During its first year of operations, Collin Raye Corporation had the following transactions…

| February 12, 2015

During its first year of operations, Collin Raye Corporation had the following transactions pertaining to its common stock.align=”right”>align=”left”>

Jan. 10 Issued 80,000 shares for cash at $6 per share.
Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for $35,000 for services rendered in helping the company to incorporate.
July 1 Issued 30,000 shares for cash at $8 per share.
Sept 1 Issued 60,000 shares for cash at $10 per share.
Instructions

(a) Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share.
(b) Prepare the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $3 per share.

Get a 5 % discount on an order above $ 150
Use the following coupon code :
2018DISC
This assignment requires students to think of one instance in their lives where they acted in a...
History of Urban Growth PPA 604 DQ 2

Category: Coursework

Our Services:
Order a customized paper today!