Concord Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,200 for services performed in helping the company to incorporate. Issued 64,900 shares of $5 par value common stock for cash of $409,200. Issued 1,175 shares of $100 par value preferred stock for cash at $130 per share. June 12 July 11 Nov. 28 Purchased 3,000 shares of treasury stock for $82,500. Journalize the 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.)
Concord Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,200 for services performed in helping the company to incorporate. Issued 64,900 shares of $5 par value common stock for cash of $409,200. Issued 1,175 shares of $100 par value preferred stock for cash at $130 per share. June 12 July 11 Nov. 28 Purchased 3,000 shares of treasury stock for $82,500. Journalize the 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.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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