Zedus Corp P11 par value common stock is actively traded at a market price of P14 pershare.It issues 4,700 shares to purchase land advertised for sale at P71,000.Journalize the issuance of the stock in acquiring the land.

Here in this case we are require to make entry for the acquisition of land. When we purchase any…

Answered: Zedus Corp P11 par value common stock…

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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Required information Exercise 10-3 (Algo) Record the issuance of common stock (LO10-2) Skip to question [The following information applies to the questions displayed below.] Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity. January 1 Issues 600 shares of common stock for $32 per share. April 1 Issues 100 additional shares of common stock for $36 per share. Exercise 10-3 (Algo) Part 1 Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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Zedus Corp P11 par value common stock is actively traded at a market price of P14 per share. It issues 4,700 shares to purchase land advertised for sale at P71,000. Journalize the issuance of the stock in acquiring the land.