Wise Company had the following transactions.
1. Issued 7,000 shares of common stock with a stated value of $10 for $130,000.
2. Issued 2,000 shares of $100 par preferred stock at $108 for cash.
Instructions
Prepare the journal entries to record the above stock transactions.

Question

Quizplus · Accepted Answer

The Answer of Wise Company had the following transactions.
1. Issued 7,000 shares of common stock with a stated value of $10 for $130,000.
2. Issued 2,000 shares of $100 par preferred stock at $108 for cash.
Instructions
Prepare the journal entries to record the above stock transactions.

Wise Company Had the Following Transactions