Question: number of all weighted average common shares Dec 31,2018

Required: Prepare journal entries to record these transactions. Part A In late 2017, the Nicklaus Corporation The corporat shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumula ticipating preferred stock. On January 2, 2018, 3,000,000 shares of th cash at an average price of $10 per share. Also on January 2, all 1,000.000 shares of preferred stock are issu $20 per share. Required: 1. Prepare journal entries to record these transactions. was formed. The corporate charter authorizes the issuance of 5,000,000 e common stock are issued in exchange for ed at 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,000,000.)