Answered You can hire a professional tutor to get the answer.
QUESTION
On January 1, 2017, the company was formed and was authorized to issue of 15000 shares of $10 par value preferred stock and 40000 shares of $1 par
On January 1, 2017, the company was formed and was authorized to issue of 15000 shares of $10 par value preferred stock and 40000 shares of $1 par value common stock
- On January 2, 2017, 20000 shares are sold on the open market at $20 per share
- On January 2 2017, 6000 shares of preferred stock are sold for cash at $9 per share
- On July 2, 2017 company purchases 1,250 shares of the common stock outstanding at $15 per share
- On august 1, 2017 the company sells 220 shares of treasury stock at $17 per share
- On sept 1, 2017, the company sells 500 shares of treasury stock at 12 per share
Prepare journal entries necessary to record transactions, identify transactions by date.If no entry necessary write "no Entry"
