Smart Electronics Completed the Following Stock Issuance Transactions Prepare the Journal Entries to Record These Transactions

question 124

Essay

Smart Electronics completed the following stock issuance transactions:
$$\begin{array} { | l | l | } \hline \text { June 7 } & \text { Issued 4,000 shares of } \$ 3 \text { par value common stock for cash of } \\&\$ 12 \text { per share }\\\hline \text { Aug. 16 } & \text { Issued } 400 \text { shares of no-par preferred stock for } \$ 25,000 \text { cash } \\\hline & \text { Received equipment with a market value of } \$ 75,000 \text { in } \\\text { Sept. 19 } & \text { exchange for 5,000 shares of the } \$ 3 \text { par value common stock } \\\hline\end{array}$$ Prepare the journal entries to record these transactions. Explanations are not required.

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Definitions:

Variance

A statistical measure of the dispersion of a set of data points, calculated as the average of the squared differences from the mean.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of the relationship between two variables, often represented by the symbol 'r'.

Coefficient Of Determination

A statistical measure that assesses the proportion of variance in a dependent variable that is predictable from the independent variable(s).

Variance

The statistical measurement of the spread between numbers in a data set, indicating how much each number differs from the mean of the data set.