Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. entries for issuing stock on january 22, muir corp

Entries for Issuing Stock On January 22, Muir Corporation issued for cash 23,000 shares of...

90.2K

Verified Solution

Question

Accounting

image

Entries for Issuing Stock On January 22, Muir Corporation issued for cash 23,000 shares of no-par common stock at $45. On February 14, Muir issued at par value 8,000 shares of preferred 6% stock, $50 par for cash. On August 30, Muir issued for cash 15,000 shares of preferred 6% stock, $50 par at $57. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank. Jan. 22 _ Feb. 14 Aug. 30 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock Retained Earnings

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