Entries for Issuing Stock On January 22, Muir Corporation issued for cash 30,000 shares of no-par common stock at $45. On February 14, Muir issued at par value 3,000 shares of preferred 8% stock, $60 par for cash. On August 30, Muir issued for cash 31,000 shares of preferred 8% stock, $60 par at $64. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

Entries for Issuing Stock On January 22, Muir Corporation issued for cash 30,000 shares of no-par common stock at $45. On February 14, Muir issued at par value 3,000 shares of preferred 8% stock, $60 par for cash. On August 30, Muir issued for cash 31,000 shares of preferred 8% stock, $60 par at $64. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

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

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 17E

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