Business, 08.05.2021 03:20 mikki93

Record journal entries for the following separate transactions. a. Max Inc. issued 6,000 shares of $1 par value common stock for $20 per share on January 1, 2020.
b. Max Inc. issued 1,200 shares of no-par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of $2.
c. Max Inc. issued 600 shares of no-par common stock for $18 per share on January 1, 2020.
d. Max Inc. issued 6,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $1,200 in legal fees related to the stock issuance.
e. Max Inc. issued 12,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $213,600.
f. Max Inc. issued 3,600 shares of Class A common stock ($1 par) and 4,800 shares of Class B common stock ($2 par) at a price of $96,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share.
g. Max Inc. issued 3,600 shares of Class A common stock ($1 par) and 4,800 shares of Class B common stock ($2 par) at a price of $102,000. At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown.

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Record journal entries for the following separate transactions. a. Max Inc. issued 6,000 shares of...

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