Fagan Co. had these transactions during the current period. June 12 Issued 80,000 shares of $1 par
Question:
Fagan Co. had these transactions during the current period.
June 12 Issued 80,000 shares of $1 par value common stock for cash of $300,000.
July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share.
Nov. 28 Purchased 2,000 shares of treasury stock for $9,000.
Instructions Prepare the journal entries for the Fagan Co. transactions shown on page 605.AppendixLO1
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