issued 2,000 shares of preferred stock at $ 105 per share. Sep. 3 issued 80,000 share of common stock at $13.25 per share. Oct. 11 issued 12,000 share of common stock for land valued at $ 156,000. The stock is currently trading at $ 12 per share, and the stock's trading value is a more accurate determinate of the land value. Nov. 12 issued 5,000 shares of common stock at $15 per share. Dec. 5 issued 1,000 of preferred stock at $ 112 per share. How do you journalize the transactions?
issued 2,000 shares of preferred stock at $ 105 per share. Sep. 3 issued 80,000 share of common stock at $13.25 per share. Oct. 11 issued 12,000 share of common stock for land valued at $ 156,000. The stock is currently trading at $ 12 per share, and the stock's trading value is a more accurate determinate of the land value. Nov. 12 issued 5,000 shares of common stock at $15 per share. Dec. 5 issued 1,000 of preferred stock at $ 112 per share. How do you journalize the transactions?
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 12.8EX: Issuing stock Professional Products Inc., a wholesaler of office products, was organized on February...
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