80.2K

Verified Solution

Link Copied!

All parts please

Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 50,000 shares of $5 par value common stock for $32,0,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery. and acceptance of a $90,000 note payable. Journal entry worksheet Record the issuance of 50,000 shares of $5 par value common stock for $320,000 cash. Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1. Atlantic Company issues 50,000 shares of $5 par value common stock for $320,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000 cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery. and acceptance of a $90,000 note payable. Journal entry worksheet r. Record the issuance of no-par value common stock for $85,000 cash. numa. Entan rlabits before credits. Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Attantic Company issues 50,000 shares of $5 par value common stock for $320,000 cash. b. On April 1, OP Company issues no-par value common stock for $85,000 cash. c. On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable. Journal entry worksheet Record the issuance of 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable. Nate: Enter debits before credits

Answer & Explanation Solved by verified expert

See Answer