View Policies Current Attempt in Progress Novak Corporation's charter authorized issuance of 93,000 shares of $10 par value common stock and 47.700 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. Issued a $9,100, 10% bond payable at par and gave as a bonus one share of preferred stock, which at that time was selling for $102 a share. Issued 500 shares of common stock for equipment. The equipment had been appraised at $7.100; the seller's book value was $5,600. The most recent market price of the common stock is $16 a share. Issued 340 shares of common and 100 shares of preferred for a lump sum amounting to $11,600. The common had been selling at $14 and the preferred at $63. Issued 210 shares of common and 54 shares of preferred for equipment. The common had a fair value of $16 per share: the equipment has a fair value of $6,300. 1. 2. 3. 4. Record the transactions listed above in journal entry form. (Round Round intermediate calculations to 6 decimal places, cs.0.546872 and final answers to decimal places, es. $38,487. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explonation Debit 1. Credit Cash Discount on Bonds Payable Bonds Payable Preferred Stock Pald-in Capital in Excess of Par. Preferred Stock 2 Equipment Common Stock Paldin Capitistin Excess of Par. Common Stock 3 Cash Preferred Stock Paldin Capital in Excent of Par Preferred Stock No. Account Titles and Explanation Debit Credit 1. Cash Discount on Bonds Payable Bonds Payable Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock 2. Equipment Common Stock Paid-in Capital in Excess of Par. Common Stock 3 . Cash Preferred Stock Paid-in Capital in Excess of ParI Preferred Stock Common Stock Paid-in Capital in Excess of Par. Common Stock 4 Equipment Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paldin Capital in Excess of Par Common Stock