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Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000.

Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000.

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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Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000. (d) The stock had a par value of $5 per share and was issued for land worth $65,000.
Transcribed Image Text:Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000. (d) The stock had a par value of $5 per share and was issued for land worth $65,000.
Date Account Titles and Explanation Debit Credit (a) (b) (c) (d)
Transcribed Image Text:Date Account Titles and Explanation Debit Credit (a) (b) (c) (d)
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