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

Entries for issuing stock On January 22, Shamrock Corporation issued for cash 17,000...

70.2K

Verified Solution

Question

Accounting

Entries for issuing stock
On January 22, Shamrock Corporation issued for cash 17,000 shares of no-par common stock at $15. On February 14, Shamrock issued at par value 7,000 shares of preferred 3% stock, $80 par for cash. On August 30, Shamrock issued for cash 18,000 shares of preferred 3% stock, $80 par at $86.
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.
DateAccountDebitCredit
Jan. 22
Cash
Common Stock
Feb. 14
Cash
Preferred Stock
Aug. 30
Cash
Preferred Stock
Paid-In Capital in Excess of Par-Preferred Stock

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

CHAPTER 6 Multiphase Systems(Elementary princilples of Chemical Engineering 4th Ed) 6.88) Serine (Ser, molecular weight=105.1g/mol) is a non-essential...

Chemistry
Q

Given is a population of wolves (W) and rabbits (R). R[t+1] = R[t]+ g*R[t] * (1...

Advance Math
Q

A residence was constructed in 1986 for $72,000 on a lot that cost $14,000. Before the...

Accounting
Q

Forest Components makes aircraft parts. The following transactions occurred in July: Purchased $16,950 of materials on account....

Accounting
Q

When something changes and this change initiates a chain of events culminating in aresponse which...

Biology
Q

Which of the following is an example of an autotroph tree O dog bird elephant

Biology
Q

Erica wants to buy a new truck for $18,500. She has talked to the loan...

Basic Math
Q

Find the z value that corresponds to the given area in the figure below. Use...

Basic Math
Q

Check if the Mean Value Theorem can be applied to f x 13x 13z 12...

Calculus
Q

For the function f x 3x 1 evaluate and simplify the difference quotient

Algebra
Q

Liang Company began operations in Year 1. During its first two years, the company completed...

Accounting
Q

staterl) 1. Hoth ending inventury and parchaves and trlated accounts payable are endentated. (Assume this...

Accounting