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During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at 58 per share. July 1

During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at 58 per share. July 1

FINANCIAL ACCOUNTING
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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(a) Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) (b) Date Account Titles and Explanation Show Transcribed Text 3 Date Account Titles and Explanation Ĉ Debit Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Debit Credit
Transcribed Image Text:(a) Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) (b) Date Account Titles and Explanation Show Transcribed Text 3 Date Account Titles and Explanation Ĉ Debit Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Debit Credit
During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at $8 per share. Jan. July 10 1
Transcribed Image Text:During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at $8 per share. Jan. July 10 1
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