On January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On February 14, Micah Corporation issued at par value 32,000 shares of preferred 2% stock, $80 par for cash. On August 30, Micah Corporation issued for cash 7,000 shares of preferred 2% stock, $80 par at $94. 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.
On January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On February 14, Micah Corporation issued at par value 32,000 shares of preferred 2% stock, $80 par for cash. On August 30, Micah Corporation issued for cash 7,000 shares of preferred 2% stock, $80 par at $94. 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.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 6SPB: PAR AND NO-PAR, COMMON AND PREFERRED STOCK Valdez Company had the following stock transactions...
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On January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On February 14, Micah Corporation issued at par value 32,000 shares of
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