Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please do all three parts, thank you! exerc

please do all three parts, thank you! Exercise...

90.2K

Verified Solution

Question

Accounting

please do all three parts, thank you!
image
image
image
image
Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 18,000 shares of its common stock for $288,900 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. Journal entry worksheet Record the issue of 18,000 shares of $14 par value common stock for $288,900 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 18,000 shares of no-par, no-stated value common stock for $288,900 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 18,000 shares of $7 stated value common stock for $288,900 cash. Note: 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