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6200
Req. 1: journalize the issuance of ordinary shares
Accounts titles and Debit Credit
Capital Nate Smith 25,000
Capital Darla Jones 25,000
Common stock 50,000
plan 2
Cash 55,000
Preferred stock 55,000
Cash 35,000
Common stock 35,000
Plan 2 Number of votes external Smith and Jones only have 50000 voting shares
Common votes 35,000
Preferred votes (500 25000
And only 10 000 more
Par value gives no clue as to the stock’s market value.
00 voting shares