Entries for Issuing StockOn January 22, Shamrock Corporation issued for cash 15,000 shares of no-par common stock at $30. On February 14, Shamrock issued at par value 1,000 shares of preferred 4% stock, $80 par for cash. On August 30, Shamrock issued for cash 13,000 shares of preferred 4% stock, $80 par at $90.Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.Jan. 22Cash fill in the blank 2fill in the blank 3 Common Stock fill in the blank 5fill in the blank 6Feb. 14Cash fill in the blank 8fill in the blank 9 Preferred Stock fill in the blank 11fill in the blank 12Aug. 30Cash fill in the blank 14fill in the blank 15 Preferred Stock fill in the blank 17fill in the blank 18 Paid-In Capital in Excess of Par-Preferred Stock fill in the blank 20fill in the blank 21

Journal entries are prepared to record the financial and non financial transactions of the business…

Answered: Entries for Issuing Stock On January…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

Entries for Issuing Stock

On January 22, Shamrock Corporation issued for cash 15,000 shares of no-par common stock at $30. On February 14, Shamrock issued at par value 1,000 shares of preferred 4% stock, $80 par for cash. On August 30, Shamrock issued for cash 13,000 shares of preferred 4% stock, $80 par at $90.

Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

Jan. 22	Cash	fill in the blank 2	fill in the blank 3
	Common Stock	fill in the blank 5	fill in the blank 6
Feb. 14	Cash	fill in the blank 8	fill in the blank 9
	Preferred Stock	fill in the blank 11	fill in the blank 12
Aug. 30	Cash	fill in the blank 14	fill in the blank 15
	Preferred Stock	fill in the blank 17	fill in the blank 18
	Paid-In Capital in Excess of Par-Preferred Stock	fill in the blank 20	fill in the blank 21

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions