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$5.00 ACC226 Quick study 13-2,13-4,and 13-5

Found in Economics: Accounting
Chapter 1, # 0

Q:

Prepare the journal entry to record each separate transaction. (a) On March 1, DVD Co. issues 44,500
shares of $4 par value common stock for $255,000 cash. (b) On April 1, GT Co. issues no-par value
common stock for $50,000 cash. (c) On April 6, MTV issues 2,000 shares of $20 par value common
stock for $35,000 of inventory, $135,000 of machinery, and acceptance of a $84,000 note payable.

 

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