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June 12 Issued 87,000 shares of $1 par value common stock for cash of $326,250. July 11 Issued 2,800 shares of $100 par value preferred
June 12 Issued 87,000 shares of $1 par value common stock for cash of $326,250. July 11 Issued 2,800 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 3,450 shares of treasury stock for $8,250. Prepare a tabular summary to record the Crane Company transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Crane Company had these transactions during the current period. June 12 Issued 87,000 shares of $1 par value common stock for cash of $326,250. July 11 Issued 2,800 shares of $100 par value preferred stock for cash at \$106 per share. Nov. 28 Purchased 3,450 shares of treasury stock for $8,250. Prepare a tabular summary to record the Crane Company transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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