Please answer competely The charter of Dogwood Corporation authorizos the issuance of 1,000 shares of preferred stock and 2,600 shares of common stock. During a two-month period.Dogwood compleled these stock-issuance transactionis:(Cick the icon to view the transactions)Read the requirementsRequirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry lable.)Mar. 23: Issued 210 shares of $1 par value common stock for cash of $10 per share.DateAccounts and ExplanationDebitCreditMar. 23Cash2,100Common Stock-$1 Par Value210Paid-in Capital in Excess of Par--Common1,890Issued common stock for cash.Apr. 12: Received inventory with a market value of $26,000 and equipment with a market value of $20,000 for 340 shares of the $1 par value common stockDateAccounts and ExplanationDebitCreditApr. 12

Any amount received in excess of par value of a share is known as paid-in capital in Excess of Par.…

The charter of Dogwood Corporation authorizes the issuance of 1,000 shares of preferred stock and 2.600 shares of common stock During a two-month period. Dogwood completed these stock-issuance transactions (Click the icon to view the transactions) Read the reguirements Requirement 1. Record the transactions in the general journal. (Record debits first, then credits Select the explanation on the last line of the joumal entry tabie) Mar. 23 issued 210 shares of $1 par value common stock for cash of $10 per share Date Accounts and Explanation Debit Credit Mar. 23 Cash 2,100 Common Stock-$1 Par Value 210 Paid-in Capital in Excess of Par-Common 1,90 Issued common stock for cash. Apr. 12: Received inventory with a market value of $20,000 and equipment with a market value of $20,000 for 340 shares of the $1 par value common stock Date Accounts and Explanation Debit Credit Apr. 12

The charter of Dogwood Corporation authorizes the issuance of 1,000 shares of preferred stock and 2.600 shares of common stock During a two-month period. Dogwood completed these stock-issuance transactions (Click the icon to view the transactions) Read the reguirements Requirement 1. Record the transactions in the general journal. (Record debits first, then credits Select the explanation on the last line of the joumal entry tabie) Mar. 23 issued 210 shares of $1 par value common stock for cash of $10 per share Date Accounts and Explanation Debit Credit Mar. 23 Cash 2,100 Common Stock-$1 Par Value 210 Paid-in Capital in Excess of Par-Common 1,90 Issued common stock for cash. Apr. 12: Received inventory with a market value of $20,000 and equipment with a market value of $20,000 for 340 shares of the $1 par value common stock Date Accounts and Explanation Debit Credit Apr. 12

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...

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