All parts please Prepare the issuer's journal entry for...

80.2K

Verified Solution

Question

Accounting

All parts please image
image
image
Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 50,000 shares of $5 par value common stock for $32,0,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery. and acceptance of a $90,000 note payable. Journal entry worksheet Record the issuance of 50,000 shares of $5 par value common stock for $320,000 cash. Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1. Atlantic Company issues 50,000 shares of $5 par value common stock for $320,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000 cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery. and acceptance of a $90,000 note payable. Journal entry worksheet r. Record the issuance of no-par value common stock for $85,000 cash. numa. Entan rlabits before credits. Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Attantic Company issues 50,000 shares of $5 par value common stock for $320,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000 cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable. Journal entry worksheet Record the issuance of 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable. Nate: Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students