During Its First Year of Operations, Criswell Inc

question 90

Essay

During its first year of operations, Criswell Inc. completed the following transactions relating to shareholders' equity.
Jan. 5: Issued 300,000 of its common shares for $8 per share and 3,000 preferred shares at $110.
Feb. 12: Issued 50,000 shares of common stock in exchange for equipment with a known cash price of $310,000.
The articles of incorporation authorize 5,000,000 shares with a par value of $1 per share of common and 1,000,000 preferred shares with a par value of $100 per share.
Required:
Record the above transactions in general journal form.

Understand the use and benefits of different types of search tools and databases in accessing online information.

Identify and understand the purpose and components of various types of business documents and reports.

Comprehend the ethical considerations in business research and documentation.

Recognize the importance of document structure, approach, and audience analysis in business communication.

---

Definitions:

Human Motives

The internal drives, desires, and needs that prompt individuals to act or behave in certain ways.

Modern-Day Civic Clubs

Contemporary organizations or groups that engage in voluntary work and community service with the aim of improving society and the well-being of its members.

Civic Clubs

Organizations that focus on volunteering and community service, aiming to improve community well-being and foster civic engagement among members.

Benjamin Franklin

An American polymath who was a leading figure in the American Enlightenment, known for his contributions to the drafting of the Declaration of Independence and his experiments with electricity.