Answered: On May 10, Pronghorn Corp. issues 2,200…

On May 10, Pronghorn Corp. issues 2,200 shares of $4 par value common stock for cash at $14 per share. what is the journal entry issuance of the stock?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

11-02: On May 10, Pronghorn Corp. issues 2,200 shares of $4 par value common stock for cash at $14 per share.

what is the journal entry issuance of the stock?

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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