D 404 Not Found https//edugen.w xyd wiep us SparkNotes: The Carte - X404 Not Fou
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D 404 Not Found https//edugen.w xyd wiep us SparkNotes: The Carte - X404 Not Found Https x Return to Blackboard Weygandt, Accounting Principles, 12e Helo I Svstem Announsements.(1 Unread) nment Exercise 13-4 Osage Corporation issued 1,950 shares of stock Prepare the entry for the issuance under the following assumptions. (Credit account titles are decimal places, e.g. 5,6so.) automatically indented when amount is enteresd (a) The stock had a par value of $9 per share and was issued for a total of $43,500 (b) The stock had a stated value of $9 per share and was issued for a total of $43,s00 (c) The stock had no par or stated value and was issued for a total of $43,500 (d) The stock had a par value of $9 per share and was issued to attorneys for services during incorperetion valued at $43,500. (e) The stock hed a par value of s9 per share and was issued for land worth $43,500 No. Account Tales and ExplanationExplanation / Answer
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No Account titles Debit Credit (a) Cash $ 43,500 Common stock - Par value $9 ($9*1,950) $ 17,550 Additional paid in capital - Common stock $ 25,950 (to record issue of 1,950 shares with a par value of $9) (b) Cash $ 43,500 Common stock, $9 stated value ($9*1,950) $ 17,550 Additional paid in capital - Common stock $ 25,950 (to record issue of 1,950 shares with a stated value of $9) c) Cash $ 43,500 Common stock ($9*1,950) $ 43,500 (to record issue of 1,950 shares) (d) Incorporation fee $ 43,500 Common stock - Par value $9 ($9*1,950) $ 17,550 Additional paid in capital - Common stock $ 25,950 (to record issue of 1,950 shares with a par value of $9 against incorporation fee) e) Land $ 43,500 Common stock - Par value $9 ($9*1,950) $ 17,550 Additional paid in capital - Common stock $ 25,950 (to record issue of 1,950 shares with a par value of $9 against land)Related Questions
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