.
Transcribed Image Text:No. Account Titles and Explanation
(a)
Debit
Credit
(b)
(c)
(d)
(e)
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