Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx M115 Analyzing and Recording th

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Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx M115 Analyzing and Recording the Issuance of No-Par Value Common Stock [LO 11-2) To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with no-par value 1. Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at $50. (Enter any decreases to account balances with a minus sign.) Equity 2. Prepare the journal entry for the issuance of the no-par value stock at S50. (lf no entry is required for a transactionievent, select "No Joumal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of 1,000 shares with no par value for a price of $50 per share. Note: Enter debits before credits. Debit Credit 6:34 PM O Type here to search

Explanation / Answer

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Asset = Liabilities + Stockholders Equity Cash+50000 0 Common Stock-no par value +50000

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