Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) The stock had a par value of $6.25 per share and was issued for a total of $52,000. (b) The stock had a stated value of $6.25 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 $6.25 per share and was issued to attorneys for services during incorporation valued at $52.000 The stock had a par value of $6.25 per share and was issued for land worth $52,000. (ee)
Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) The stock had a par value of $6.25 per share and was issued for a total of $52,000. (b) The stock had a stated value of $6.25 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 $6.25 per share and was issued to attorneys for services during incorporation valued at $52.000 The stock had a par value of $6.25 per share and was issued for land worth $52,000. (ee)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Monty Corporation issued 2.900 shares of stock.
Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account titles are
automatically indented when amount is entered. Do not indent manually)
(a)
(b)
(c)
(d)
(e)
The stock hada par value of $6.25 per share and was issued for a total of $52,000.
The stock had a stated value of $6.25 per share and was issued for a total of $52.000.
The stock had no par or stated value and was issued for a total of $52,000.
The stock had a par value of $6.25 per share and was issued to attorneys for services during incorporation valued at $52,000.
The stock had a par value of $6.25 per share and was issued for land worth $52,000.
No. Account Titles and Explanation
(a)
Debit
Credit
Transcribed Image Text:€
€
()
(9)
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