Final 7 - Question 7 Needs Grading Duringitsfirst yearof...

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Question 7 Needs Grading During its first  year of  operations,  Criswell Inc.  completed the  following  transactions  relating to  shareholders'  equity. Jan. 5 Issued  300,000 of its  common  shares for $8  per share and  3,000  preferred  shares at  $110. Feb. 12 Issued  50,000 shares  of common  stock in  exchange for  equipment  with a known  cash price of  $310,000. The articles of  incorporation  authorize  5,000,000  shares with a 
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par value of  $1 per share  of common  and 1,000,000  preferred  shares with a  par value of  $100 per  share. Required : Prepare the  journal entries 
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This note was uploaded on 02/29/2012 for the course INTERMEDIA 301 taught by Professor ?? during the Spring '12 term at Post.

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Final 7 - Question 7 Needs Grading Duringitsfirst yearof...

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