My first Magazine ACC 206 All Assignments | Page 8

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assignment-chapter-two-and-three-problems
Please complete the following 7 exercises below in either Excel or a
word document (but must be single document). You must show your
work where appropriate (leaving the calculations within Excel cells is
acceptable). Save the document, and submit it in the appropriate week
using the Assignment Submission button.
Chapter 2 Exercise 1
1. Issuance of stock
Prepare journal entries to record the issuance of 100,000 shares of
common stock at $20 per share for each of the following independent
cases:
a. Jackson Corporation has common stock with a par value of $1 per
share.
b. Royal Corporation has no-par common with a stated value of $5
per share.
c. French Corporation has no-par common; no stated value has been
assigned
Chapter 2 Exercise 3