- Prepare The Issuer S Journal Entry For Each Of The Following Separate Transactions O On March 1 Atlantic Co Issues 50 1 (34.65 KiB) Viewed 40 times
Prepare the issuer's journal entry for each of the following separate transactions o. On March 1, Atlantic Co issues 50.000 shares of $5 par value common stock for $320,000 cash b. On April 1. OP Co. Issues no par value common stock for $85,000 cash c. on April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable View transaction list View journal entry worksheet No Transaction General Journal Credit Debit 320,000 1 a Cash Common stock, S5 par value Paid in capital in excess of par value, common stock 250,000 70,000 2 b 85.000 Cash Common stock, 51 par value 85,000 3 Inventory Machinery Note payable Common stock, $25 par value Paid-in capital in excess of par value, common stock 54,000 160,000 90,000 87,500 216,500