Aasignment Gradebook ORION Downloadable eTextbook CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Domaview 11-20 Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for organization costs. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $5 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded: (Record journal entries in the order presented in the problem. Credit account title are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Apr.1 Cash Common Stock Paldin Capital in Excess of Par-Common Stock Apr 19 Other Operating Expenses Common Stock Paldin Capital in Excess of Par Common Stock (To record issuance of common stock for attorney's fees) Apr 19 Cash Preferred Stock Paid-in Capital in Excets of Par-Preferred Stock (to recordance of Preferred stock for cash) I 2000:2021. Wiley. Inc. All Rights Reserved. A Division of John Wiley Sons, Inc. Veron MacBook Pro Aasignment Gradebook ORION Downloadable eTextbook CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Domaview 11-20 Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for organization costs. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $5 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded: (Record journal entries in the order presented in the problem. Credit account title are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Apr.1 Cash Common Stock Paldin Capital in Excess of Par-Common Stock Apr 19 Other Operating Expenses Common Stock Paldin Capital in Excess of Par Common Stock (To record issuance of common stock for attorney's fees) Apr 19 Cash Preferred Stock Paid-in Capital in Excets of Par-Preferred Stock (to recordance of Preferred stock for cash) I 2000:2021. Wiley. Inc. All Rights Reserved. A Division of John Wiley Sons, Inc. Veron MacBook Pro
