Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx 0.37 points M11-4 Analyzing and

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Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx 0.37 points M11-4 Analyzing and Recording the Issuance of Common Stock [LO 11-2 To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock ssuance. (Enter any decreases to account balances with a minus sign.) ssets bilities 1-b. Prepare the joumal entry for the stock issuance (If no entry is required for a transaction/event select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of 1,000 shares with a $1 par value for a price of $50 per share. O Type here to search 6:30 PM 11/28/2017

Explanation / Answer

Assets Liabilities Stockholders' Equity Cash 50000 Common stock 1000 Paid in capital in excess of par-Common stock 49000 b Cash 50000       Common stock 1000       Paid in capital in excess of par-Common stock 49000

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