On April 1, 8,000 shares of $7 par common stock were issued at $25, and on April 7, 2,000 shares of $70 par preferred stock were issued at $107. Journalize the entries for April 1 and 7 using the chart of accounts below. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preffered Stock Preferred Stock Retained Earnings Treasury Stock unter your answers into the table below. ey the account names carefully (exactly as shown above) and follow formatting instructions below. O NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. HEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK Date Account Debit Credit
On April 1, 8,000 shares of $7 par common stock were issued at $25, and on April 7, 2,000 shares of $70 par preferred stock were issued at $107. Journalize the entries for April 1 and 7 using the chart of accounts below. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preffered Stock Preferred Stock Retained Earnings Treasury Stock unter your answers into the table below. ey the account names carefully (exactly as shown above) and follow formatting instructions below. O NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. HEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK Date Account Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On April 1, 8,000 shares of $7 par common stock were iSsued at $25, and on April 7, 2,000 shares of $70 par preferred stock were issued at $107.
Journalize the entries for April 1 and 7 using the chart of accounts below.
Cash
Common Stock
Paid-In Capital in Excess of Par-Common Stock
Paid-In Capoital in Excess of Par-Preffered Stock
Preferred Stock
Retained Earnings
Treasury Stock
Enter your answers into the table below.
Key the account names carefully (exactly as shown above) and follow formatting instructions below.
DO NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY.
WHEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK
Date
Account
Debit
Credit
Apr. 1
pr. 7
UESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos).
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