Martinez Corporation issued 2.500 shares of stock Prepare the entry for the issuance under the following assumptions. (Ust all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) (b) (c) (d) (e) The stock had a par value of $6.00 per share and was issued for a total of $46,500. The stock had a stated value of $6.00 per share and was issued for a total of $46,500. The stock had no par or stated value and was issued for a total of $46,500 The stock had a par value of $6.00 per share and was issued to attorneys for services during incorporation valued at $46,500 The stock had a par value of $6.00 per share and was issued for land worth $46,500
Martinez Corporation issued 2.500 shares of stock Prepare the entry for the issuance under the following assumptions. (Ust all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) (b) (c) (d) (e) The stock had a par value of $6.00 per share and was issued for a total of $46,500. The stock had a stated value of $6.00 per share and was issued for a total of $46,500. The stock had no par or stated value and was issued for a total of $46,500 The stock had a par value of $6.00 per share and was issued to attorneys for services during incorporation valued at $46,500 The stock had a par value of $6.00 per share and was issued for land worth $46,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Martinez Corporation issued 2,500 shares of stock.
Prepare the entry for the issuance under the following assumptions. (Ust all debit entries before credit entries. Credit account titles are
automatically indented when amount is entered. Do not indent manually)
(a)
(b)
(c)
(d)
(e)
(b)
No. Account Titles and Explanation
(a)
(c)
(d)
The stock had a par value of $6.00 per share and was issued for a total of $46,500.
The stock had a stated value of $6.00 per share and was issued for a total of $46,500.
The stock had no par or stated value and was issued for a total of $46,500
Ⓡ
The stock had a par value of $6.00 per share and was issued to attorneys for services during incorporation valued at $46,500.
The stock had a par value of $6.00 per share and was issued for land worth $46,500.
Debit
11
1
C
Credit
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