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Following are the issuances of stock transactions. 1. A corporation Issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation Issued 1,000 shares of no-par common stock to Its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. 3. A corporation Issued 1.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has no stated value. 4. A corporation Issued 500 shares of $100 par value preferred stock for $105,500 cash.

Following are the issuances of stock transactions. 1. A corporation Issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation Issued 1,000 shares of no-par common stock to Its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. 3. A corporation Issued 1.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has no stated value. 4. A corporation Issued 500 shares of $100 par value preferred stock for $105,500 cash.

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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"aw 11 Journal entry worksheet < A 8 Record the issue of 2,000 shares of $20 par value common stock for $48,000 cash. Note: Enter debits before rect DA < saction Racord any C B D Journal entry worksheet ANTIIN Record entry General Journal D Clear entry SAMANTANETTOY Note: Enter debith bercire cre Transaction General Journal 13 Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55.500. The stock has no stated value Debit Credit Clear entry View general Journal Debit Credit View goneral Journal C' raw ME Journal entry worksheet < Transaction 2 B Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. BENDRUHTHOA Note: Enter dehis before credits Record entry View transaction et < A C Transaction 4 Journal entry worksheet B Record entry D C Note: Enter debits berore zradits.. A Jun General Journal Claar ondry Record the issue of 500 shares of $100 par value preferred stock for $105,500 cash. General Journal Debit Credit Clear entry View general journal Debit Credit View general journal <P
Transcribed Image Text:"aw 11 Journal entry worksheet < A 8 Record the issue of 2,000 shares of $20 par value common stock for $48,000 cash. Note: Enter debits before rect DA < saction Racord any C B D Journal entry worksheet ANTIIN Record entry General Journal D Clear entry SAMANTANETTOY Note: Enter debith bercire cre Transaction General Journal 13 Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55.500. The stock has no stated value Debit Credit Clear entry View general Journal Debit Credit View goneral Journal C' raw ME Journal entry worksheet < Transaction 2 B Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. BENDRUHTHOA Note: Enter dehis before credits Record entry View transaction et < A C Transaction 4 Journal entry worksheet B Record entry D C Note: Enter debits berore zradits.. A Jun General Journal Claar ondry Record the issue of 500 shares of $100 par value preferred stock for $105,500 cash. General Journal Debit Credit Clear entry View general journal Debit Credit View general journal <P
5 Required Information [The following information applies to the questions displayed below.] Following are the Issuances of stock transactions. 1. A corporation Issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. 3. A corporation Issued 1.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has no stated value. 4. A corporation Issued 500 shares of $100 par value preferred stock for $105,500 cash.
Transcribed Image Text:5 Required Information [The following information applies to the questions displayed below.] Following are the Issuances of stock transactions. 1. A corporation Issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has a $6 per share stated value. 3. A corporation Issued 1.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,500. The stock has no stated value. 4. A corporation Issued 500 shares of $100 par value preferred stock for $105,500 cash.
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