Orley Company had the following transactions.
1. Issued 5000 shares of common stock with a stated value of $10 for $130000.
2. Issued 2000 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 Orley Company had the following transactions.
1. Issued 5000 shares of common stock with a stated value of $10 for $130000.
2. Issued 2000 shares of $100 par preferred stock at $108 for cash.
Instructions
Prepare the journal entries to record the above stock transactions.

Orley Company Had the Following Transactions