On June 1, Larkspur, Inc. issues 2,200 shares of no-par common stock at a cash price...

Question

Question

On June 1, Larkspur, Inc. issues 2,200 shares of no-par common stock at a cash price of $9 per share. Journalize the issuance

Answer 1

Answer #1

Ans: Issuance of shares journal entry:

Date	Account title and explanation	Debit($)	credit($)
June 1	Cash	19,800
	Common stock (2200*$9)		19,800
	( to record the issuance of shares)

Answer 2

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