Rice Corporation issued 10,000 shares of no-par common stock for $25 per share. Rice also issued 3,000

Question:

Rice Corporation issued 10,000 shares of no-par common stock for $25 per share. Rice also issued 3,000 shares of $40 par, 6 percent noncumulative preferred stock at $42 per share.

Required

a. Record these events in a horizontal statements model like the following one. In the cash flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event.

Rice Corporation issued 10,000 shares of no-par common stock for

b. Prepare journal entries to record these 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...