Overton Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $1

Question:

Overton Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $1 ordinary shares to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate.
June 12 Issued 60,000 shares of $1 ordinary shares for cash of $375,000.
July 11 Issued 1,000 shares of $100 preference shares for cash at $110 per share.
Nov. 28 Purchased 2,000 treasury shares for $80,000.

Instructions
Journalize the above transactions.

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,...