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Exercise 15-6 Pina Corporation is authorized to issue 48,000 shares of $5 par value common stock. During 2017, Pina took part in the following selected
Exercise 15-6 Pina Corporation is authorized to issue 48,000 shares of $5 par value common stock. During 2017, Pina took part in the following selected transactions 1. Issued 4,600 shares of stock at $48 per share, less costs related to the issuance of the stock totaling $8,100. 2. Issued 1,000 shares of stock for land appraised at $48,000. The stock was actively traded on a national stock exchange at approximately $49 per share on the date of issuance 3. Purchased 490 shares of treasury stock at $45 per share. The treasury shares purchased were issued in 2013 at $42 per share (a) Prepare the journal entry to record item 1 (b) Prepare the journal entry to record item 2. (c) Prepare the journal entry to record item 3 using the cost method rthe account titles (Credit account titles are automatically indented when amount is entered. Do not indent manualy. If n) entry s regu red select and enter 0 for the amounts.) NO Entr
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