Question

Prepare the journal entry to record Autumn Company's issuance of 65,000 shares of no-par value common stock assuming the shares: a. Sell for $28 cash per share. b. Are exchanged for land valued at $1,820,000. Skipped Book View transaction list Hint Journal entry worksheet Print Cerences 1 2 Record the issuance of 65,000 shares of no-par value common stock assuming the shares sell for $28 cash per share. Note: Enter debits before credits.

Answer 1

A. Record the issurance of $65000 shares of no-par value common stock assuming the shares for $28 cash per share

here Common Stock Is ($65000 * $28) =

S/r.No	Particular	Debit $	Credit $
A.	Cash A/c	1,820,000
	To Common Stock		1,820,000
	[ Being Record the issurance ofshares of no-par common stock ]

B. Record the issurance of $65000 shares of no-par value common stock assuming the shares are Exchanged for land valued at $1820000

S/r.No	Particular	Debit $	Credit $
B	land A/c	1,820,000
	To Common Stock		1,820,000
	[ Being ecord the issurance of shares of no-par value common stock assuming the shares are Exchanged for land ]