Instructions Osage Corporation issued 2,000 shares of stock. Prepare the entry for the issuance under the following independent assumptions. a. The stock had a par value of $5 per share and was issued for a total of $52,000. b. The stock had a stated value of $5 per share and was issued for a total of $52,000. C. The stock had no par or stated value and was issued for a total of $52,000. d. The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $52,000. e. The stock had a par value of $5 per share and was issued for land worth $52,000.

Instructions Osage Corporation issued 2,000 shares of stock. Prepare the entry for the issuance under the following independent assumptions. a. The stock had a par value of $5 per share and was issued for a total of $52,000. b. The stock had a stated value of $5 per share and was issued for a total of $52,000. C. The stock had no par or stated value and was issued for a total of $52,000. d. The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $52,000. e. The stock had a par value of $5 per share and was issued for land worth $52,000.

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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