Ex4 A Company Is Authorized To Issue 10 000 Shares Of 25 Par Value 12 Cumulative Fully Participating Preferred Stoc 1 (35.81 KiB) Viewed 33 times
Ex4 A Company Is Authorized To Issue 10 000 Shares Of 25 Par Value 12 Cumulative Fully Participating Preferred Stoc 2 (30.76 KiB) Viewed 33 times
Ex4: A company is authorized to issue 10,000 shares of $25 par value, 12% cumulative, fully participating preferred stock, and 300,000 shares of $3 par value common stock. Prepare journal entries that occurred during the company first year of operation: June 27th, Sold 2,000 shares of preferred stock for $25 per share. Nov 11st, Sold 1,500 shares of preferred stock for $28 per share. Date Debit Credit
Exercise 13-3: Rodriguez Corporation issues 19,000 shares of its common stock for $152,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations LEARNING CENTER 1. The stock has a $2 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. Debit Credit Date
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