ingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value 6% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 share
ingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value 6% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 share
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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Wingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value 6%
Mar. 1 | Issued 10,000 shares of preferred stock at $115 per share. |
Mar. 2 | Issued 130,000 shares of common stock at $13 per share. |
Apr. 10 | Issued 15,000 shares of common stock for equipment valued at $196,000. The stock is currently trading at $12 per share, and is a more reliable indicator of the value of the equipment. |
Jun. 12 | Issued 12,000 shares of common stock at $15 per share. |
Aug. 5 | Issued 1,000 shares of preferred stock at $112 per share. |
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Jun. 12 |
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