FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Zeus Corporation issued 5,000 shares of stock.
Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is
entered. Do not indent manually.)
(a)
The stock had a par value of $5 per share and was issued for a total of $65,000.
(b)
The stock had a stated value of $5 per share and was issued for a total of $65,000.
(c)
The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000.
(d)
The stock had a par value of $5 per share and was issued for land worth $65,000.
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Transcribed Image Text:Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000. (d) The stock had a par value of $5 per share and was issued for land worth $65,000.
Date Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
(d)
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Transcribed Image Text:Date Account Titles and Explanation Debit Credit (a) (b) (c) (d)
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