Entries for Issuing StockOn January 22, Micah Corporation issued for cash 125,000 shares of no-par common stock at $6. On February 14, Micah Corporation issued at par value32,000 shares of preferred 2% stock, $80 par for cash. On August 30, Micah Corporation issued for cash 7,000 shares of preferred 2% stock, $80 par at$94.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. 2288Feb. 14Aug. 30

The journal entries are prepared to keep the record of day to day transactions of the business.

Answered: n January 22, Micah Corporation issued…

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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