
Issuance of Stock at par, stated and no-par: Par value and stated value are the value of a stock as mentioned in the issuing company’s charter. It is the minimum amount that must be paid per share and it’s the value which is printed on the share certificate. Shares could be exchanged for services to promoters, attorneys etc or purchasing Assets like land, building etc.
Requirment 1:
To determine:
Accounting entry for issuing shares 4000 at $5 per share for $35000 cash.
Requirement 2:
To determine:
Accounting entry for issuing shares in lieu of efforts put in by promoters.
Requirement 3:
To determine:
Accounting entry for issuing shares in lieu of efforts put in by promoters.
Requirement 4:
To determine:
Accounting entry for

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Chapter 13 Solutions
Loose Leaf for Fundamental Accounting Principles
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