Stengel Company was organized on March 1,2025. It is authorized to issue 20,000 shares of...
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Accounting
Stengel Company was organized on March It is authorized to issue shares of $ par value preferred stock, and shares of nopar common stock with a stated value of $ per share. The following stock transactions were completed during the first year.
August
Issued shares of common stock to attorneys in payment of their bill of $ for services rendered in helping the company organize.
November
Issued shares of common stock and shares of preferred stock for a lump sum of $ The fair value of the common stock is $ The fair value of the preferred stock cannot be determine
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