Need assistance in preparing the entry for the issuance os stocks under the following assumptionsExercise 13-04 a-eConcord Corporation issued 4,250 shares of stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.)(a) The stock had a par value of $7 per share and was issued for a total of $51,000.(b) The stock had a stated value of $7 per share and was issued for a total of $51,000.(c) The stock had no par or stated value and was issued for a total of $51,000.(d) The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000.(e) The stock had a par value of $7 per share and was issued for land worth $51,000. Exercise 13-04 a-eConcord Corporation issued 4,250 shares of stock.Prepare the entry for the issuance under the following assumptions.(a) The stock had a par value of $7 per share and was issued for a total of $51,000.(b) The stock had a stated value of $7 per share and was issued for a total of $51,000.(c) The stock had no par or stated value and was issued for a total of $51,000.(d) The stock had a par value of $7 per share and was issued to attorneys for services duringincorporation valued at $51,000.(e) The stock had a par value of $7 per share and was issued for land worth $51,000.No. Account Titles and ExplanationDebitCredit(a)(b)(c)(d)(e)LLL!

Accounts title and Explanation Debit Credit a Cash $51,000 Common Stock (4,250 x $7)…

Answered: Exercise 13-04 a-e Concord Corporation…

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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Exercise 13-04 a-e

Concord Corporation issued 4,250 shares of stock.

Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.)

(a)		The stock had a par value of $7 per share and was issued for a total of $51,000.
(b)		The stock had a stated value of $7 per share and was issued for a total of $51,000.
(c)		The stock had no par or stated value and was issued for a total of $51,000.
(d)		The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000.
(e)		The stock had a par value of $7 per share and was issued for land worth $51,000.

Exercise 13-04 a-e
Concord Corporation issued 4,250 shares of stock.
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a par value of $7 per share and was issued for a total of $51,000.
(b) The stock had a stated value of $7 per share and was issued for a total of $51,000.
(c) The stock had no par or stated value and was issued for a total of $51,000.
(d) The stock had a par value of $7 per share and was issued to attorneys for services during
incorporation valued at $51,000.
(e) The stock had a par value of $7 per share and was issued for land worth $51,000.
No. Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
(d)
(e)
LLL!

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