Dave Matthew Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $100,000

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1.47K viewsJune 4, 2017

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Darshita 6.14K June 4, 2017 0 Comments

Dave Matthew Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $100,000.

(a) Prepare the journal entry for the issuance when the market value of the CS is $165 each and market value of the PS is 230 each

(b) Prepare the journal entry for the issuance when only the market value of the common stock is known and it is $170 per share

score 0 · Answer 1 · 2017-06-04T04:02:43+00:00

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