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On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. April 1 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock April 7 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock 000 000

On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. April 1 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock April 7 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock 000 000

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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On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. April 1 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock April 7 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock
Transcribed Image Text:On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. April 1 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock April 7 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock
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