12.) Oriole Corporation has 100,000 shares of $40 par value preferred stock authorized. During the year, it had the following transactions related to its preferred stock. (a) Issued 23.000 shares at $55 per share. Issued 10,500 shares for equipment having a $682,500 asking price. The stock had a market value of $70 per share. (b) Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit (a) (b)

12.) Oriole Corporation has 100,000 shares of $40 par value preferred stock authorized. During the year, it had the following transactions related to its preferred stock. (a) Issued 23.000 shares at $55 per share. Issued 10,500 shares for equipment having a $682,500 asking price. The stock had a market value of $70 per share. (b) Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit (a) (b)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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