Exercise 13-04 a-e Concord Corporation issued 4,250 shares of stock. Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $7 per share and was issued for a total of $51,000. (b) The stock had a stated value of $7 per share and was issued for a total of $51,000. (c) The stock had no par or stated value and was issued for a total of $51,000. (d) The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000. (e) The stock had a par value of $7 per share and was issued for land worth $51,000. No. Account Titles and Explanation Debit Credit (a) (b) (c) (d) (e) LLL!

Exercise 13-04 a-e Concord Corporation issued 4,250 shares of stock. Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $7 per share and was issued for a total of $51,000. (b) The stock had a stated value of $7 per share and was issued for a total of $51,000. (c) The stock had no par or stated value and was issued for a total of $51,000. (d) The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000. (e) The stock had a par value of $7 per share and was issued for land worth $51,000. No. Account Titles and Explanation Debit Credit (a) (b) (c) (d) (e) LLL!

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...

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Exercise 13-04 a-e

Concord Corporation issued 4,250 shares of stock.

Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.)

(a)		The stock had a par value of $7 per share and was issued for a total of $51,000.
(b)		The stock had a stated value of $7 per share and was issued for a total of $51,000.
(c)		The stock had no par or stated value and was issued for a total of $51,000.
(d)		The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000.
(e)		The stock had a par value of $7 per share and was issued for land worth $51,000.

Exercise 13-04 a-e
Concord Corporation issued 4,250 shares of stock.
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a par value of $7 per share and was issued for a total of $51,000.
(b) The stock had a stated value of $7 per share and was issued for a total of $51,000.
(c) The stock had no par or stated value and was issued for a total of $51,000.
(d) The stock had a par value of $7 per share and was issued to attorneys for services during
incorporation valued at $51,000.
(e) The stock had a par value of $7 per share and was issued for land worth $51,000.
No. Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
(d)
(e)
LLL!

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