CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market price of the...
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CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market price of the stock is $12 per share. 2. Issued 2,000 shares of 5%, $100 par, cumulative preferred stock for $122 per share. 3. Declared dividends on preferred dividend of 5% per share. 4. Purchased 500 shares of common stock at $14 for treasury. 5. Paid preferred dividend declared in # 3. 6. Sold 100 shares treasury stock at $20 per share. Instructions: Journalize the transactions for Fortier Company. CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market price of the stock is $12 per share. 2. Issued 2,000 shares of 5%, $100 par, cumulative preferred stock for $122 per share. 3. Declared dividends on preferred dividend of 5% per share. 4. Purchased 500 shares of common stock at $14 for treasury. 5. Paid preferred dividend declared in # 3. 6. Sold 100 shares treasury stock at $20 per share. Instructions: Journalize the transactions for Fortier Company.
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