To expand operations, Aragon Consulting issued 1,050 shares of previously unissued common stock with no...
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Accounting
To expand operations, Aragon Consulting issued 1,050 shares of previously unissued common stock with no par value. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at $50. 2. Prepare the journal entry for the issuance of the no-par value stock at $50. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at $50. (Enter any decreases to account balances with a minus sign.) Assets Liabilities + Cash 52,500 = Stockholders' Equity Common Stock Additional Paid-In Capital, Common Stock 1,050 X x 51,450 X Required 1 Required 2 >
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