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Rodriguez Corporation issues 14,000 shares of its common stock for $237,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet A B Record the issue of 14,000 shares of $8 stated value common stock for $237,500 cash. Note: Enter debits before credits. Transaction 3 Record entry General Journal Clear entry Debit Credit View general Journal

Rodriguez Corporation issues 14,000 shares of its common stock for $237,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet A B Record the issue of 14,000 shares of $8 stated value common stock for $237,500 cash. Note: Enter debits before credits. Transaction 3 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 14,000 shares of its common stock for $237,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet A B Record the issue of 14,000 shares of $8 stated value common stock for $237,500 cash. Transaction 3 C Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general Journal
Transcribed Image Text:Rodriguez Corporation issues 14,000 shares of its common stock for $237,500 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet A B Record the issue of 14,000 shares of $8 stated value common stock for $237,500 cash. Transaction 3 C Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general Journal
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