On July 6, Istanbul Artifacts Corporation issued for cash 800,000 shares of no-par common stock at $1.20.

Question:

On July 6, Istanbul Artifacts issued for cash 800,000 shares of no-par at $1.20. On August 30, Istanbul Artifacts issued at par 10,000 shares of 2%, $50 par preferred stock for cash. On October 14, Istanbul Artifacts issued for cash 7,500 shares of 2%, $50 par preferred stock at $54.
Journalize the entries to record the July 6, August 30, and October 14 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...