Question - Entries for Issuing Stock
On February 23, Shamrock Corporation issued for cash 32,000 shares of no-par common stock at $15. On October 6, Shamrock issued at par 6,000 shares of 7%, $80 par preferred stock for cash. On November 4, Shamrock Corporation issued for cash 24,000 shares of preferred 7% stock, $80 par at $86.
Journalize the entries to record the February 23, October 6, and November 4 transactions.
For a compound transaction, if an amount box does not require an entry, leave it blank.