On January 22, Erin Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Erin issued at par value 5,000 shares of preferred 8% stock, $100 par for cash. On August 30, Erin issued for cash 16,000 shares of preferred 8% stock, $100 par at $108. 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.

On January 22, Erin Corporation issued for cash 12,000 shares of no-par common stock at $45. On February 14, Erin issued at par value 5,000 shares of preferred 8% stock, $100 par for cash. On August 30, Erin issued for cash 16,000 shares of preferred 8% stock, $100 par at $108. 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.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...

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Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.
On January 22, Ireland Corporation issued for cash 34,000 shares of no-par common stock at $20. On February 14, Ireland issued at par value 8,000 shares of preferred 3% stock, $50 par for cash. On August 30, Ireland issued for cash 13,000 shares of preferred 3% stock, $50 par at $56. 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. 30 000 00 00 0000 000 88
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