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Cullumber Company had these transactions during the current period. June 12 July 11 Issued 82,000 shares of $ 1 par value common stock for cash
Cullumber Company had these transactions during the current period. June 12 July 11 Issued 82,000 shares of $ 1 par value common stock for cash of $ 307,500. Issued 2,500 shares of $ 100 par value preferred stock for cash at $ 107 per share. Purchased 1,850 shares of treasury stock for $ 9,200 Nov. 28 Prepare a tabular summary to record the Cullumber Company transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Common Stock + PIC in Excess June 22 $ $ $ July 11 Nov. 28 e Textbook and Media Stockholders' Equity Paid-in-Capital Pref. Stock + PIC in Excess of Par Pref. Treasury Stock Revenue $ $ $ Retained Earnings Expense Dividend $ Paid-in-capital in excess of preferred stock Common stock Interest expense Dividends Pald-in-capital in excess of common stock Preferred stock Textbook and Media
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