During its first year of operations, Bramble Corporation had the following transactions pertaining to its common stock.
Posted: Sun Jul 03, 2022 1:14 pm
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During its first year of operations, Bramble Corporation had the following transactions pertaining to its common stock. Jan. 10 July 1 (a) Issued 67,000 shares for cash at $7 per share. Issued 41,000 shares for cash at $9 per share.
Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 10 V July 1 V Account Titles and Explanation Cash Common Stock Cash Common Stock Debit 469,000.00 369,000.00 Credit 134,000,00 82,000.00
July 1 V Cash Common Stock Paid-in Capital in Excess of Par-Common Stock e Textbook and Media 369,000.00 82.000.00 287,000.00
(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit
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