Riverbed Corp was organized on January 1, 2025. It is authorized to issue 20,300 shares of 5%, $50 par value preferred stock and 463,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 71,500 shares of common stock for cash at $6 per share. Mar. 1 May 1 Issued 11,300 shares of preferred stock for cash at $54 per share. Issued 116,500 shares of common stock for cash at $8 per share. Issued 5,300 shares of common stock for cash at $7 per share. Sept. 1 Nov. 1 Issued 3,300 shares of preferred stock for cash at $57 per share.
Riverbed Corp was organized on January 1, 2025. It is authorized to issue 20,300 shares of 5%, $50 par value preferred stock and 463,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 71,500 shares of common stock for cash at $6 per share. Mar. 1 May 1 Issued 11,300 shares of preferred stock for cash at $54 per share. Issued 116,500 shares of common stock for cash at $8 per share. Issued 5,300 shares of common stock for cash at $7 per share. Sept. 1 Nov. 1 Issued 3,300 shares of preferred stock for cash at $57 per share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalize the transactions.
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Transcribed Image Text:Riverbed Corp was organized on January 1, 2025. It is authorized to issue 20,300 shares of 5%, $50 par value preferred stock
and 463,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed
during the first year.
Jan. 10 Issued 71,500 shares of common stock for cash at $6 per share.
Issued 11,300 shares of preferred stock for cash at $54 per share.
Issued 116,500 shares of common stock for cash at $8 per share.
Issued 5,300 shares of common stock for cash at $7 per share.
Issued 3,300 shares of preferred stock for cash at $57 per share.
Mar.
1
May 1
Sept. 1
Nov. 1
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