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Environmental Designs issues 6,000 shares of its $1 par value common stock at $12 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1. Record the issuance of the stock. 2. Record the issuance of the stock assuming it is no-par value stock. Options:   No Journal Entry Required Accounts Payable Accounts Receivable Additional Paid-in Capital Advertising Expense Bonds Payable Cash Common Stock Delivery Expense Dividends Entertainment Expense Gain Interest Expense Interest Receivable Interest Revenue Loss Notes Payable Notes Receivable Preferred Stock Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries Expense Sales Revenue Service Fee Expense Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Utilities Expense

Environmental Designs issues 6,000 shares of its $1 par value common stock at $12 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1. Record the issuance of the stock. 2. Record the issuance of the stock assuming it is no-par value stock. Options:   No Journal Entry Required Accounts Payable Accounts Receivable Additional Paid-in Capital Advertising Expense Bonds Payable Cash Common Stock Delivery Expense Dividends Entertainment Expense Gain Interest Expense Interest Receivable Interest Revenue Loss Notes Payable Notes Receivable Preferred Stock Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries Expense Sales Revenue Service Fee Expense Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Utilities Expense

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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Environmental Designs issues 6,000 shares of its $1 par value common stock at $12 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

1. Record the issuance of the stock.

2. Record the issuance of the stock assuming it is no-par value stock.

Options:

  •  
  • No Journal Entry Required
  • Accounts Payable
  • Accounts Receivable
  • Additional Paid-in Capital
  • Advertising Expense
  • Bonds Payable
  • Cash
  • Common Stock
  • Delivery Expense
  • Dividends
  • Entertainment Expense
  • Gain
  • Interest Expense
  • Interest Receivable
  • Interest Revenue
  • Loss
  • Notes Payable
  • Notes Receivable
  • Preferred Stock
  • Rent Expense
  • Repairs and Maintenance Expense
  • Retained Earnings
  • Salaries Expense
  • Sales Revenue
  • Service Fee Expense
  • Service Revenue
  • Stock Dividends
  • Supplies
  • Supplies Expense
  • Treasury Stock
  • Utilities Expense
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