Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation...
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Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 6,000 shares of its common stock for $87,600 cash on February 20 . Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. Journal entry worksheet Record the issue of 6,000 shares of $12 par value common stock for $87,600 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 6,000 shares of no-par, no-stated value common stock for $87,600 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 6,000 shares of $6 stated value common stock for $87,600 cash. Note: Enter debits before credits
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Exercise 11-3 (Algo) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 6,000 shares of its common stock for $87,600 cash on February 20 . Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $12 par value. 2. The stock has neither par nor stated value. 3. The stock has a $6 stated value. Journal entry worksheet Record the issue of 6,000 shares of $12 par value common stock for $87,600 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 6,000 shares of no-par, no-stated value common stock for $87,600 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 6,000 shares of $6 stated value common stock for $87,600 cash. Note: Enter debits before credits 