On January 22, Shamrock Corporation issued for cash 13,000 shares of no-par common stock at $40. On February 14, Shamrock issued at par value 3,000 shares of preferred 3% stock, $50 par for cash. On August 30, Shamrock issued for cash 17,000 shares of preferred 3% stock, $50 par at $55. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.
On January 22, Shamrock Corporation issued for cash 13,000 shares of no-par common stock at $40. On February 14, Shamrock issued at par value 3,000 shares of preferred 3% stock, $50 par for cash. On August 30, Shamrock issued for cash 17,000 shares of preferred 3% stock, $50 par at $55. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Entries for Issuing Stock
On January 22, Shamrock Corporation issued for cash 13,000 shares of no-par common stock at $40. On February 14, Shamrock issued at par value 3,000 shares of
Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.
| Jan. 22 | fill in the blank 2 | fill in the blank 3 | |
| fill in the blank 5 | fill in the blank 6 | ||
| Feb. 14 | fill in the blank 8 | fill in the blank 9 | |
| fill in the blank 11 | fill in the blank 12 | ||
| Aug. 30 | fill in the blank 14 | fill in the blank 15 | |
| fill in the blank 17 | fill in the blank 18 | ||
| fill in the blank 20 | fill in the blank 21 |
Expert Solution
Step 1
Introduction:
Journals:
Recording of a business transactions in a chronological order.
First step in the preparation of final accounts is recording journals.
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