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2 years ago

Requirement 1. Record the transactions in the general journal

1 answer:

german2 years ago

6 0

Cash is debit amount is, 84000. Preferred stock-$50 par value is credit, 30000. Paid in capital in excess of par-preferred is credit, 54000.

What is market value?

Market value is the amount an asset would sell for on the open market, or the estimation of an equity or company's worth by the financial community.

Date Accounts title & explanation Debit Credit

cash (600×140) 84000

Preferred stock-$50 par value, 30000

Paid in capital in excess of par-preferred, 54000

Hence, the significance of the market value is aforementioned.

Learn more about on market value, here:

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