Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 10,000 shares of its common stock for $144,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $10 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. View transaction list Journal entry worksheet < A B Record the issue of 10,000 shares of $10 par value common stock for $144,600 cash. Transaction 1 с Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 10,000 shares of its common stock for $144,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $10 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. View transaction list Journal entry worksheet < A B Record the issue of 10,000 shares of $10 par value common stock for $144,600 cash. Transaction 1 с Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1
Rodriguez Corporation issues 10,000 shares of its common stock for $144,600 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $10 par value.
2. The stock has neither par nor stated value.
3. The stock has a $5 stated value.
View transaction list
Journal entry worksheet
A
B
Record the issue of 10,000 shares of $10 par value common stock for
$144,600 cash.
Transaction
1
с
Note: Enter debits before credits.
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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