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Assume that Cookies Coffee Creations Inc. issues 1,000 50 50 noncumulative preferred shares to Curtis's...

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Accounting

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Assume that Cookies Coffee Creations Inc. issues 1,000 50 50 noncumulative preferred shares to Curtis's dad and the same number to Natale's grandmother, in both cases for $5,000. Also assume that Coolce & Coffee Creations Inc. issues 750 common shares to its lawyer Prepare the journal entries for each of these transactions. They all occurred on November 1 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Date Account Tities and Explanation Credit No. 1 Cash Preferred Stock (To record issue of preferred stock) Nov. 1 Organization Expense I common Stock (To record issue of common shares to lawyer) SHOW LIST OF ACCOUNTS COOKIE & COFFEE CREATIONS INC. Balance Sheet November 1, 2017 Current Assets I Equipment 29130 T Total Current Assets Current bites Stockholders' Equity Stockholders' Equity Work Click if you would like to Show Work for this questioni ODS

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