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Cullumber Company had these transactions during the current period. June 12 Issued 82,000 shares of $1 par value common stock for cash of $307,500. July
Cullumber Company had these transactions during the current period. June 12 Issued 82,000 shares of $1 par value common stock for cash of $307,500. July 11 Issued 2,500 shares of $105 par value preferred stock for cash at $112 per share. Nov. 28 Purchased 1,850 shares of treasury stock for $9,200. Prepare a tabular summary to record the Cullumber Company transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities + Stockholders' Equity Paid-in-Capital + PIC in Excess of + Pref. Stock PIC in Excess of + PT Treasury Par Com. Par Pref. Stock Retained Earnings - comment + PIC in tears Common Stock er Stock - Picha eng or event Cash = Revenue - Expense. Divide + Revenue - Expense - Dividend June 22 $ $ $ July 11 Nov. 28
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