Aloha corporation issues 11000 shares of its common stock, Ask an Expert

Accounting

Aloha Corporation issues 11,000 shares of its common stock for $111,100 cash on February 20.

1. Assume the stock has neither par nor stated value. Prepare journal entries to record this event.

2. Assume the stock has a $7 par value. Prepare journal entries to record this event.

3. Assume the stock has an $3.5 stated value. Prepare journal entries to record this event.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9984071

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