journalize the company rsquo s issuance of the stock for cash 551012
Issuing stock and interpreting stockholders’ equity
Scifilink.com issued stock beginning in 2012 and reported the following on its balance sheet at December 31, 2012:
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journalize the company rsquo s issuance of the stock for cash 551012
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Common stock, $ 2.00 par value |
|
|
Authorized: 6,000 shares |
|
|
Issued: 4,000 shares |
$ 8,000 |
|
Paid-in capital in excess of par |
4,000 |
|
Retained earnings |
26,500 |
Requirement
- Journalize the company’s issuance of the stock for cash.
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