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help me check my work by journaling these. Acct 101, SManjra lem 11-1a Joumalize issuance of common stock and preferred stock. Corporation was organized on
help me check my work by journaling these.
Acct 101, SManjra lem 11-1a Joumalize issuance of common stock and preferred stock. Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares $50 par value preferred stock and 500.000 shares of no-par common stock with a value of $1 per share. The following stock transactions were completed: Jan. 10 Issued 70,000 shares of common stock for cash at $4 per share Mar. 1 Issued 12,000 shares of preferred stock for cash at $53 per share, May 1 Issued 120,000 shares of common stock for cash at $6 per share, Sept. 1 Issued 5,000 shares of common stock for cash at $5 per share, Nov. 1 Issued 3,000 shares of preferred stock for cash at $56 per share ons nalize the transactions Accounts Debit CreditStep by Step Solution
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