Q18

please show all the formulas and where you got the numbers.

Check my work 18 During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders' equity. The articles of incorporation authorized the issue of 8 million common shares,. $1 par per share, and 2 million preferred shares, $50 par per share. 0.35 points Feb. 12 Sold 4 million common shares, for $10 per share. 13 Issued 47,008 common shares to attorneys in exchange for legal services. 13 Sold 75,800 of its common shares and 4,500 preferred shares for a total of $995,eee Nov. 15 Issued 388,e0e of its comnon shares in exchange for equipment for which the cash price was known to be $3,828,ee0. eBook Print References Required: Prepare the appropriate journal entries to record each transaction. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field . Enter your answers in whole dollars.) View transaction list Journal entry worksheet Sold 75,000 of its common shares and 4,500 preferred shares for a total of S995,000 Note: Enter debits before credits Pre 18 ofNext> Help Save & Exit Submit 18 HW O Check my work 18 View transaction list 0.35 points Journal entry worksheet eBook Sold 75,000 of its common shares and 4,500 preferred shares for a total of $995,000 Print Note: Enter debits before oredits Debit February 13 Cash 995,000 5.000 Common stock aid-in capital-excess of par, common Preferred stock aid-in capital-excess of par preferred 225 000 Record entry Clear entry Fiew general journal Prey 18 of 40 li Next > 18 HW 6 Saved Help Save & Exit Submit Check my work 18 View transaction list 0.35 points Journal entry worksheet eBook Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,828,000. Print References Note: Enter debits before credits Date General Journal Debit Credit Record entry Clear entry View general journal Prev 18 of 40 Next >