Week 5: Corporations • Due by the end of Week 5 at 11:59 pm, ET. It's the end of the month, and the owner is concerned about unlimited liability being a sole proprietorship. Therefore, the company is converting to a corporation. The owner will receive 1,000 shares of $75 par common stock for the original investment. Do the required entry and post to the general ledger using the excel templates provided.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Week 5: Corporations
• Due by the end of Week 5 at 11:59 pm, ET.
It's the end of the month, and the owner is concerned about unlimited liability being a sole
proprietorship. Therefore, the company is converting to a corporation. The owner will receive
1,000 shares of $75 par common stock for the original investment. Do the required entry and
post to the general ledger using the excel templates provided.
Transcribed Image Text:Week 5: Corporations • Due by the end of Week 5 at 11:59 pm, ET. It's the end of the month, and the owner is concerned about unlimited liability being a sole proprietorship. Therefore, the company is converting to a corporation. The owner will receive 1,000 shares of $75 par common stock for the original investment. Do the required entry and post to the general ledger using the excel templates provided.
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