mjlohr
Feb 25, 2014, 11:40 AM
STOCK ISSUANCE (PAR, NO-PAR, AND STATED VALUE) The following transaction occurred during January 20-- for Bremer Corporation:
(a) Issued 5,000 shares of $10 par common stock for $50,000 cash.
(b) Issued 4,000 shares of $10 par common stock for $45,000 cash.
(c) Issued 4,000 shares of $10 par common stock for $37,000 cash.
(d) Issued 5,000 shares of no-par common stock for $60,000 cash.
(e) Issued 3,000 shares of no-par common stock for $40,000 cash.
(f) Issued 5,000 shares of no-par common stock with a stated value of $8 per share of $40,000 cash.
(g) Issued 2,000 shares of no-par common stock with a stated value of $8 per share for $15,000 cash.
(h) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $26,000 cash.
Prepare general journal entries to record the stock transactions, identifying each transaction by letter.
Thank you in advance,
Mary :)
(a) Issued 5,000 shares of $10 par common stock for $50,000 cash.
(b) Issued 4,000 shares of $10 par common stock for $45,000 cash.
(c) Issued 4,000 shares of $10 par common stock for $37,000 cash.
(d) Issued 5,000 shares of no-par common stock for $60,000 cash.
(e) Issued 3,000 shares of no-par common stock for $40,000 cash.
(f) Issued 5,000 shares of no-par common stock with a stated value of $8 per share of $40,000 cash.
(g) Issued 2,000 shares of no-par common stock with a stated value of $8 per share for $15,000 cash.
(h) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $26,000 cash.
Prepare general journal entries to record the stock transactions, identifying each transaction by letter.
Thank you in advance,
Mary :)