During the month of February, B & B Builders, Inc. completed the following transactions related to its stock:
• February 2: Issued 3,000 shares of no-par common stock with a stated value of $1 for $15 cash per share.
• February 3: Issued 9,000 shares of no-par common stock with no stated value for $20 per share
• February 20: Issued 600 shares of $4 par value preferred stock for equipment with a fair market value of $5,000.
Required: Prepare journal entries for the above transactions.

Question

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The Answer of During the month of February, B & B Builders, Inc. completed the following transactions related to its stock:
• February 2: Issued 3,000 shares of no-par common stock with a stated value of $1 for $15 cash per share.
• February 3: Issued 9,000 shares of no-par common stock with no stated value for $20 per share
• February 20: Issued 600 shares of $4 par value preferred stock for equipment with a fair market value of $5,000.
Required: Prepare journal entries for the above transactions.

During the Month of February, B & B Builders, Inc