Record entries for each of the following separate issuances of stock. 1. Exchanged 2,350 shares of $50 par value preferred stock for a building with a market value of $150,000. 2. Issued 1,700 shares of $50 par value preferred stock for $50 cash per share. 3. Issued 1,150 shares of $50 par value preferred stock at $54 cash per share. View transaction list A Exchanged 2,350 shares of $50 par value preferred stock for a building with a market value of $150,000. B Issued 1,700 shares of $50 par value preferred stock for $50 cash per share. C Issued 1,150 shares of $50 par value preferred stock at $54 cash per share. Note : = = journal entry has been entered ***** EX g with a ebit Credit >

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...
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Record entries for each of the following separate issuances of stock.
1. Exchanged 2,350 shares of $50 par value preferred stock for a building with a market value of $150,000.
2. Issued 1,700 shares of $50 par value preferred stock for $50 cash per share.
3. Issued 1,150 shares of $50 par value preferred stock at $54 cash per share.
View transaction list
A Exchanged 2,350 shares of $50 par value preferred stock
for a building with a market value of $150,000.
B Issued 1,700 shares of $50 par value preferred stock for
$50 cash per share.
C
Issued 1,150 shares of $50 par value preferred stock at
$54 cash per share.
Note :
=
journal entry has been entered
X
g with a
ebit Credit
Transcribed Image Text:Record entries for each of the following separate issuances of stock. 1. Exchanged 2,350 shares of $50 par value preferred stock for a building with a market value of $150,000. 2. Issued 1,700 shares of $50 par value preferred stock for $50 cash per share. 3. Issued 1,150 shares of $50 par value preferred stock at $54 cash per share. View transaction list A Exchanged 2,350 shares of $50 par value preferred stock for a building with a market value of $150,000. B Issued 1,700 shares of $50 par value preferred stock for $50 cash per share. C Issued 1,150 shares of $50 par value preferred stock at $54 cash per share. Note : = journal entry has been entered X g with a ebit Credit
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