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Radko Inc. had the following transactions related to its common and preferred shares: January 15 Issued 350,000 no par common shares for $15 per share.
Radko Inc. had the following transactions related to its common and preferred shares: January 15 Issued 350,000 no par common shares for $15 per share. Issued 5,000 $20 stated value preferred shares at $23 per share. November 29 Repurchased and cancelled 30,000 common shares at $21 per share. Required: Prepare the journal entries for these transactions. For a compound transaction, for those boxes in which no entry is required, leave the box blank. Jan. 15 Common Shares Preferred Shares Contributed Surplus-Preferred Shares (Record sale of preferred and common shares)
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