Explore BrainMass

Explore BrainMass

    The Mars Corporation: Journal Entries

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    The Mars Corporation issued 2,000 shares of its $10 par value common stock for $70,000. The Mars Corporation also incurred $1,500 of costs associated with issuing the stock.

    Prepare The Mars Corporation's journal entry to record the issuance of the company's stock.

    © BrainMass Inc. brainmass.com October 9, 2019, 11:15 pm ad1c9bdddf

    Solution Preview

    Journal Entry for Mars Corporation

    DR Cash 70000
    CR Share capital ...

    Solution Summary

    Instructions on how to prepare journal entries recording issuance of a company's stock are provided.