Marigold Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year c operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 48,500 shares for cash at $51 per share. July 1 Issued 58,000 shares for cash at $59 per share. (a) Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit
Marigold Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year c operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 48,500 shares for cash at $51 per share. July 1 Issued 58,000 shares for cash at $59 per share. (a) Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Date Debit Credit
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter11: Accounting For Transactions Using A General Journal
Section: Chapter Questions
Problem 3AP
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