Pina Colada Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 July 1 (a) Prepare a tabular summary to record the 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.) Feb. 1 Issued 24,000 shares for cash at $51 per share. Issued 36,000 shares for cash at $56 per share. July 1 $ Assets Cash $ Liabilities + $ Common Stock + PIC in Excess of Pa Com. $

Pina Colada Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb. 1 Issued 24,000 shares for cashat \$51 per share. July 1 Issued 36,000 shares for cash at $56 per share. (a) Prepare a tabular summacy to record the transactions. Include margin explanations for the changes in revenues and expenses. Of a transaction couses a decrease in Assets, Llabiities or Stockholders' Equily, place a nejative sizn (or parentheses) in front of the amount entered for the porticular Asset, Uobility or Equity item that was reduced). Pina Colada Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 24,000 shares for cash at $51 per share. July 1 issued 36,000 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions, Include margin explanations for the changes in revenues and expenses. (If o transoction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negotive sign (or porentheses) in front of the amount entered for the porticular Asset, Liability or Equity item that was reduced.) Pina Colada Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 24,000 shares for cash at \$\$1 per share. July 1 Issued 36,000 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. ff c transaction couses a decreose in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the omount entened for the porticular Asset, Liability or Equity item that was reduced.)