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Help ASAP please! Wildhorse Co. has been authorized to issue 20,500 shares of $100 par value, 10%, noncumulative preferred stock and 1,072,400 shares of no-par
Help ASAP please! Wildhorse Co. has been authorized to issue 20,500 shares of $100 par value, 10%, noncumulative preferred stock and 1,072,400 shares of no-par common stock. The corporation assigned a $2.80 stated value to the common stock. At December 31. 2022, the ledger contained the following post-closing balances pertaining to stockholders' equity. All preferred stock was issued for land having a fair value of $145,000. All common stock issued was for cash, In November, 1,560 shares of commonstock were purchased for the treasury at a per share cost of $13. In December, 520 shares of treasury stock were sold for $16 per share. No dividends were declared in 2022. Prepare the journal entries for the following: (Credit account titles are automotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash
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