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  3. 3. during 2016, good fellow has the following tran

3. During 2016, Good fellow has the following transactions involving its common and preferred stock...

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Accounting

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3. During 2016, Good fellow has the following transactions involving its common and preferred stock a. Issued 15,000 shares of $5 par common stock for $15 a share. This brings total shares b. Issued 5,000 shares of $100 par, 6%, cumulative preferred stock for $121 per share c. When the market value of the common stock reached $15 a share, Goodfellow declareda outstanding to 50,000 shares and 100,000 shares are authorized. 3-for-1 stock split, reducing the par value to $1.67 per share. Required: Prepare a journal entry for each transaction

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