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Record the journal entries for the following transactions for T5, Inc a calendaryear corporation: 1/1/18 Organized with 200,000 shares authorized of 7% cumulative preferred stock,
Record the journal entries for the following transactions for T5, Inc a calendaryear corporation:
1/1/18 Organized with 200,000 shares authorized of 7% cumulative preferred stock, $100 par value; 400,000 shares of $2 par value common stock
1/2/18 Issued 15,000 shares of preferred stock @ par
1/3/18 Issued 150,000 shares of common stock @ $14/share
12/31/19 The company repurchased 50,000 shares of its common stock @ $20/share
6/15/20 The company reissued 25,000 shares of its Treasury stock @ $25/share
Thank you!!!
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