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can someone do it asap Barton Corporation began a very lucrative consulting operation on October 1, 2014. They are authorized to issue 500,000 shares of
can someone do it asap
Barton Corporation began a very lucrative consulting operation on October 1, 2014. They are authorized to issue 500,000 shares of $3.00 cumulative preferred shares. They are also authorized to issue 650,000 common shares. a. October 3: Issued 13,000 preferred shares at $3.30 per share for cash. b. October 4 : Gave the corporation's promoters 10,000 common shares for their services in organizing the corporation. The directors valued the services at $30,000 c. October 8: 12,000 of the common shares were issued for a total of $39,600 cash. d. October 13: 5,000 common shares were issued in exchange for land valued at $25,000. e. October 24 : 8,000 of the preferred shares were issued for a total of $64,800 cash. f. October 31: In addition to the declaration of the annual dividend on the preferred shares, dividends of $13,500 were declared on the common shares today Prepare journal entries for the above transactions, entering the transaction letter as the explanation. Also, enter dates in the format dd/mmm (ie. 15/Jan). General Journal Account/Explanation Page Gj1 F Debit Credit Date - 11 - +Step by Step Solution
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