Question
The following is the Stockholders Equity section of Shaq & Co. at December 31, 2020: 12/31/2020 Common stock, $5 par value, (1,800,000 shares issued and
The following is the Stockholders Equity section of Shaq & Co. at December 31, 2020: 12/31/2020 Common stock, $5 par value, (1,800,000 shares issued and outstanding) $9,000,000 Additional paid-in-capital CS $11,000,000 Retained Earnings $7,500,000 The following transactions occurred during 2021: 1 100,000 shares of common stock were purchased for the treasury at $35 per share 2 Preferred stock was issued for land. The asking price of the land was $900,000. The value of the land was $840,000. 3 40,000 shares of treasury stock were sold at $38 per share 4 40,000 shares of treasury stock were sold at $35 per share 5 The remaining 20,000 shares of treasury stock were sold at $22 per share Journalize the 5 transactions above
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