Search here for Tutorials

If the Data is different in your question, please send your questions to homeworksolutionsnow@gmail.com. The questions will be answered at the same price.

E13-3 Prepare journal entries to record the following four separate issuances of stock


ACC226 E13-3 Prepare journal entries to record the following four separate issuances of stock

Check Point: Recording and Calculating Stocks
Complete Exercises 13-3 on pp. 529 and 530.

13-3 Prepare journal entries                                                                          Click here for SOLUTION

Exercise 13-3 Prepare journal entries to record the following four separate issuances of stock:

1. Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has no stated value.

2. Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has a $1 per share stated value.

3. Four thousand shares of $10 par value common stock are issued for $70,000 cash.

4. One thousand Shares of $100 par value preferred stock are issued for $120,000 cash.
                                                                            CLICK HERE FOR SOLUTION

No comments: