Rodriguez Corporation issues 16,000 shares of its common stock for $87,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $4 par value. 2. The stock has neither par nor stated value. 3. The stock has a $2 stated value. View transaction list Journal entry worksheet A B C Record the issue of 16,000 shares of $4 par value common stock for $87,800 cash. Note: Enter debits before credits. Transaction 1 Cash General Journal Common stock, $4 par value Paid-in capital in excess of par value, common stock Clear entry Record entry Debit Credit View general journal
Rodriguez Corporation issues 16,000 shares of its common stock for $87,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $4 par value. 2. The stock has neither par nor stated value. 3. The stock has a $2 stated value. View transaction list Journal entry worksheet A B C Record the issue of 16,000 shares of $4 par value common stock for $87,800 cash. Note: Enter debits before credits. Transaction 1 Cash General Journal Common stock, $4 par value Paid-in capital in excess of par value, common stock Clear entry Record entry Debit Credit View general journal
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 12MC: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting...
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![Rodriguez Corporation issues 16,000 shares of its common stock for $87,800 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $4 par value.
2. The stock has neither par nor stated value.
3. The stock has a $2 stated value.
View transaction list
Journal entry worksheet
A
B
C
Record the issue of 16,000 shares of $4 par value common stock for $87,800
cash.
Note: Enter debits before credits.
Transaction
1
Cash
General Journal
Common stock, $4 par value
Paid-in capital in excess of par value, common stock
Clear entry
Record entry
Debit
Credit
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d0973d1-2f95-4beb-ba13-964378c01bf9%2F947f3e41-2fc0-42d9-b3ec-dbb6c65403c0%2Fm2dr2ej_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Rodriguez Corporation issues 16,000 shares of its common stock for $87,800 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $4 par value.
2. The stock has neither par nor stated value.
3. The stock has a $2 stated value.
View transaction list
Journal entry worksheet
A
B
C
Record the issue of 16,000 shares of $4 par value common stock for $87,800
cash.
Note: Enter debits before credits.
Transaction
1
Cash
General Journal
Common stock, $4 par value
Paid-in capital in excess of par value, common stock
Clear entry
Record entry
Debit
Credit
View general journal
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