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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 16
Effect of a stock issuance
Brawndo issued common stock and received $29,000,000. The par value of the Brawndo stock was only $34,000.
Requirements
1. Is the excess amount of $28,966,000 a profit to Brawndo
2. Journalize the entry to record the stock issuance.
Brawndo issued common stock and received $29,000,000. The par value of the Brawndo stock was only $34,000.
Requirements
1. Is the excess amount of $28,966,000 a profit to Brawndo
2. Journalize the entry to record the stock issuance.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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