The charter gives Mack the authority to issue 20,000 shares of $25 par value preferred stock and 100,000 shares of $10 par value common stock. June1Issued 4,000 shares of preferred stock at $28 per share. 4Issued 5,000 shares of common stock at $16 per share. 13Issued 6,000 shares of common stock at $18 per share. 21Issued 1,000 shares of preferred stock at $30 per share. July 22Issued 10,000 shares of $5 par common stock for $43,000 cash. 28Issued 6,000 shares of $5 par common stock for $33,000 cash. 31Issued 4,000 shares of $12 par, 7% preferred stock for $53,000 cash. Journalize the above transactions(Omit explanations)
The charter gives Mack the authority to issue 20,000 shares of $25 par value preferred stock and 100,000 shares of $10 par value common stock. June1Issued 4,000 shares of preferred stock at $28 per share. 4Issued 5,000 shares of common stock at $16 per share. 13Issued 6,000 shares of common stock at $18 per share. 21Issued 1,000 shares of preferred stock at $30 per share. July 22Issued 10,000 shares of $5 par common stock for $43,000 cash. 28Issued 6,000 shares of $5 par common stock for $33,000 cash. 31Issued 4,000 shares of $12 par, 7% preferred stock for $53,000 cash. Journalize the above transactions(Omit explanations)
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10EB: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first...
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The charter gives Mack the authority to issue 20,000 shares of $25 par value
June1Issued 4,000 shares of preferred stock at $28 per share.
4Issued 5,000 shares of common stock at $16 per share.
13Issued 6,000 shares of common stock at $18 per share.
21Issued 1,000 shares of preferred stock at $30 per share.
July 22Issued 10,000 shares of $5 par common stock for $43,000 cash.
28Issued 6,000 shares of $5 par common stock for $33,000 cash.
31Issued 4,000 shares of $12 par, 7% preferred stock for $53,000 cash.
Journalize the above transactions(Omit explanations)
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