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please show me how to do this! thank you! Issuing Stock Willow Creek Nursery, with an authorization of 22,000 shares of preferred stock and 150,000
please show me how to do this! thank you!
Issuing Stock Willow Creek Nursery, with an authorization of 22,000 shares of preferred stock and 150,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows: Cash 347,700 Land 76,000 Buildings 152,800 Preferred 2% Stock, $100 par 220,000 Paid-in Capital In Excess of Par-Preferred Stock 8,800 Common Stock, $40 par 244,000 Paid-In Capital in Excess of Par-Common Stock 103,700 576,500 576,500 All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank. (1) Preferred 2% Stock, $100 par 220,000 Paid-In Capital in Excess of Par-Preferred Stock 8,800 Common Stock, $40 par 244,000 Paid-In Capital in Excess of Par-Common Stock 103,700 576,500 576,500 All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and build Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank. Step by Step Solution
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