On February 13, Elman Corporation issued for cash 75,000 shares of no-par common stock (with a stated value of $125) at $140. On September 9, Elman issued 15,000 shares of 1%, $60 preferred stock at par for cash. On November 23, Elman issued for cash 8,000 shares of 1%, $60 par preferred stock at $70. Journalize the entries to record the February 13, September 9, and November 23 transactions.
On February 13, Elman Corporation issued for cash 75,000 shares of no-par common stock (with a stated value of $125) at $140. On September 9, Elman issued 15,000 shares of 1%, $60 preferred stock at par for cash. On November 23, Elman issued for cash 8,000 shares of 1%, $60 par preferred stock at $70. Journalize the entries to record the February 13, September 9, and November 23 transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On February 13, Elman Corporation issued for cash 75,000 shares of no-par common
stock (with a stated value of $125) at $140. On September 9, Elman issued 15,000 shares
of 1%, $60
shares of 1%, $60 par preferred stock at $70.
transactions.
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