Question
How would I write the following as journal entries assuming they accured in chronicological order? Issued 6,000 shares of $100 par value preferred stock at
How would I write the following as journal entries assuming they accured in chronicological order?
Issued 6,000 shares of $100 par value preferred stock at par.
Issued 7,200 shares of $100 par value preferred stock in exchange for land that had an appraised value of $756,000.
Issued 68,000 shares of $5 par value common stock for $12 per share.
Purchased 28,000 shares of common stock for the treasury at $15 per share.
Sold 18,000 shares of the treasury stock purchased in transaction d for $17 per share.
Declared a cash dividend of $2.50 per share on the preferred stock outstanding, to be paid early next year.
Declared and issued a 12% stock dividend on the common stock when the market price per share of common stock was $30.
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