Ime the transactions, assuming that the common stock is no-par with a stated value of $1 per share. E11-2 Sagan Co. had these transactions during the current period. June 12 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share. Issued 80,000 shares of $1 par value common stock for cash of $300,000. July 11 Nov. 28 Purchased 2,000 shares of treasury stock for $9,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ime the transactions, assuming that the common stock is no-par with a stated
value of $1 per share.
E11-2 Sagan Co. had these transactions during the current period.
June 12
Issued 3,000 shares of $100 par value preferred stock for cash at $106 per
share.
Issued 80,000 shares of $1 par value common stock for cash of $300,000.
July 11
Nov. 28
Purchased 2,000 shares of treasury stock for $9,000.
Transcribed Image Text:Ime the transactions, assuming that the common stock is no-par with a stated value of $1 per share. E11-2 Sagan Co. had these transactions during the current period. June 12 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share. Issued 80,000 shares of $1 par value common stock for cash of $300,000. July 11 Nov. 28 Purchased 2,000 shares of treasury stock for $9,000.
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