Answer:
Various Corporations
Journal Entries:
(a) Debit Cash $58,000
Credit Common stock $58,000
To record the issuance of 5,800 shares of $10 par common stock for $58,000 cash.
(b) Debit Cash $49,000
Credit Common stock $38,000
Credit Additional Paid-in Capital $11,000
To record the issuance of 3,800 shares of $10 par common stock for $49,000 cash.
(c) Debit Cash $54,100
credit Common stock $54,100
To record the issuance of 4,900 shares of no-par common stock for $54,100 cash.
(d) Debit Cash $41,500
Credit Common stock $41,500
To record the issuance of 3,900 shares of no-par common stock for $41,500 cash.
(e) Debit Cash $50,400
Credit Common stock $50,400
To record the issuance of 6,300 shares of no-par common stock with a stated value of $8 per share for $50,400 cash.
(f) Debit Cash $22,800
Credit Common stock $21,600
Credit Additional Paid-in Capital $1,200
To record the issuance of 2,700 shares of no-par common stock with a stated value of $8.
Explanation:
a) Data and Analysis:
(a) Cash $58,000 Common stock $58,000
Issued 5,800 shares of $10 par common stock for $58,000 cash.
(b) Cash $49,000 Common stock $38,000 Additional Paid-in Capital $11,000
Issued 3,800 shares of $10 par common stock for $49,000 cash.
(c) Cash $54,100 Common stock $54,100
Issued 4,900 shares of no-par common stock for $54,100 cash.
(d) Cash $41,500 Common stock $41,500
Issued 3,900 shares of no-par common stock for $41,500 cash.
(e) Cash $50,400 Common stock $50,400
Issued 6,300 shares of no-par common stock with a stated value of $8 per share for $50,400 cash.
(f) Cash $22,800 Common stock $21,600 Additional Paid-in Capital $1,200
Issued 2,700 shares of no-par common stock with a stated value of $8 per share for $22,800 cash.
