JetNew issued 50,000 common shares on January 1,2017 at $8 each.Preferred shares were issued on March 15,2017 at $10 each with a dividend rate of $0.50.JetNew sold 20,000 of these shares.On November 15,in order to buy into the business,another shareholder offered up a building valued at $300,000 for 30,000 common shares.At the time of this transaction JetNew shares were trading at $9.Prepare the required journal entries.

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The Answer of JetNew issued 50,000 common shares on January 1,2017 at $8 each.Preferred shares were issued on March 15,2017 at $10 each with a dividend rate of $0.50.JetNew sold 20,000 of these shares.On November 15,in order to buy into the business,another shareholder offered up a building valued at $300,000 for 30,000 common shares.At the time of this transaction JetNew shares were trading at $9.Prepare the required journal entries.

JetNew Issued 50,000 Common Shares on January 1,2017 at $8