Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 51,000 shares of $3 par value common stock for $323,000 cash. b. On April 1, OP Company issues no-par value common stock for $87,000 cash. c. On April 6, MPG issues 3,700 shares of $15 par value common stock for $56,000 of inventory, $170,000 of machinery, and acceptance of a $92,000 note payable. Vlew transaction list Journal entry worksheet 1 2 3 > Record the issuance of 51,000 shares of $3 par value common stock for $323,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 51,000 shares of $3 par value common stock for $323,000 cash. b. On April 1, OP Company issues no-par value common stock for $87,000 cash. c. On April 6, MPG issues 3,700 shares of $15 par value common stock for $56,000 of inventory, $170,000 of machinery, and acceptance of a $92,000 note payable. Vlew transaction list Journal entry worksheet 1 2 3 > Record the issuance of 51,000 shares of $3 par value common stock for $323,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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