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Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 30,000 shares of no-par common stock at $25. On February 14, Limerick issued
Entries for Issuing Stock On January 22, Limerick Corporation issued for cash 30,000 shares of no-par common stock at $25. On February 14, Limerick issued at par 10,000 shares of 7%, $75 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 23,000 shares of preferred 7% stock, $75 par at $84. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Feb. 14 Cash Preferred Stock Aug. 30 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock
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