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Saint ACC202 module 1 quiz

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Question;1.;value:20.00 points;Rodriguez;Corporation issues 9,000 shares of its common stock for $139,200 cash on;February 20.;1.;Assume;the stock has a $14 par value. Prepare journal entries to record this event.;2.;Assume;the stock has neither par nor stated value. Prepare journal entries to record;this event.;3.;Assume;the stock has an $7 stated value. Prepare journal entries to record this;event.;2.;value:10.00 points;1.;A;corporation issued 8,000 shares of $20 par value common stock for $192,000;cash.;View Hint #1ebook & resources;3.;value:10.00 points;2.;A;corporation issued 4,000 shares of no-par common stock to its promoters in;exchange for their efforts, estimated to be worth $22,000. The stock has a $1;per share stated value.;View Hint #1ebook & resources;4.;value:5.00 points;3.;A;corporation issued 4,000 shares of no-par common stock to its promoters in;exchange for their efforts, estimated to be worth $22,000. The stock has no;stated value.;View Hint #1ebook & resources;5.;value:5.00 points;4.;A;corporation issued 2,000 shares of $75 par value preferred stock for $172,000;cash.

 

Paper#39339 | Written in 18-Jul-2015

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