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Share Issuances for Cash Minaret, Inc. issued 10,000 shares of so par value preferred stock at 368 per share and 12,000 shares of no par
Share Issuances for Cash Minaret, Inc. issued 10,000 shares of so par value preferred stock at 368 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. a. Prepare the journal entries to record the share issuances. 1. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of super share c. Prepare the journal entry for the issuance of the common stock assuming that it had a par value of s2 per share. Ref. General Journal Description Credit Du Debit ONS 0 O Preferred Stock Paid in Capital in Excess of Par Value Preferred Stock Issued 10,000 shares of preferred stock Ox 3 OX Cash OX 0 OX No Par Value Common Stock Issued 12,000 shares of no par value common stock b. Common Stock Paid-in-Capital in Excess of Stated Value. Common Stock Issued 12.000 shares of no par common stock, statedvalue of SA 515 per share OM O 0 OX ON c. OX 0 Cash Common Stock Paid-in-Capital in Excess of Par Value - Common Stock Issued 12,000 sharesat $2 par value common stock at$15 per share. 07 0 X
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