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Need help with excess of par for common and preferred stock. Brief Exercise 15-4 Your answer is partially correct. Try again. Skysong Corporation issued 384
Need help with excess of par for common and preferred stock.
Brief Exercise 15-4 Your answer is partially correct. Try again. Skysong Corporation issued 384 shares of $10 par value common stock and 144 shares of $50 par value preferred stock for a lump sum of $19,872. The common stock has a market price of $20 per share, and the preferred stock has a market price of $100 per share. prepare the journal entry to record the issuance. Round intermediate calcu ations to 6 de mal places, e. 546872 and i a answers to deci a pi ces, e.g. 1,520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Cash 19872 Preferred Stock 7200 Paid-in Capital in Excess of Par Preferred Stock Common Stock 3840 Paid-in Capital in Excess of Par-Common Stock 6912Step by Step Solution
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