Reference no: EM132460677
During its first year of operations, Falls Corporation had the following transactions pertaining to its common stock.
Point 1: Jan 10 issued 84,900 shares for cash at $6 per share
Point 2: Mar 1 Issued 5,000 shares to attorneys in payment of a bill for $37,600 for services rendered in helping the company to incorporate.
Point 3: July 1 Issued 33,100 shares for cash at $8 per share.
Point 4: Sept 1 Issued 63,200 shares for cash at $10 per share.
Problem (a) List the journal entries for these transactions, assuming that the common stock has a par value of $5 per share.
Problem (b) List the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $2 per share
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