Question
During the first half of 2017 the following transactions occurred in Amwaj Corporation: 5/Jan/2017 25/Jan/2017 Issued 25,000 common stock for $3 per share. Par value
During the first half of 2017 the following transactions occurred in Amwaj Corporation:
5/Jan/2017 25/Jan/2017 | Issued 25,000 common stock for $3 per share. Par value was $1.5 per share. Issued 10,000 common stock at par value of $4 per share, in payment of attorney bill amounted to $35,000 for service provided during incorporation. |
7/Feb/2017 | Received $6000 cash for issuing 100 preferred stock of $50 stated value. |
9/April/2017 | Purchased 2000 of its common stock for $10,000. |
15/May/2017 | Sold 1000 of its treasury stock at $7 each. |
3/June/2017 | Sold the remaining treasury stock at $2 each. |
Required:
Prepare the journal entries for all transactions.
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