Top Posters
Since Sunday
38
o
10
10
j
9
m
9
C
8
s
8
a
8
f
8
y
8
n
8
d
8
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
majestico majestico
wrote...
Go to Answer
Posts: 1455
Rep: 6 0
6 years ago
Prepare the journal entries for Mayhem Manufacturing:
July 21   Issued 7,000 shares of $10 par common stock for $85,000.
July 29   Issued 2,500 shares of 7%, $35 par preferred stock for equipment with a fair market value of $95,000.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
Read 39 times
2 Replies
Replies
Answer verified by a subject expert
keytwokeytwo
wrote...
#1
Top Poster
Posts: 710
Rep: 12 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
July 21   Cash   85,000
      Common Stock      70,000
      Paid-In Capital in Excess of Par ValueCommon      15,000

July 29   Equipment   95,000
      Preferred Stock      87,500
      Paid-In Capital in Excess of Par ValuePreferred      7,500
1

Related Topics

majestico Author
wrote...
#2
6 years ago
Thanks for attempting to answer. You were correct in your response!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  472 People Browsing
 245 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 188
  
 1356
  
 85
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 38
Previous poll results: Should Ph.D.'s be addressed as doctors?