Larry's Llama Livery, Inc. sold 40,000 shares of 3 dollar common stock for 150,000 dollars. Journal...
Larry's Llama Livery, Inc. sold 40,000 shares of 3 dollar common stock for 150,000 dollars. Journal Entry for June 3, 2018
Homework Answers
Journal entries
| Date | account and explanation | debit | credit |
| June 3,2018 | Cash | 150000 | |
| Common Stock (40000*3) | 120000 | ||
| Paid in capital in excess of par value-Common Stock | 30000 | ||
| (To record issue common stock) | |||
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Larry's Llama Livery, Inc. sold 40,000 shares of 3 dollar common
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On
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journal entry by selecting the account names from the drop down
menus and entering the dollar amounts in the debitor credit columns
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