During its first year of operations, Skysong Corporation had the following transactions pertaining to its common stock. Jan. 10 Mar. 1 July 1 Issued 32,200 shares for cash at $8 per share. Sept. 1 Issued 63,700 shares for cash at $10 per share. Issued 84,500 shares for cash at $6 per share. Issued 5,000 shares to attorneys in payment of a bill for $35,300 for services rendered in helping the company to incorporate. Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 10 Account Titles and Explanation Cash Debit Credit

During its first year of operations, Skysong Corporation had the following transactions pertaining to its common stock. Jan. 10 Mar. 1 July 1 Issued 32,200 shares for cash at $8 per share. Sept. 1 Issued 63,700 shares for cash at $10 per share. Issued 84,500 shares for cash at $6 per share. Issued 5,000 shares to attorneys in payment of a bill for $35,300 for services rendered in helping the company to incorporate. Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 10 Account Titles and Explanation Cash Debit Credit

Name: P.037.Subject :- Accounting During its first year of operations, Skys
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Description: P.037.Subject :- Accounting During its first year of operations, Skysong Corporation had the following transactions pertaining to its common stock.Jan. 10Mar. 1July 1Issued 32,200 shares for cash at $8 per share.Sept. 1 Issued 63,700 shares for cash

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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