Make the entries for the following events of the Burns Corporation: A. Sold 3,000 shares of a

Question:

Make the entries for the following events of the Burns Corporation:
A. Sold 3,000 shares of a $ 30 preferred stock for $ 102,000.
B. Declared a two- for- one stock split on its $ 2 common stock. There are 1,600,000 shares of authorized and 300,000 issued and outstanding.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...