Journalize the Transactions for the Stock Subscription Plan for Oro

question 52

Essay

Journalize the transactions for the stock subscription plan for Oro Company. On March 1, Oro received subscriptions for 120 shares of $15 par value common stock at $20 per share. The buyer will pay two equal installments on April 1 and July 1. Assume all payments are made as scheduled and the company issues the stock on August 1.

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Definitions:

Reproductive Isolating Mechanisms

Reproductive isolating mechanisms are biological features of organisms that prevent species from interbreeding, thereby maintaining species separateness.

Interbreeding

The mating or crossing of two individuals from different populations, species, or varieties, leading to the production of offspring.

Species

A group of organisms capable of interbreeding and producing fertile offspring, sharing common characteristics and genetic makeup.

Allopatric Speciation

A form of speciation that occurs when biological populations of the same species become isolated from each other to an extent that prevents genetic interchange.