June 7 Issued 4,000 shares of $3 par value common stock for cash of $12 per share Aug. 16 Issued 400 shares of no-par preferred stock for $25,000 cash Sept. 19 Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock Hi, I'm not totally positive on how to journal these entries
June 7 Issued 4,000 shares of $3 par value common stock for cash of $12 per share Aug. 16 Issued 400 shares of no-par preferred stock for $25,000 cash Sept. 19 Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock Hi, I'm not totally positive on how to journal these entries
Foundations of Business (MindTap Course List)
6th Edition
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter15: Using Management And Accounting Information
Section: Chapter Questions
Problem 4DQ
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June 7 |
Issued 4,000 shares of $3 par value common stock for cash of $12 per share |
Aug. 16 |
Issued 400 shares of no-par |
Sept. 19 |
Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock |
Hi, I'm not totally positive on how to
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