Riverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sume $112,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $194 per share. (Round answers to 0 decimal places, eg. $1,225. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles and Explanation Debit Credit (a)
Riverbed Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sume $112,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $194 per share. (Round answers to 0 decimal places, eg. $1,225. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles and Explanation Debit Credit (a)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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