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Journalise ( Provide all working) a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5. b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share. c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

Journalise ( Provide all working) a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5. b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share. c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Journalise ( Provide all working)

a.) Jan 13th, issued 15,000 common shares for cash at $8 per share. The par value of common stock is $0.50, and issued 19,000 preferred shares for cash at $45 per share. The par value of preferred stock is $5.

b.) March 31th, the company purchased 13,000 common shares back from the market for cash $3 per share.

c.) March 31st, declared and paid a cash dividend of $0.20 per share of common stock and preferred stock. Use the shares that were exchanged between Jan 13-March 31.

 

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