On January 22, Shamrock Corporation issued for cash 26,000 shares of no-par common...
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On January 22, Shamrock Corporation issued for cash 26,000 shares of no-par common stock at $15. On February 14, Shamrock issued at par 3,000 shares of 5%, $60 par preferred stock for cash. On August 30, Shamrock Corporation issued for cash 22,000 shares of preferred 5% stock, $ 60 par at $68. Journalize the entries to record the January 22, February 14, and August 30 transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 22 Cash 600,000 X Common Stock 600,000 X Feb. 14 Cash 525,000 Paid-In Capital in Excess of Par-Preferred Stock X 525,000 Aug. 30 Cash 1,840,000 X 1,725,000 Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock 115,000
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