Business, 25.03.2021 04:50 NerdyJason
Accounting for par, stated, and no-par stock issuances LO P1
Rodriguez Corporation issues 16,000 shares of its common stock for $176,900 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
The stock has a $8 par value.
The stock has neither par nor stated value.
The stock has a $4 stated value.
1. Record the issue of 16,000 shares of no par, no stated value common $94,900 cash.
2. Record the issue of 16,000 shares of $2 stated value common stock for $94,900 cash.
Answers: 2
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Accounting for par, stated, and no-par stock issuances LO P1
Rodriguez Corporation issues 16,000 sh...
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