Entries for Issuing Stock On January 22, Zentric Corporation issued for cash 160,000 shares...
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Accounting
Entries for Issuing Stock
On January Zentric Corporation issued for cash shares of nopar common stock at $ On February Zentric issued at par value shares of preferred stock, $ par for cash. On August Zentric issued for cash shares of preferred stock, $ par at $
Journalize the entries to record the January February and August transactions. If an amount box does not require an entry, leave it blank.
Jan.
Feb.
Preferred Stock
Aug.
PaidIn Capital in Excess of ParPreferred Stock
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Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation. Recall the definition of legal capital and what affect that has on recording the sale of stock.
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