Concord Co. had the following transactions during the current period. Issued 4,200 shares of $5 par value common stock to attorneys in paymeht of a bill for $ 25,600 for services performed in helping the company to incorporate. Mar. 2 June 12 Issued 55,500 shares of $ 5 par value common stock for cash of $ 344,000. July 11 Issued 2,725 shares of $ 100 par value preferred stock for cash at $ 130 per share. Nov. 28 Purchased 3,300 shares of treasury stock for $ 83,500.
Concord Co. had the following transactions during the current period. Issued 4,200 shares of $5 par value common stock to attorneys in paymeht of a bill for $ 25,600 for services performed in helping the company to incorporate. Mar. 2 June 12 Issued 55,500 shares of $ 5 par value common stock for cash of $ 344,000. July 11 Issued 2,725 shares of $ 100 par value preferred stock for cash at $ 130 per share. Nov. 28 Purchased 3,300 shares of treasury stock for $ 83,500.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Concord Co. had the following transactions during the current period.
Issued 4,200 shares of $5 par value common stock to attorneys in paymeht of a bill for $ 25,600 for services
performed in helping the company to incorporate.
Mar.
June 12
Issued 55,500 shares of $5 par value common stock for cash of $ 344,000.
July
11
Issued 2,725 shares of $ 100 par value preferred stock for cash at $ 130 per share.
Nov.
28
Purchased 3,300 shares of treasury stock for $83,500.
Transcribed Image Text:Journalize the transactions. (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.)
Date
Account Titles and Explanation
Debit
Credit
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