On August 3, Waterways Corporation issued for cash 45,000 shares of no-par common stock (with a stated

Question:

On August 3, Waterways issued for cash 45,000 shares of no-par (with a stated value of $100) at $128. On September 22, Waterways issued at par 2,000 shares of 1%, $75 par preferred stock for cash. On November 4, Waterways issued for cash 3,000 shares of 1%, $75 par preferred stock at $80.
Journalize the entries to record the August 3, September 22, and November 4 transactions.

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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...