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Use the following information for #4 - 5: Motown Corporation has the following transactions: Common shares issued Par value per share Share issue costs in total Date issued/purchased Purchased for per share $ $ $ 123,680 1.00 56,900 1/1/X1 33.00 4.) Consider the required journal entrie(s). What is the NET CREDIT amount that goes to the Paid in Capital account. Page 1 of 2 5.) Consider the required journal entrie(s). What is the TOTAL impact on stockholder's equity from all journal entries?

Use the following information for #4 - 5: Motown Corporation has the following transactions: Common shares issued Par value per share Share issue costs in total Date issued/purchased Purchased for per share $ $ $ 123,680 1.00 56,900 1/1/X1 33.00 4.) Consider the required journal entrie(s). What is the NET CREDIT amount that goes to the Paid in Capital account. Page 1 of 2 5.) Consider the required journal entrie(s). What is the TOTAL impact on stockholder's equity from all journal entries?

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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Use the following information for #4 - 5: Motown Corporation has the following transactions: Common shares issued Par value per share Share issue costs in total Date issued/purchased Purchased for per share $ $ $ 123,680 1.00 56,900 1/1/X1 33.00 4.) Consider the required journal entrie(s). What is the NET CREDIT amount that goes to the Paid in Capital account. Page 1 of 2 5.) Consider the required journal entrie(s). What is the TOTAL impact on stockholder's equity from all journal entries?
Transcribed Image Text:Use the following information for #4 - 5: Motown Corporation has the following transactions: Common shares issued Par value per share Share issue costs in total Date issued/purchased Purchased for per share $ $ $ 123,680 1.00 56,900 1/1/X1 33.00 4.) Consider the required journal entrie(s). What is the NET CREDIT amount that goes to the Paid in Capital account. Page 1 of 2 5.) Consider the required journal entrie(s). What is the TOTAL impact on stockholder's equity from all journal entries?
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