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gue this event under each of the following separate situations. 1. The stock has a $8 par value. 2. The stock has neither par nor stated value. 3. The stock has a $4 stated value. View transaction list

gue this event under each of the following separate situations. 1. The stock has a $8 par value. 2. The stock has neither par nor stated value. 3. The stock has a $4 stated value. View transaction list

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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Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO PI Rodriquez Corporation issues 8,000 shares of its common stock for $80,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $8 par value. 2. The stock has neither par nor stated value. 3. The stock has a $4 stated value. t5932 View transaction list Book Journal entry worksheet <> A B Record the issue of 8,000 shares of $8 par value common stock for $80,600 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Mc Graw Hill 1 of 7 E Prey Next > pe here to search 99+ D 69°F Cloudy 3 5 E RI Y U H. K 5. IN
Transcribed Image Text:Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO PI Rodriquez Corporation issues 8,000 shares of its common stock for $80,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $8 par value. 2. The stock has neither par nor stated value. 3. The stock has a $4 stated value. t5932 View transaction list Book Journal entry worksheet <> A B Record the issue of 8,000 shares of $8 par value common stock for $80,600 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Mc Graw Hill 1 of 7 E Prey Next > pe here to search 99+ D 69°F Cloudy 3 5 E RI Y U H. K 5. IN
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