Question

CHAPTL13 ASSIGNMENT Question 43 of 50 > -/1 Prepare for under the following demandent mort red. Do not indien View 43 The shadap value of $5 pershare and wait for a total of $65.000 The stock had a stated value of person was for a total 565.000 The stock lada por of per share and wanted to attorneys for services.dicincorporation valued at 165.000 The stock tada por la of Sper share and wasted for und worth $5.000 Q Ques M Credit Date Accountitles and Examation Quest

Answer 1

Hi
Hope it's 5000 shares, if not let me know. I will the answer accordingly.

		Debit	Credit
a	Cash	65000
	Common Stock		25000	=5000*5
	Paid-in Capital in Excess of par value-Common Stock		40000
b	Cash	65000
	Common Stock		25000	=5000*5
	Paid-in Capital in Excess of stated value-Common Stock	40000
c	Organization Expense	65000
	Common Stock		25000	=5000*5
	Paid-in Capital in Excess of par value-Common Stock		40000
d	Land	65000
	Common Stock		25000	=5000*5
	Paid-in Capital in Excess of par value-Common Stock		40000