Instructions Par and No-Par, Common and Preferred Stock 1. Prepare general journal entries for these...
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Instructions Par and No-Par, Common and Preferred Stock 1. Prepare general journal entries for these transactions, identifying each by letter. If an amount box does not require an entry, leave it blank. Assume that stock transactions a, b and c occurred in year 1. The amount available for dividends at the end of year 1 is $24,400. Prepare he dividend allocation between the preferred and common shares in total and per share for year I. Ir required, round per share amounts to decimal places ernandez Company had the following stock transactions during its first s years of operations (a) Issued 23,900 shares of $1 par common stock for $23,900 cash. (b) Issued 18,600 shares of $1 par common stock for $20,800 cash. (c) Issued 2,300 shares of $50 par, 8% preferred stock for $115,000 cash. (d) Issued 1,000 shares of $50 par, 8% preferred stock for $51,200 cash (e) Issued 2,500 shares of no-par common stock for $11.725 cash. () Issued 1,800 shares of no-par, $7 preferred stock for $87, 500 cash
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