Scribd Logo
Upload

Welcome to Scribd!

  • Journal Enttries: (To Record Class A Common Stock)

    Uploaded by

    Najeeb Khan
    8 views2 pages
    The document contains journal entries recording the issuance of Class A and Class B common stock. It records $1.2 million par value Class A stock and $2 million paid-in capital in excess of par for Class A. It also records $55 million cash in exchange for $55 million par value Class B stock. The total paid-in capital is calculated as $1.2 million + $2 million + $55 million = $8.2 million. The average issue price per share of Class B stock is calculated as $55 million divided by 11 million shares equals $5 per share.

    Original Description:

    Financial Accounting(Najeeb)

    Original Title

    Vle Activity(Najeeb)

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document contains journal entries recording the issuance of Class A and Class B common stock. It records $1.2 million par value Class A stock and $2 million paid-in capital in excess of par for Class A. It also records $55 million cash in exchange for $55 million par value Class B stock. The total paid-in capital is calculated as $1.2 million + $2 million + $55 million = $8.2 million. The average issue price per share of Class B stock is calculated as $55 million divided by 11 million shares equals $5 per share.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views2 pages

    Journal Enttries: (To Record Class A Common Stock)

    Uploaded by

    Najeeb Khan
    The document contains journal entries recording the issuance of Class A and Class B common stock. It records $1.2 million par value Class A stock and $2 million paid-in capital in excess of par for Class A. It also records $55 million cash in exchange for $55 million par value Class B stock. The total paid-in capital is calculated as $1.2 million + $2 million + $55 million = $8.2 million. The average issue price per share of Class B stock is calculated as $55 million divided by 11 million shares equals $5 per share.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    JOURNAL ENTTRIES

    1. Cash 3200,000

    Common stock (A) 1,200,000

    Paid in Capital in excess of par--- 2,000,000


    Class A common

    (To record class A common stock)

    2. 55,000,000

    Cash

    55,000,000
    Common Stock (B)

    3. Total Paid-in capital : 1,200,000

    2,000,000

    55,000,000

    8,200,000

    $8,200,000 is total paid in capital

    4. Average Issue price of each share of class B :

    5. 55,000,000/11,000,000 = $ 5

    Najeebullah(10369) Page 1
    Najeebullah(10369) Page 2

    You might also like