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The Golden Mushroom has two classes of stock authorized: 9 %, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity
The Golden Mushroom has two classes of stock authorized: 9 %, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 21 February 6 Issues 100,000 shares of common stock for $22 per share.. Issues 1,700 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $27 per share. December 15 Resells 5,500 shares of treasury stock at $32 per share. Journal entry worksheet 1 2 3 Record the issuance of 100,000 shares of common stock for $22 per share. Note: Enter debits before credits. Date January 02, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the issuance of 1,700 shares of 9% preferred stock for $11 per share. Note: Enter debits before credits. Date February 06, 2024 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 Record the purchase of 11,000 shares of its own common stock for $27 per share. Note: Enter debits before credits. Date September 10, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Record the resale of 5,500 shares of treasury stock at $32 per share. Note: Enter debits before credits. Date December 15, 2024 General Journal Debit Credit View general journal Clear entry Record entry
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