Question

Prepare entries to record the following: a. Issued 1,000 shares of $15 par common stock at...

Prepare entries to record the following:

a. Issued 1,000 shares of $15 par common stock at $54 for cash. If an amount box does not require an entry, leave it blank.

Cash
Common Stock
Paid-In Capital in Excess of Par-Common Stock

b. Issued 1,400 shares of no-par common stock in exchange for equipment with a fair market price of $24,000. If an amount box does not require an entry, leave it blank.

Equipment
Common Stock

c. Purchased 100 shares of treasury stock at $26. If an amount box does not require an entry, leave it blank.

d. Sold 100 shares of treasury stock purchased in (c) at $29. If an amount box does not require an entry, leave it blank.
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