To expand operations, Aragon Consulting issued 1,300 shares of previously unissu
ID: 2476560 • Letter: T
Question
To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.
Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. (Enter any decreases to account balances with a minus sign.)
Assets = Liabilities+Shock holder equity
Prepare the journal entry for the stock issuance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. (Enter any decreases to account balances with a minus sign.)
Assets = Liabilities+Shock holder equity
Prepare the journal entry for the stock issuance, if the par value were $2 per share. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
To expand operations, Aragon Consulting issued 1,300 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.
Explanation / Answer
1a)
b)
2a)
2b)
Transaction Assets = Liabilities + Stock holder equity Issued Stock 65000 = 0 + 65000Related Questions
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