Sagan Co. had these transactions during the current period. June 12 Issued 80,000 shares of...
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Sagan Co. had these transactions during the current period. June 12 Issued 80,000 shares of $ 1 par value common stock for cash of $ 300,000. July 11 Issued 3,000 shares of $ 100 par value preferred stock for cash at $ 106 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $ 9,000. Prepare a tabular summary to record the Sagan Co. transactions. 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 Cash + Common Stock + PIC in Exce June 22 300,000 80,000 $ July 11 318000 Nov. 28 9000 e Teythook and Media
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