View Policies Current Attempt in Progress Flint Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May 2 10 15 31 Cash Date Capital Stock (Issued 10,700 shares of $15 par value common stock at $18 per share) Cash Capital Stock (Issued 10,700 shares of $50 par value preferred stock at $60 per share) Capital Stock Cash (Purchased 1,175 shares of common stock for the treasury at $15 per share) Cash Capital Stock Gain on Sale of Stock (Sold 900 shares of treasury stock at $16 per share) Account Titles and Explanation 192,600 Debit 642,000 17,625 14,400 192,600 642,000 17,625 On the basis of the explanation for each entry, prepare the entry that should have been made for the capital stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 9,000 5,400 Credit

Flint Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure the debit entries before credit entries. Record journol entries in the order presented in the problemmedv Mr captar stock transactions. (List all When amount is entered Do not indent manually debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manualiy.)