Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet 2 3 Record the issue of 12,000 shares of $16 par value common stock for $236,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
Rodriguez Corporation issues 12,000 shares of its common stock for $236,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. View transaction list Journal entry worksheet 2 3 Record the issue of 12,000 shares of $16 par value common stock for $236,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 5PA: Copper Corporation was organized in May. It is authorized to issue 50,000,000 shares of $200 par...
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