Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $164,000 cash. View transaction list Journal entry worksheet A C D Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit
Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $164,000 cash. View transaction list Journal entry worksheet A C D Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...
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