Journal Entry Question #3. Record the following capital stoc…
Journal Entry Question #3. Record the following capital stock transactions in the text box below. (See journal entry instructions above.) Skip a line between entries. Document your calculations for the transactions in the calculations question below the journal entry form. May 1 : 10,000 shares of $1 par value, common stock were issued for cash at $5 per share May 7 : 5,000 shares of 6% $10 par value, preferred stock were issued for cash at $20 per share Nov 2 : 3,000 shares of common stock were repurchased (treasury stock) at $2 per share Dec 10 : 1,000 shares of the treasury stock were reissued for cash at $6 per share Note: Paid-in Capital in Excess of Par (aka: Additional Paid-in Capital) may be abbreviated as APIC).
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