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On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Muir issued at par 7,000 shares of 7%, $75 par preferred stock for cash. On August 30, Muir Corporation issued for cash 14,000 shares of preferred 7% stock, $75 par at $81. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Muir issued at par 7,000 shares of 7%, $75 par preferred stock for cash. On August 30, Muir Corporation issued for cash 14,000 shares of preferred 7% stock, $75 par at $81. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Corporate Financial Accounting
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 12.2BE
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Entries for Issuing Stock

On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Muir issued at par 7,000 shares of 7%, $75 par preferred stock for cash. On August 30, Muir Corporation issued for cash 14,000 shares of preferred 7% stock, $75 par at $81.

Journalize the entries to record the January 22, February 14, and August 30 transactions.
For a compound transaction, if an amount box does not require an entry, leave it blank.

 

U VLA Calculator 1. MC.13-063 Entries for Issuing Stock 2. MC.13-066 On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Muir issued at par 7,000 shares of 7%, $75 par preferred stock for cash. On August 30, Muir Corporation issued for cash 14,000 shares of preferred 7% stock, $75 par at $81. 3. MC.13-067 Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. МС. 13-069 Jan. 22 5. MC.13-071 Feb. 14 MC.13-072 MC.13-073 Aug. 30 МС. 13-074 MC.13-075 10. MC.13-081 11. MC.13-091 12. MC.13-093 13. МC. 13-097 14. MC. 13-099 15. MC. 13-100 16. MC. 13-107 17. MC. 13-108 18. MC.13-110 19. MC.13-111 20. MC.13-120 21. MC. 13-129 22. MC.13-131 23. MC.13-134 24. MC.13-138 25. MC.13-140 26. MA.13-149 27. PE.13-02.ALGO Previous Next Progress: 27/30 items Time Remaining: 0:44:49 All work saved. Submit Test for Grading 7:41 PM P Type here to search A O D 4) 10/2/2020
Transcribed Image Text:U VLA Calculator 1. MC.13-063 Entries for Issuing Stock 2. MC.13-066 On January 22, Muir Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Muir issued at par 7,000 shares of 7%, $75 par preferred stock for cash. On August 30, Muir Corporation issued for cash 14,000 shares of preferred 7% stock, $75 par at $81. 3. MC.13-067 Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. МС. 13-069 Jan. 22 5. MC.13-071 Feb. 14 MC.13-072 MC.13-073 Aug. 30 МС. 13-074 MC.13-075 10. MC.13-081 11. MC.13-091 12. MC.13-093 13. МC. 13-097 14. MC. 13-099 15. MC. 13-100 16. MC. 13-107 17. MC. 13-108 18. MC.13-110 19. MC.13-111 20. MC.13-120 21. MC. 13-129 22. MC.13-131 23. MC.13-134 24. MC.13-138 25. MC.13-140 26. MA.13-149 27. PE.13-02.ALGO Previous Next Progress: 27/30 items Time Remaining: 0:44:49 All work saved. Submit Test for Grading 7:41 PM P Type here to search A O D 4) 10/2/2020
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