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B. Prepare the entries in general journal form to record each of the following unrelated transactions. (Omit explanations.) (1) Erickson Corp. issued 20,000 shares of
| B. Prepare the entries in general journal form to record each of the following unrelated transactions. | |||||||
| (Omit explanations.) | |||||||
| (1) Erickson Corp. issued 20,000 shares of $50 par common stock for cash at $60 per share. | |||||||
| JOURNAL | PAGE | ||||||
| DATE | DESCRIPTION | POST REF. | DEBIT | CREDIT | |||
| 1 | 1 | ||||||
| 2 | 2 | ||||||
| 3 | 3 | ||||||
| 4 | 4 | ||||||
| 5 | 5 | ||||||
| 6 | 6 | ||||||
| 7 | 7 | ||||||
| (2) Felix Corp. issued 10,000 shares of $10 par common stock in exchange for new manufacturing | |||||||
| equipment with a fair market value of $145,000. | |||||||
| JOURNAL | PAGE | ||||||
| DATE | DESCRIPTION | POST REF. | DEBIT | CREDIT | |||
| 1 | 1 | ||||||
| 2 | 2 | ||||||
| 3 | 3 | ||||||
| 4 | 4 | ||||||
| 5 | 5 | ||||||
| 6 | 6 | ||||||
| 7 | 7 | ||||||
| (3) Huddley Corp. issued 10,000 shares of $25 par preferred stock for cash at $30 per share. | |||||||
| JOURNAL | PAGE | ||||||
| DATE | DESCRIPTION | POST REF. | DEBIT | CREDIT | |||
| 1 | 1 | ||||||
| 2 | 2 | ||||||
| 3 | 3 | ||||||
| 4 | 4 | ||||||
| 5 | 5 | ||||||
| 6 | 6 | ||||||
| 7 | 7 | ||||||
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