During its first year of operations pele corporation had, Ask an Expert

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During its first year of operations, Pele Corporation had these transactions pertaining to its common stock. Jan. 10 Issued 30,000 shares for cash at $5 per share. July 1 Issued 60,000 shares for cash at $7 per share.

a) Journalize the transactions, assuming that the common stock has a par value of $5 per share.

b) Journalize the transactions, assuming that the common stock is no-par value with a stated value of $1 per share.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9986861

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