Rodriguez Corporation issues 9,000 shares of its common stock for $59,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $2 par value. 2. The stock has neither par nor stated value. 3. The stock has a $1 stated value. View transaction list View journal entry worksheet Transaction No A B с 2 3 Cash Common stock, $2 par value Paid-in capital in excess of par value, common stock Cash Common stock, no-par value General Journal Cash Common stock, no-par value Debit 59,000 59,000 59,000 Credit 18,000 41,000 59,000 59,000 yang
Rodriguez Corporation issues 9,000 shares of its common stock for $59,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $2 par value. 2. The stock has neither par nor stated value. 3. The stock has a $1 stated value. View transaction list View journal entry worksheet Transaction No A B с 2 3 Cash Common stock, $2 par value Paid-in capital in excess of par value, common stock Cash Common stock, no-par value General Journal Cash Common stock, no-par value Debit 59,000 59,000 59,000 Credit 18,000 41,000 59,000 59,000 yang
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 42BE: Calculating the Number of Shares Issued Castanet Inc. issued shares of its $1. 50 par value common...
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Question
![Rodriguez Corporation issues 9,000 shares of its common stock for $59,000 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $2 par value.
2. The stock has neither par nor stated value.
3. The stock has a $1 stated value.
View transaction list View journal entry worksheet
I
"
No
A
B
с
Transaction.
2
3
Cash-
Common stock, $2 par value
Paid-in capital in excess of par value, common stock
Cash
Common stock, no-par value
Cash
General Journal
Common stock, no-par value
Debit
59,000
59,000
59,000
Credit
18,000
41,000
59,000
59,000
Lesenat](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdeaf82d8-7c13-47e8-9a82-92ef28c88de0%2F617f4e60-9293-4968-b2d8-28daeeeced53%2F5bxmoya_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Rodriguez Corporation issues 9,000 shares of its common stock for $59,000 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
1. The stock has a $2 par value.
2. The stock has neither par nor stated value.
3. The stock has a $1 stated value.
View transaction list View journal entry worksheet
I
"
No
A
B
с
Transaction.
2
3
Cash-
Common stock, $2 par value
Paid-in capital in excess of par value, common stock
Cash
Common stock, no-par value
Cash
General Journal
Common stock, no-par value
Debit
59,000
59,000
59,000
Credit
18,000
41,000
59,000
59,000
Lesenat
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