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Nash Inc, issues 500 shares of $10 par value common stock and 100 shares of...

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Accounting

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Nash Inc, issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $102,000. a. Prepare the journal entry for the issuance when the market price of the common shares is $174 each and market price of the preferred is $218 each. b. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $174 per share. (List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to 0 decimal places, e. . 1,225. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation a. Cash Paid-in Capital in Excess of Par-Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock b. Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock Debit Credit

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