Randolph Corporation issued 5,000 shares of stock.
Instructions
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a par value of $5 per share and was issued for a total of $65,000.
(b) The stock had a stated value of $5 per share and was issued for a total of $65,000.
(c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000.
(d) The stock had a par value of $5 per share and was issued for land worth $65,000.

Question

Quizplus · Accepted Answer

The Answer of Randolph Corporation issued 5,000 shares of stock.
Instructions
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a par value of $5 per share and was issued for a total of $65,000.
(b) The stock had a stated value of $5 per share and was issued for a total of $65,000.
(c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000.
(d) The stock had a par value of $5 per share and was issued for land worth $65,000.

Randolph Corporation Issued 5,000 Shares of Stock