Issuing Shares-Recording transactions

Question

Nov 12, 2006, 09:11 PM

Daniuska

New Member

Join Date: Nov 2006

Posts: 1

Issuing Shares-Recording transactions

The Brazil Corporation was organized on January 1, 2005. It is authorized to issue 20,000 shares of 6%, $50 par preferred stock and 500,000 shares of no par common stock with a stated value of $1 per share. Record the following transactions:

10-Jan Issued 100,000 shares of common stock for cash at $3 per share
1-Mar Issued 10,000 shares of preferred stock for cash at $51 per share

help please!!

Answer this Question Ask about Accounting

Bookmarks

« Previous Thread | Next Thread »

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Sponsors

Similar Threads
Question	Asker	Forum	Answers	Last Post
issuing a check journal entry	egypngrl	Accounting	1	Oct 26, 2006 05:18 PM
Issuing Of Shares	sim99div	Accounting	0	Oct 10, 2006 10:53 AM
Recording stock transactions in T accounts	dhamrickrn77	Finance & Accounting	0	Sep 1, 2006 12:54 PM
Recording stock transactions in T accounts	dhamrickrn77	Finance & Accounting	0	Sep 1, 2006 12:48 PM
Issuing of shares	mark13	Accounting	1	Feb 12, 2006 07:08 PM



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!