11) Journalize the transactions for the stock subscription plan for Nick Company. On February 1, Nick received subscriptions for 100 shares of $10 par value common stock at $12 per share. The buyer will pay two equal installments on March 1 and June 1. Assume all payments are made as scheduled and the company issues the stock after the June 1 collection.

12) Journalize the transactions for the stock subscription plan for Rico Company. On February 1, Rico received subscriptions for 90 shares of $10 par value common stock at $15 per share. The buyer will pay two equal installments on March 1 and June 1. Assume all payments are made as scheduled and the company issues the stock after the June 1 collection.

 

 



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