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Pharoah Company had these transactions during the current period. June 12 Issued 81,500 shares of $1 par value common stock for cash of $305,625.
Pharoah Company had these transactions during the current period. June 12 Issued 81,500 shares of $1 par value common stock for cash of $305,625. July 11 Nov. 28 Purchased 3,050 shares of treasury stock for $9,800. Issued 4,150 shares of $100 par value preferred stock for cash at $107 per share. Prepare a tabular summary to record the Pharoah 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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