Tyler Corporation has 100,000 preference shares with a €40 par value authorized. During the year, it had the following transactions related to its preference shares.
(a) Issued 30,000 shares at €55 per share.
(b) Issued 10,000 shares for equipment having a €700,000 asking price. The shares had a fair value of €60 per share
Instructions
Journalize the transactions.

Question

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The Answer of Tyler Corporation has 100,000 preference shares with a €40 par value authorized. During the year, it had the following transactions related to its preference shares.
(a) Issued 30,000 shares at €55 per share.
(b) Issued 10,000 shares for equipment having a €700,000 asking price. The shares had a fair value of €60 per share
Instructions
Journalize the transactions.

Tyler Corporation Has 100,000 Preference Shares with a €40 Par