Please help thanks 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.CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capoital in Excess of Par-Preffered StockPreferred StockRetained EarningsTreasury StockEnter 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 BLANKDateAccountDebitCreditApr. 1pr. 7UESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos).

If the shares (common or preferred) are issued for more than a par value of a share, the excess…

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

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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