Ivanhoe Company had these transactions during the current period. June 12 July 11 Nov. 28 Issued 82,500 shares of $1 par value common stock for cash of $309,375. Issued 3,450 shares of $100 par value preferred stock for cash at $104 per share. Purchased 2,650 shares of treasury stock for $8,450. Prepare a tabular summary to record the Ivanhoe Company transactions. Include margin explanations for the changes in revenues a expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the
Ivanhoe Company had these transactions during the current period. June 12 July 11 Nov. 28 Issued 82,500 shares of $1 par value common stock for cash of $309,375. Issued 3,450 shares of $100 par value preferred stock for cash at $104 per share. Purchased 2,650 shares of treasury stock for $8,450. Prepare a tabular summary to record the Ivanhoe Company transactions. Include margin explanations for the changes in revenues a expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ivanhoe Company had these transactions during the current period.
June 12
July 11
Nov. 28
Prepare a tabular summary to record the Ivanhoe Company transactions. Include margin explanations for the changes in revenues and
expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the
amount entered for the particular Asset, Liability or Equity item that was reduced.)
June 22
July 11
Nov. 28
Issued 82,500 shares of $1 par value common stock for cash of $309,375.
Issued 3,450 shares of $100 par value preferred stock for cash at $104 per share.
Purchased 2,650 shares of treasury stock for $8,450.
4
$
Assets
Cash
$
Liabilities
$
Common Stock
+ PIC in Excess of I
$
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