On May 10, a company issued for cash 1,500 shares of no-par common stock
(with a stated value of $2) at $14, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $58.Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value.

Question

On May 10, a company issued for cash 1,500 shares of no-par common stock 
(with a stated value of $2) at $14, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $58.​Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value.

Quizplus · Accepted Answer

The Answer of On May 10, a company issued for cash 1,500 shares of no-par common stock 
(with a stated value of $2) at $14, and on May 15, it issued for cash 2,000 shares of $15 par preferred stock at $58.​Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value.

On May 10, a Company Issued for Cash 1,500 Shares