To expand operations, Aragon Consulting issued 1,600 shares of previously unissued common stock with a par value of $1
To expand operations, Aragon Consulting issued 1,600 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.
1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance.
Homework Answers
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| Please find below the answer | |||
| Statementshowing Computations | |||
| Assets | Liabilities | ||
| Cash = 1600*50 = 80,000 | Common Stock = 1600*1 = 1600 | ||
| Paid in capital = 1600*49 = 78,400 | |||
| Transaction | General Journal | Debit | Credit |
| 1.00 | Cash dr | 80,000.00 | |
| To Common Stock | 1,600.00 | ||
| To Additional paid in capital | 78,400.00 |
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To expand operations, Aragon Consulting issued 1,600 shares of previously unissued common stock with a par value of $1
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1.
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...
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