Rodriguez Corporation issues 11,000 shares of its common stock for $133,700 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $10 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 4RE: Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling...
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A
B
C
Record the issue of 11,000 shares of $10 par value
common stock for $133,700 cash.
Record the issue of 11,000 shares of no-par, no-stated
value common stock for $133,700 cash.
Record the issue of 11,000 shares of $5 stated value
common stock for $133,700 cash.
Transcribed Image Text:A B C Record the issue of 11,000 shares of $10 par value common stock for $133,700 cash. Record the issue of 11,000 shares of no-par, no-stated value common stock for $133,700 cash. Record the issue of 11,000 shares of $5 stated value common stock for $133,700 cash.
Rodriguez Corporation issues 11,000 shares of its common stock for $133,700 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $10 par value.
2. The stock has neither par nor stated value.
3. The stock has a $5 stated value.
View transaction list
Journal entry worksheet
A
Record the issue of 11,000 shares of $10 par value common stock for
$133,700 cash.
в с
Note: Enter debits before credits.
Transaction
1
Record entry
General Journal
Clear entry
Debit Credit
View general journal
>
Transcribed Image Text:Rodriguez Corporation issues 11,000 shares of its common stock for $133,700 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $10 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. View transaction list Journal entry worksheet A Record the issue of 11,000 shares of $10 par value common stock for $133,700 cash. в с Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal >
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