Steger Corporation was organized on July 15,2016.It was authorized to issue 150,000 shares of $5 par value common stock and 50,000 shares of 9% cumulative class A preferred stock.The class A preferred stock had a stated value of $10 per share.The following stock transactions relate to Steger Corporation.
1)Issued 50,000 shares of common stock for $22 per share.
2)Issued 4,000 shares of the class A preferred stock for $20 per share.
3)Issued 27,500 shares of common stock for $28 per share.
Prepare the general journal entries for the above transactions.

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The Answer of Steger Corporation was organized on July 15,2016.It was authorized to issue 150,000 shares of $5 par value common stock and 50,000 shares of 9% cumulative class A preferred stock.The class A preferred stock had a stated value of $10 per share.The following stock transactions relate to Steger Corporation.
1)Issued 50,000 shares of common stock for $22 per share.
2)Issued 4,000 shares of the class A preferred stock for $20 per share.
3)Issued 27,500 shares of common stock for $28 per share.
Prepare the general journal entries for the above transactions.

Steger Corporation Was Organized on July 15,2016