Warren Company had the following transactions.
1. Issued 5,000 shares of common stock with a stated value of $10 for $110,000.
2. Issued 2,000 shares of $100 par preferred stock at $107 for cash.
Instructions
Prepare the journal entries to record the above stock transactions.

Question

Quizplus · Accepted Answer

The Answer of Warren Company had the following transactions.
1. Issued 5,000 shares of common stock with a stated value of $10 for $110,000.
2. Issued 2,000 shares of $100 par preferred stock at $107 for cash.
Instructions
Prepare the journal entries to record the above stock transactions.

Warren Company Had the Following Transactions