ACC 205 Week 4 Exercise 4 Issuance of stock organization costsIssuance of stock: organization costs. Snowbound Corporation was incorporated in July. The firm’s charter authorized the sale of 200,000 shares of $10 par-value common stock. The following transactions occurred during the year:7/1:Sold 45,000 shares of common stock to investors for $18 per share. Cash was collected and the shares were issued.8/11Sold 20,000 shares to investors for $22 per share. Cash was collected and the shares were issued.9/1 Declared a cash dividend on 9/1 for $1.00 a share for shareholders on record 10/1 with payment being made on 11/1.Instructionsa. Prepare journal entries for the two stock issues.b. Prepare journal entries for the cash dividend declaration and payment. Follow this link to get a similar paper written from scratchPlace an order for this assignment or any other paper with us. We guarantee that the paper will be delivered within the specified deadline. We also have a personalized customer support and you will be able to communicate with your writer throughout the order preparation process. Thank you for choosing us.
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