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Coastal Corporation issued 2 5 , 0 0 0 shares of $ 7 par value common stock at $ 1 9 per share and 6
Coastal Corporation issued shares of $ par value common stock at $ per share and shares of $ par value, eight percent preferred stock at $ per share. Later, the company purchased shares of its own common stock at $ per share.
a Prepare the journal entries to record the share issuances and the purchase of the common shares.
b Assume that Coastal sold shares of the treasury stock at $ per share. Prepare the general journal entry to record the sale of this treasury stock.
c Assume that Coastal sold the remaining shares of treasury stock at $ per share. Prepare the journal entry to record the sale of this treasury stock.
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