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Prepare journal entries to record the following selected transactions. January 10 Issued 121,000 shares of $2 par value common stock for $7 cash per share. January 15 Issued 11,900 shares of $2 par value common stock in exchange for equipment with a market value of $89,000. February 1 Issued 600 shares of $2 par value common stock to its promoters in exchange for their efforts, estimated to be worth $4,900. View transaction list Journal entry worksheet < A в с Issued 121,000 shares of $2 par value common stock for $7 cash per share. Note: Enter debits before credits Date January 10 General Journal Debit Credit

Prepare journal entries to record the following selected transactions. January 10 Issued 121,000 shares of $2 par value common stock for $7 cash per share. January 15 Issued 11,900 shares of $2 par value common stock in exchange for equipment with a market value of $89,000. February 1 Issued 600 shares of $2 par value common stock to its promoters in exchange for their efforts, estimated to be worth $4,900. View transaction list Journal entry worksheet < A в с Issued 121,000 shares of $2 par value common stock for $7 cash per share. Note: Enter debits before credits Date January 10 General Journal Debit Credit

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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Prepare journal entries to record the following selected transactions. January 10 Issued 121,000 shares of $2 par value common stock for $7 cash per share.. January 15 Issued 11,900 shares of $2 par value common stock in exchange for equipment with a market value of $89,000. February 1 Issued 600 shares of $2 par value common stock to its promoters in exchange for their efforts, estimated to be worth $4,900. View transaction list Journal entry worksheet < A в с Issued 121,000 shares of $2 par value common stock for $7 cash per share. Note: Enter debits before credits. Date January 10 General Journal Debit Credit
Transcribed Image Text:Prepare journal entries to record the following selected transactions. January 10 Issued 121,000 shares of $2 par value common stock for $7 cash per share.. January 15 Issued 11,900 shares of $2 par value common stock in exchange for equipment with a market value of $89,000. February 1 Issued 600 shares of $2 par value common stock to its promoters in exchange for their efforts, estimated to be worth $4,900. View transaction list Journal entry worksheet < A в с Issued 121,000 shares of $2 par value common stock for $7 cash per share. Note: Enter debits before credits. Date January 10 General Journal Debit Credit
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