Please help me with correct answer thanku Issuing StockWillow Creek Nursery, with an authorization of 22,000 shares of preferred stock and 380,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. Thetrial balance at the dose of the day follows:CashLandBuildingsPreferred 2% Stock, $100 parPaid-In Capital in Excess of Par-Preferred StockCommon Stock, 140 parPaid-In Capital in Excess of Par-Common Stock437,400112,000227,900Common StockPoid-In Capital in Excess of Par-Common Stock330,0009,900324,000113,400777,300Al shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildingsJournalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank777,300000000 2. BuidingsPreferred StockPastin Canital in Excess of ParPreferred Stock00000000

JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Issuing Stock Willow Creek Nursery, with an authorization of 22,000 shares of preferred stock and 380,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows: Cash Land Buildings Preferred 2% Stock, $100 par Paid-In Capital in Excess of Par-Preferred Stock Common Stock, 140 par Paid-In Capital in Excess of Par-Common Stock 437,400 112,000 227,900 Common Stock Prid-In Capital in Excess of Par-Common Stock 330,000 9,900 777,300 Al shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank 000 324,000 113,400 777,300 000

Issuing Stock Willow Creek Nursery, with an authorization of 22,000 shares of preferred stock and 380,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows: Cash Land Buildings Preferred 2% Stock, $100 par Paid-In Capital in Excess of Par-Preferred Stock Common Stock, 140 par Paid-In Capital in Excess of Par-Common Stock 437,400 112,000 227,900 Common Stock Prid-In Capital in Excess of Par-Common Stock 330,000 9,900 777,300 Al shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank 000 324,000 113,400 777,300 000

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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