On February 13 Epperson company issued for cash 80,000 shares of no part common stock (with a stand value of $100) at $135. On September 9 Epperton issued at par 25,000 shares of one percent, $45 par preferred stock at par for cash. On November 23 Epperson issued for cash 7600 shares of one percent $60 par preferred stock at $80. Required: Journalize the entries to record the February 13, September 9 and November 23 transaction

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.