Entries for Issuing Stock On January 22, Muir Corporation issued for cash 24,000 shares of no-par...
Entries for Issuing Stock
On January 22, Muir Corporation issued for cash 24,000 shares of no-par common stock at $30. On February 14, Muir issued at par 5,000 shares of 3%, $60 par preferred stock for cash. On August 30, Muir Corporation issued for cash 20,000 shares of preferred 3% stock, $60 par at $64.
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.
| Jan. 22 | |||
| Feb. 14 | |||
| Aug. 30 | |||
Homework Answers
| Date | Account title | Debit | credit |
| Jan 22 | cash | 24000 | |
| Common stock | 24000 | ||
| Feb 14 | cash (5000*60) | 300000 | |
| Preferred stock | 300000 | ||
| Aug 30 | cash (20000*64) | 1280000 | |
| Preferred stock (20000*60) | 1200000 | ||
| Paid in capital in excess of par -preferred stock | 80000 |
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Question 2
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2 Need this solved asap please. help me with the proper solutions. Entries for Issuing Stock...
2
Need this solved asap please. help me with the proper
solutions.
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Question 2
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2
Need this solved asap please. help me with the proper
solutions.
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