Question
In: Accounting
During its first year of operations, Falls Corporation had the following transactions pertaining to its common...
During its first year of operations, Falls Corporation had the following transactions pertaining to its common stock.
Jan 10 issued 84,900 shares for cash at $6 per share
Mar 1 Issued 5,000 shares to attorneys in payment of a bill for $37,600 for services rendered in helping the company to incorporate.
July 1 Issued 33,100 shares for cash at $8 per share.
Sept 1 Issued 63,200 shares for cash at $10 per share.
(a)List the journal entries for these transactions, assuming that the common stock has a par value of $5 per share.(b)List the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per share.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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