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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- 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.Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11 per share. The journal entry for the stock issuance would include a credit to Common Stock forFoster Corporation issued 48,000 shares of $2 par value common stock in exchange for a building with a market value of $210,000. Record the stock issuance. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit
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