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Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value common stock for cash at $14 per share. On April 19, it issued 2,450 shares of common stock to attorneys in settlement of their bill of $26,900 for organization costs. In addition, Whispering Winds issued 1,150 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Apr. 19 v Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock (To record issuance of Preferred stock for cash) 69000 DUN 1150 575000

Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value common stock for cash at $14 per share. On April 19, it issued 2,450 shares of common stock to attorneys in settlement of their bill of $26,900 for organization costs. In addition, Whispering Winds issued 1,150 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Apr. 19 v Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock (To record issuance of Preferred stock for cash) 69000 DUN 1150 575000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value common stock for cash at $14 per share. On April 19, it issued 2,450 shares of common stock to attorneys in settlement of their bill of $26,900 for organization costs. In addition, Whispering Winds issued 1,150 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Apr. 19 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock (To record issuance of Preferred stock for cash) 69000 1150 575000
Transcribed Image Text:Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value common stock for cash at $14 per share. On April 19, it issued 2,450 shares of common stock to attorneys in settlement of their bill of $26,900 for organization costs. In addition, Whispering Winds issued 1,150 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Apr. 19 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock (To record issuance of Preferred stock for cash) 69000 1150 575000
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