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Rodriguez Corporation issues 11,000 shares of its common stock for $156,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet < A B C Record the issue of 11,000 shares of $12 par value common stock for $156,500 cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal

Rodriguez Corporation issues 11,000 shares of its common stock for $156,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet < A B C Record the issue of 11,000 shares of $12 par value common stock for $156,500 cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal

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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Rodriguez Corporation issues 11,000 shares of its common stock for $156,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet < A B C Record the issue of 11,000 shares of $12 par value common stock for $156,500 cash. Note: Enter debits before credits. Transaction 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 $156,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. View transaction list Journal entry worksheet < A B C Record the issue of 11,000 shares of $12 par value common stock for $156,500 cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal
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