Examlex
The following selected transactions pertain to L. Lewis Corporation:
Jan. 3 Issued 100000 shares $10 par value common stock for $25 per share.
Feb. 10 Issued 6000 shares $10 par value common stock in exchange for special purpose equipment. L. Lewis Corporation's common stock has been actively traded on the stock exchange at $30 per share.
Instructions
Journalize the transactions.
Forgone Current Income
The income an individual or entity could have earned but chose to forego for pursuing an alternative.
State Universities
Public institutions of higher education that are primarily funded by a state or local government.
Opportunity Cost
The result of losing potential upsides from other choices by committing to one.
Market Price
The current market price for purchasing or selling goods or services.
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