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Hibiscus Company had the following transactions during the current period. Mar. 2 Jun. 12 Jul. 11 Nov. 28 Issued 5,000 shares of $1 par value
Hibiscus Company had the following transactions during the current period. Mar. 2 Jun. 12 Jul. 11 Nov. 28 Issued 5,000 shares of $1 par value ordinary shares to attorneys in payment of a bill for $30,000 for services provided in helping the company incorporate. Issued 60,000 shares of $1 par value ordinary shares for cash $375,000. Issued 1,000 shares of $100 par value preference shares for cash at $110 per share. Purchased 2,000 treasury shares for $80,000. Required: Journalize the above transactions
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