The ABC Corporation issued 25,000 shares of common for a Building with a market value of $250,000. The Par Value of the common stock is $2.00 and the current market price is $5.00. Required: Record the Journal Entry for the issuance of the stock.
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The ABC Corporation issued 25,000 shares of common for a Building with a market value of $250,000.
The Par Value of the common stock is $2.00 and the current market price is $5.00.
Required:
Record the
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- Nebraska Inc. issues 2,750 shares of common stock for $88,000. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock forTo expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share.To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 2-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. 1-b: Record the issuance of 1,000 shares with a $1 par value for a price of $50 per share. 2-b: Record the issuance of 1,000 shares with a $2 par value for a price of $50 per share.
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