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Prepare the Necessary Journal Entry for Each of the Following

question 153

Essay

Prepare the necessary journal entry for each of the following transactions for Zenia Corporation.
(a) Issued 2,000 shares of its $5 par value common stock for $20 per share.
(b) Issued 5,000 shares of its stock for land advertised for sale at $90,000. Zenia's stock is actively traded at a market price of $16 per share.


Definitions:

Human Characteristics

Traits or features that define or distinguish human populations and individuals.

Logotype

A unique design of a company’s name in a specific, fixed style of type, used as a visual symbol of the company’s identity.

Trademark Office

A government agency responsible for registering and protecting trademarks, which are symbols, logos, or names that distinguish goods and services.

Trademark Infringement

The illicit application of a trademark or service mark to products and/or services without permission, in a way that may lead to confusion, deceit, or error regarding the origin of those goods and/or services.

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