Blue Spruce Co. had the following transactions during the current period. Mar. 2...

80.2K

Verified Solution

Question

Accounting

Blue Spruce Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $29,600 for services performed in helping the company to incorporate.
June 12 Issued 63,400 shares of $5 par value common stock for cash of $392,300.
July 11 Issued 2,175 shares of $100 par value preferred stock for cash at $130 per share.
Nov. 28 Purchased 2,350 shares of treasury stock for $83,500.
Journalize the transactions. (List all debit entries before credit entries. Record joumal entries in the order pnesented in the problem. Credit account tidles are automatically indented when amount is entered. Do not indent manually)
Date
Account Titles and Explanation
Debit
Credit
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students