(a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (b) The stock had a stated value of $5.25 per share and was issued for a total of $46,500. (c) The stock had no par or stated value and was issued for a total of $46,500. A (d) The stock had a par value of $5.25 per share and was issued to attorneys for services
(a) The stock had a par value of $5.25 per share and was issued for a total of $46,500. (b) The stock had a stated value of $5.25 per share and was issued for a total of $46,500. (c) The stock had no par or stated value and was issued for a total of $46,500. A (d) The stock had a par value of $5.25 per share and was issued to attorneys for services
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Question
Flint Corporation issued 1,900 shares of stock.
Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account
titles are automatically indented when amount is entered. Do not indent manually.)
(a)
The stock had a par value of $5.25 per share and was issued for a total of $46,500.
(b)
The stock had a stated value of $5.25 per share and was issued for a total of $46,500.
(c)
The stock had no par or stated value and was issued for a total of $46,500.
A
(d)
The stock had a par value of $5.25 per share and was issued to attorneys for services during incorporation valued at $46,500.
(e)
The stock had a par value of $5.25 per share and was issued for land worth $46.500.
Transcribed Image Text:No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
(d)
(e)
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4.
6.
7
R
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W
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