On January 1, 2014, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Net income for 2014 amounted to $951,000.
Instructions
Prepare journal entries to record the above transactions.

Question

On January 1, 2014, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:  Net income for 2014 amounted to $951,000.
Instructions
Prepare journal entries to record the above transactions.

Quizplus · Accepted Answer

The Answer of On January 1, 2014, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:  Net income for 2014 amounted to $951,000.
Instructions
Prepare journal entries to record the above transactions.

On January 1, 2014, Browning Corporation Had 75,000 Shares of $1