Bruner Corporation has two classes of shares, common shares and preferred shares. Journalize Bruners issuance of the

Question:

Bruner Corporation has two classes of shares, common shares and preferred shares. Journalize Bruner’s issuance of the following:

a. 1,000 common shares for $50 per share

b. 1,000 preferred shares for a total of $32,000

Explanations are not required.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...