Journalize the entries to record
How do i do PR 12-3A
Common stock: These are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receive a share of profit from the profits earned by the corporation in the form of dividend.
Preferred stock: The stock that provides a fixed amount of return (dividend) to its stockholder before paying dividends to common stockholders is referred as preferred stock.
Cash dividends: The amount of cash provided by a corporation out of its distributable profits to its shareholders as a return for the amount invested by them is referred as cash dividends.
Treasury Stock: It refers to the shares that are reacquired by the corporation that are already issued to the stockholders, but reacquisition does not signify retirement.
Journalize the entries to record the transactions.
A.
Record the issuance of common stock.
B.
Record the issuance of par value preferred stock.
C.
Record the purchase of 150,000 shares of treasury common stock at $10 per share.
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