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  • Seles Corporation S Charter Authorized Issuance of 100 000 Share PDF

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    Anbu jaromia
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    Seles Corporation's charter authorized the issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 par value preferred stock. The document then describes four independent transactions involving the issuance of these stocks: 1) Issuing a $10,000 bond and 1 share of preferred stock. 2) Issuing 500 shares of common stock for machinery valued at $7,100. 3) Issuing 375 shares of common and 100 shares of preferred for $10,800. 4) Issuing 200 shares of common and 50 shares of preferred for furniture valued at $6,500.

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    Seles Corporation's charter authorized the issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 par value preferred stock. The document then describes four independent transactions involving the issuance of these stocks: 1) Issuing a $10,000 bond and 1 share of preferred stock. 2) Issuing 500 shares of common stock for machinery valued at $7,100. 3) Issuing 375 shares of common and 100 shares of preferred for $10,800. 4) Issuing 200 shares of common and 50 shares of preferred for furniture valued at $6,500.

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    © All Rights Reserved
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    19 views1 page

    Seles Corporation S Charter Authorized Issuance of 100 000 Share PDF

    Uploaded by

    Anbu jaromia
    Seles Corporation's charter authorized the issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 par value preferred stock. The document then describes four independent transactions involving the issuance of these stocks: 1) Issuing a $10,000 bond and 1 share of preferred stock. 2) Issuing 500 shares of common stock for machinery valued at $7,100. 3) Issuing 375 shares of common and 100 shares of preferred for $10,800. 4) Issuing 200 shares of common and 50 shares of preferred for furniture valued at $6,500.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Seles Corporation s charter authorized issuance of 100 000

    share
    Seles Corporation’s charter authorized issuance of 100,000 shares of $10 par value common
    stock and 50,000 shares of $50 preferred stock. The following transactions involving the
    issuance of shares of stock were completed. Each transaction is independent of the others.1.
    Issued a $10,000, 9% bond payable at par and gave as a bonus one share of preferred stock,
    which at that time was selling for $106 a share.2. Issued 500 shares of common stock for
    machinery. The machinery had been appraised at $7,100; the seller’s book value was $6,200.
    The most recent market price of the common stock is $16 a share.3. Issued 375 shares of
    common and 100 shares of preferred for a lump sum amounting to $10,800.The common had
    been selling at $14 and the preferred at $65.4. Issued 200 shares of common and 50 shares of
    preferred for furniture and fixtures. The common had a fair market value of $16 per share; the
    furniture and fixtures have a fair value of $6,500.Record the transactions listed above in journal
    entry form.View Solution:
    Seles Corporation s charter authorized issuance of 100 000 share
    SOLUTION-- http://accountinginn.online/downloads/seles-corporation-s-charter-authorized-
    issuance-of-100-000-share/

    For Solutions Visit accountinginn.online


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