Wilson Corporation had the following transactions:
1. Issued 7,000 shares of common stock with a stated value of $15 for $155,000.
2. Issued 3,000 shares of $100 par value preferred stock at $117 for cash.
Required: Prepare the journal entries for the above transactions.

Question

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The Answer of Wilson Corporation had the following transactions:
1. Issued 7,000 shares of common stock with a stated value of $15 for $155,000.
2. Issued 3,000 shares of $100 par value preferred stock at $117 for cash.
Required: Prepare the journal entries for the above transactions.

Wilson Corporation Had the Following Transactions