ps.hedugen.wileyplus.com/edugen/student/mainfr.uni upen Assignment CALCULATOR FU
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ps.hedugen.wileyplus.com/edugen/student/mainfr.uni upen Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK RESOURCES Homework 112 Jan. 10 July 1 Issued 30,000 shares for cash at $5 per share. Issued 60,000 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. e 11-4 w 11-6 9 (Record entries in the order displayed in the problem statement. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit ts tud I Privacy Policy I 2000-2017 John Wiley &Sons;, Inc, All Rights Reserved. A Division of John Willey &Sons; Inc mentExplanation / Answer
Answer
A.
(In $)
Date
Particulars
Dr. Amount
Cr. Amount
Jan 10
Bank(30,000 shares * $5)
150,000
Common Stock(30,000 shares * $5)
150,000
(Being 30,000 shares issued at par)
July1
Bank(60,000 shares * $7)
420,000
Common Stock(60,000 shares * $5)
300,000
Additional paid in capital(60,000 shares * $2)
120,000
(Being 60,000 shares are issued at $2 premium)
B.
(In $)
Date
Particulars
Dr. Amount
Cr. Amount
Jan 10
Bank(30,000 shares * $5)
150,000
Common Stock(30,000 shares * $1)
30,000
Additional paid in capital(30,000 shares * $4)
120,000
(Being 30,000 shares issued at $4 premium)
July1
Bank(60,000 shares * $7)
420,000
Common Stock(60,000 shares * $1)
60,000
Additional paid in capital(60,000 shares * $6)
360,000
(Being 60,000 shares are issued at $6 premium)
Date
Particulars
Dr. Amount
Cr. Amount
Jan 10
Bank(30,000 shares * $5)
150,000
Common Stock(30,000 shares * $5)
150,000
(Being 30,000 shares issued at par)
July1
Bank(60,000 shares * $7)
420,000
Common Stock(60,000 shares * $5)
300,000
Additional paid in capital(60,000 shares * $2)
120,000
(Being 60,000 shares are issued at $2 premium)
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