Please do not give solution in image format ? (a)Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before creditentries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount isentered. Do not indent manually)(b)Date Account Titles and ExplanationShow Transcribed Text3Date Account Titles and ExplanationĈDebitJournalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (List all debit entriesbefore credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented whenamount is entered. Do not indent manually.)CreditDebitCredit During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock.Issued 71,000 shares for cash at $7 per share.Issued 38,000 shares for cash at $8 per share.Jan.July101

Journal entries are the primary reporting of the business transactions in the books of accounts.…

During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at 58 per share. July 1

During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 71,000 shares for cash at $7 per share. Issued 38,000 shares for cash at 58 per share. July 1

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 6Q: The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares:...

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Question

Please do not give solution in image format ?

(a)
Journalize the transactions, assuming that the common stock has a par value of $7 per share. (List all debit entries before credit
entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is
entered. Do not indent manually)
(b)
Date Account Titles and Explanation
Show Transcribed Text
3
Date Account Titles and Explanation
Ĉ
Debit
Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (List all debit entries
before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Credit
Debit
Credit

During its first year of operations, Blue Spruce Corporation had the following transactions pertaining to its common stock.
Issued 71,000 shares for cash at $7 per share.
Issued 38,000 shares for cash at $8 per share.
Jan.
July
10
1

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