Rodriguez Corporation issues 19,000 shares of its common stock for $125,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. The stock has a $4 par value. The stock has neither par nor stated value. The stock has a $2 stated value. Please complete the following: A. Record the issue of 19,000 shares of $4 par value common stock for $125,800 cash. B. Record the issue of 19,000 shares of no-par, no-stated value common stock for $125,800 cash. C. Record the issue of 19,000 shares of $2 stated value common stock for $125,800 cash.
Rodriguez Corporation issues 19,000 shares of its common stock for $125,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. The stock has a $4 par value. The stock has neither par nor stated value. The stock has a $2 stated value. Please complete the following: A. Record the issue of 19,000 shares of $4 par value common stock for $125,800 cash. B. Record the issue of 19,000 shares of no-par, no-stated value common stock for $125,800 cash. C. Record the issue of 19,000 shares of $2 stated value common stock for $125,800 cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Rodriguez Corporation issues 19,000 shares of its common stock for $125,800 cash on February 20. Prepare
- The stock has a $4 par value.
- The stock has neither par nor stated value.
- The stock has a $2 stated value.
Please complete the following:
A. Record the issue of 19,000 shares of $4 par value common stock for $125,800 cash.
B. Record the issue of 19,000 shares of no-par, no-stated value common stock for $125,800 cash.
C. Record the issue of 19,000 shares of $2 stated value common stock for $125,800 cash.
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