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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![Required information
[The following information applies to the questions displayed below.]
Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to
stockholders' equity.
January 1 Issues 600 shares of common stock for $40 per share.
April 1 Issues 100 additional shares of common stock for $44 per share.
2. Record the transactions, assuming Clothing Frontiers has either $1 por value or $1 stated value common stock (if no entry is
required for a particular transaction/event, select "No Journal Entry Required in the first account field.)
View transaction list
Journal entry worksheet
1
2
Record the issuance of 600 shares of common stock for $40 per share.
Noter Enter debits before credits.
Date
January 011
Record entry
General Journal
Clear entry
Deb
Credit
View general journal](https://content.bartleby.com/qna-images/question/86ebbfe3-87d4-4c98-910c-90d178f6e7e5/60b6ad52-24d0-4a5c-8198-e5752d8d8eac/uyuw8cf_thumbnail.jpeg)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to
stockholders' equity.
January 1 Issues 600 shares of common stock for $40 per share.
April 1 Issues 100 additional shares of common stock for $44 per share.
2. Record the transactions, assuming Clothing Frontiers has either $1 por value or $1 stated value common stock (if no entry is
required for a particular transaction/event, select "No Journal Entry Required in the first account field.)
View transaction list
Journal entry worksheet
1
2
Record the issuance of 600 shares of common stock for $40 per share.
Noter Enter debits before credits.
Date
January 011
Record entry
General Journal
Clear entry
Deb
Credit
View general journal

Transcribed Image Text:Required information
[The following information applies to the questions displayed below.)
Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to
stockholders' equity.
January 1 Issues 600 shares of common stock for $40 per share.
April 1 Issues 188 additional shares of common stock for $44 per share.
Required:
1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular
transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
1
2
Record the issuance of 600 shares of common stock for $40 per share.
Note: Enter debits before credits.
Date
January 01
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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- Required Information Williamson Corporation's Board authorized 81,000 shares of common stock with $3 par value. During the first year, Williamson: a. Sold 59,000 shares of common stock for cash at $44 per share. b. Repurchased 6,000 shares at $46 per share. Required: 1. Prepare the journal entry required for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Vww transaction lat Journal entry worksheet 2 Sold 59,000 shares of common stock for cash at $44 per share. Note: Enter debts before ads Transaction Macord entry General Journal Clear entry Debit Credit View general journalarrow_forwardPlease help with all answersarrow_forwardSubject :- Accountingarrow_forward
- Pronghorn Corp began operations on April 1 by issuing 52,200 shares of $4 par value common stock for cash at $15 per share. In addition, Pronghorn issued 2,300 shares of $1 par value preferred stock for $5 per share.Journalize the issuance of the common and preferred shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)arrow_forwardplease answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)arrow_forwardSubject: acountingarrow_forward
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