Prepare entries for memorandum and journal entry method Matt corporation, on april 1, was authorized to issue 150,000 shares of no par value common stock. A stated value of 50 was decided upon by th board of directors. The following transactions took place during the first year of operation. Apr. 1 Sold for cash 40,000 shares to the incorporators at the stated value Apr. 30 Issued 300 shares to Mark's attorney for 19,500 legal work related to its corporate start-up and formation
Prepare entries for memorandum and journal entry method Matt corporation, on april 1, was authorized to issue 150,000 shares of no par value common stock. A stated value of 50 was decided upon by th board of directors. The following transactions took place during the first year of operation. Apr. 1 Sold for cash 40,000 shares to the incorporators at the stated value Apr. 30 Issued 300 shares to Mark's attorney for 19,500 legal work related to its corporate start-up and formation
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...
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Prepare entries for memorandum and
Matt corporation, on april 1, was authorized to issue 150,000 shares of no par value common stock. A stated value of 50 was decided upon by th board of directors. The following transactions took place during the first year of operation.
Apr. 1 Sold for cash 40,000 shares to the incorporators at the stated value
Apr. 30 Issued 300 shares to Mark's attorney for 19,500 legal work related to its corporate start-up and formation
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