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Prepare journal entries, if required for the following items, which I don't understand? 1)Sold 250,000 shares common stock at $5 cash each, $.01 par value
Prepare journal entries, if required for the following items, which I don't understand?
1)Sold 250,000 shares common stock at $5 cash each, $.01 par value
2)Bought back 1,000 shares of company common stock at $6 a share to use for management incentives etc.
3)Issued 100,000 shares of preferred stock for cash, $0.10 par value, for $30 a share.
4)Company declared a 2 for 1 stock split when there were 2,000,000 shares outstanding.
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