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Issued 4,000 shares of $5 par value common stock to attorneys in paymen performed in helping the company to incorporate. Issued 62,800 shares of $5 par value common stock for cash of $387,400. Issued 1,975 shares of $100 par value preferred stock for cash at $140 pe Purchased 1.560 shares of treasury stock for $76 500

Issued 4,000 shares of $5 par value common stock to attorneys in paymen performed in helping the company to incorporate. Issued 62,800 shares of $5 par value common stock for cash of $387,400. Issued 1,975 shares of $100 par value preferred stock for cash at $140 pe Purchased 1.560 shares of treasury stock for $76 500

FINANCIAL ACCOUNTING
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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Ashvini 

Marigold Co. had the following transactions during the current period. Mar. 2 June 12 July 11 Nov. 28 Issued 4,000 shares of $5 par value common stock to attorneys in payment of a bill for $24,700 for services performed in helping the company to incorporate. Issued 62,800 shares of $5 par value common stock for cash of $387,400. Issued 1,975 shares of $100 par value preferred stock for cash at $140 per share. Purchased 1,560 shares of treasury stock for $76,500. 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.)
Transcribed Image Text:Marigold Co. had the following transactions during the current period. Mar. 2 June 12 July 11 Nov. 28 Issued 4,000 shares of $5 par value common stock to attorneys in payment of a bill for $24,700 for services performed in helping the company to incorporate. Issued 62,800 shares of $5 par value common stock for cash of $387,400. Issued 1,975 shares of $100 par value preferred stock for cash at $140 per share. Purchased 1,560 shares of treasury stock for $76,500. 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.)
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