Lily Corporation issued 5,400 shares of stock. Prepare the entry for the issuance under the...
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Accounting
Lily Corporation issued 5,400 shares of stock. Prepare the entry for the issuance under the following assumptions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $68,000. (b) The stock had a stated value of $5 per share and was issued for a total of $68,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services duri (d) The stock had a par value of $5 per share and was issued for land worth $68,000
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