Question

To expand operations, Aragon Consulting issued 1350 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share Required: 1. Complete the table below, indicating the account amount and direction of the effect for the stock issuance. 1b. Prepare the journal entry for the stock issuance 2. Complete the table below, indicating the account amount and direction of the effect for the stock issuance with a par value of 2-b. Prepare the journal entry for the stock issuance of the par value were $2 per share Complete this question by entering your answers in the tabs below. R2A Reg 28 Complete the table below Indicating the account, amount nd direction of the effect for the stock issuance. Enter any decreases to account balances with a minussi Stockholders' Equity Reg 1 >

Answer 1

1.a
	Assets			=	Liabilities			+	Stockholder' Equity
	Cash		$1,350	=				+	Common Shares	$1,350
	Cash		$66,150	=				+	Additional Paid in capital-Common Shares	$66,150
2.a
	Assets			=	Liabilities			+	Stockholder' Equity
	Cash		$2,700	=				+	Common Shares	$2,700
	Cash		$64,800	=				+	Additional Paid in capital-Common Shares	$64,800
	Journal Enties:
1.b	Cash		$67,500
	Common Shares				$1,350
	Additional Paid in capital-Common Shares				$66,150
2.b	Cash		$67,500
	Common Shares				$2,700
	Additional Paid in capital-Common Shares				$64,800