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Share Issuances for Cash Minaret, Inc., issued 10,000 shares of 50 par value preferred stock at $68 per share and 12,000 shares of no par
Share Issuances for Cash Minaret, Inc., issued 10,000 shares of 50 par value preferred stock at $68 per share and 12,000 shares of no par value common stock at $15 per share. The common stock has no stated value. All issuances were for cash . Prepare the journal entries to record the share issuances b. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of 54 per share Prepare the journal entry for the swance of the common stock assuming that it had a par value of 2 per share Het Debit Credit General Journal Description Cash Preferred din Capital in Ems of Par Preferred Stock od 10.000 shares offered to . O 0 ON OX OK Ov 3 OX No Prve Common Stock sued 12.000 shares of our valut comunenstock Catch Common Stod Pad Capital in Ecosolated Value - Common Stock od 12000 shof -por contact ON O SCX OM O OX C. Cash OX 0 0 x Common Stock Paid-in-Capital in Excess of Par Value - Common Stock Issued 12,000 sharesat $2 par value common stock ats15 per share. > 0 0 X
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