The Golden Mushroom has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 February 6 Issues 100,000 shares of common stock for $19 per share. Issues 1,400 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $24 per share. December 15 Required: Resells 5,500 shares of treasury stock at $29 per share. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No 1 Date General Journal Debit Credit January 02, 2024 Cash 1,900,000 Common Stock Additional Paid-in Capital 1,000,000 900,000

The Golden Mushroom has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 February 6 Issues 100,000 shares of common stock for $19 per share. Issues 1,400 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $24 per share. December 15 Required: Resells 5,500 shares of treasury stock at $29 per share. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No 1 Date General Journal Debit Credit January 02, 2024 Cash 1,900,000 Common Stock Additional Paid-in Capital 1,000,000 900,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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