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businessaccountingaccounting questions and answersp15-4 (stock trsanctions--lump sum) seles corpoation's charter authorized issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 preferred stock. the following transactions involving the issuance of shares of stock were completed. each transaction is independent of others. 1. issued a $100,000, 9% bond payable at par and gave as aQuestion: P15-4 (Stock Trsanctions--Lump Sum) Seles Corpoation's Charter Authorized Issuance Of 100,000 Shares Of $10 Par Value Common Stock And 50,000 Shares Of $50 Preferred Stock. The Following Transactions Involving The Issuance Of Shares Of Stock Were Completed. Each Transaction Is Independent Of Others. 1. Issued A $100,000, 9% Bond Payable At Par And Gave As AThis problem has been solved!
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Seles Corpoation's charter authorized issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of others.
1. Issued a $100,000, 9% bond payable at par and gave as a bonus one share of preferred stock, which at that time was selling for $106 a share.
2. Issued 500 shares of common stock for equipment. The equipment had been appraised at $7,100; the seller's book value was $6,200. The most recent market price of the common stock is $16 a share.
3. Issued 375 shares of common and 100 shares of preferred for a lump sum amounting to $10,800. The common had been selling at $14 and the preferred at $65.
4. Issued 200 shares of common and 50 shares of preferred for equipment. The common had a fair value of $16 per share; the equipment has a fair value of $6,500.
Instructions:
Record the transactions listed above in journal entry form.