Journalize the transactions. Mar. 2 June 12 July 11 Nov. 28 Date 3/2/22 6/12/22 7/11/22 1/10/22 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. Issued 60,000 shares of $5 par value common stock for cash of $375,000. Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Purchased 2,000 shares of treasury stock for $80,000. Account Debit Credit

Journalize the transactions. Mar. 2 June 12 July 11 Nov. 28 Date 3/2/22 6/12/22 7/11/22 1/10/22 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. Issued 60,000 shares of $5 par value common stock for cash of $375,000. Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Purchased 2,000 shares of treasury stock for $80,000. Account Debit Credit

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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Prepare journal entries for Eddington Corp. for the following transactions: 5/25/23: Purchased 3,000 shares of Vistavia Corp. common stock at $30 per share plus $2,700 in brokerage fees. 9/23/23: Sold 500 shares of Vistavia Corp. common stock at $28 per share.
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