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On May 10, Pronghorn Corp issues 2,200 shares of $4 par value common stock for...

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Accounting

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On May 10, Pronghorn Corp issues 2,200 shares of $4 par value common stock for cash at $14 per share. Prepare a tabular summary to record the issuance of the stock. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Paid-in-Capital PIC in Excess of Par Value Com. Cash + Common Stock + May 10 $ On May 10, Pronghorn Corp issues 2,200 shares of $4 par value common stock for cash at $14 per share. Prepare a tabular summary to record the issuance of the stock. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Revenue Expense Dividend $

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