During the Month of February, B & B Builders, Inc

question 17

Essay

During the month of February, B & B Builders, Inc. completed the following transactions related to its stock:
• February 2: Issued 3,000 shares of no-par common stock with a stated value of $1 for $15 cash per share.
• February 3: Issued 9,000 shares of no-par common stock with no stated value for $20 per share
• February 20: Issued 600 shares of $4 par value preferred stock for equipment with a fair market value of $5,000.
Required: Prepare journal entries for the above transactions.

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Definitions:

Relationship Goals

Objectives or milestones that individuals aim to achieve within their interpersonal relationships.

Substance Goals

Objectives that aim for the achievement of tangible, measurable outcomes or results in an organization.

Substance Goal

A specific, tangible, and measurable objective that an individual or organization aims to achieve.

Express Warranty

Any description of a good’s physical nature or its use, either in general or specific circumstances, that becomes part of a contract.