Question

Green Caterers, Inc., was organized on May 4 of this year and has a charter that stipulates the following authorized capital:
a. 15,000 shares of preferred 9 percent stock, $ 15 par value
b. 65,000 shares of common stock, $ 5 par value Green Caterers, Inc., completed the following transactions during its first year of operations:
May 8 Received subscriptions to 24,000 shares of common stock at $ 25 per share; collected 65 percent of the subscription price.
June 7 Subscribers to 24,000 shares of common stock paid an additional 20 percent of the subscription price.
July 6 Subscribers to 24,000 shares of common stock paid an additional 15 percent of the subscription price. Green Caterers, Inc., issued the 24,000 shares of stock.

Required
Record the transactions in general journal form.



$1.99
Sales1
Views82
Comments0
  • CreatedOctober 21, 2014
  • Files Included
Post your question
5000