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On January 1,2014,Illusions,Inc

Question 71

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On January 1,2014,Illusions,Inc.issued 800 shares of $80 par value,callable preferred shares for $80,000,with the right to call the shares on January 1,2015 for $100 per share.The company calls all 800 shares on January 1,2015.What is the necessary journal entry to record this transaction for 2015?


A) On January 1,2014,Illusions,Inc.issued 800 shares of $80 par value,callable preferred shares for $80,000,with the right to call the shares on January 1,2015 for $100 per share.The company calls all 800 shares on January 1,2015.What is the necessary journal entry to record this transaction for 2015? A) B) C) D)
B) On January 1,2014,Illusions,Inc.issued 800 shares of $80 par value,callable preferred shares for $80,000,with the right to call the shares on January 1,2015 for $100 per share.The company calls all 800 shares on January 1,2015.What is the necessary journal entry to record this transaction for 2015? A) B) C) D)
C) On January 1,2014,Illusions,Inc.issued 800 shares of $80 par value,callable preferred shares for $80,000,with the right to call the shares on January 1,2015 for $100 per share.The company calls all 800 shares on January 1,2015.What is the necessary journal entry to record this transaction for 2015? A) B) C) D)
D) On January 1,2014,Illusions,Inc.issued 800 shares of $80 par value,callable preferred shares for $80,000,with the right to call the shares on January 1,2015 for $100 per share.The company calls all 800 shares on January 1,2015.What is the necessary journal entry to record this transaction for 2015? A) B) C) D)

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