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I ONLY need the transactions for Nov 25, the accounts are correct but i dont know how to figure out the Debit and Credit value
I ONLY need the transactions for Nov 25, the accounts are correct but i dont know how to figure out the Debit and Credit value !
During 2015, the following transactions occurred. (Click the icon to view the transactions.) Requirements Requirement 1. Journalize the transactions. (Record debits first, then credits. Explanations are not Mar 2. 22,000 preferred shares were issued at 27.00 per share Data Table reholders' Equity Share Capital: Journal Entry Preferred Shares, $2, accumulated deferred dividends Date Accounts Debit Credit 250,000 shares authorized, 50,000 issued and outstanding Common Shares, unlimited number of shares authorized S 1,200,000 Mar 2 Cash 594,000 Preferred Shares 594,000 250,000 shares issued and outstanding 5,500.000 475,000 5 7,175,000 Retained Earnings Total Shareholders' Equity Apr 1. 30,000 common shares were issued in exchange for a building with a fair value of $750,000 Journal Entry Print Done Date Debit Credit Apr 1Building 750,000 More Info Common Shares 750,000 Mar 2 22,000 preferred shares were issued at $27.00 per share Apr 1 30,000 common shares were issued in exchange for a building with a fair value of Nov 25. Declared preferred dividends to be paid on December 23 $750,000 Nov 25 Declared preferred dividends to be paid on December 23. Dec 27 Declared 10% common stock dividend, when the market price was $29, to be Journal Entry Date Accounts Debit Credit distributed on January 30, 2016. Dec 31 Net income for the year was $550,000 Nov 25 Retained Earnings Dividends Payable Preferred PrintDone
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