The following stock transactions occurred during January 20-- for Shakil Corporation: (a) Issued 6,000 shares of $10

Question:

The following stock transactions occurred during January 20-- for Shakil Corporation:

(a) Issued 6,000 shares of $10 par common stock for $60,000 cash.

(b) Issued 4,000 shares of $10 par common stock for $52,000 cash.

(d) Issued 5,000 shares of no-par common stock for $55,000 cash.

(e) Issued 4,000 shares of no-par common stock for $42,000 cash.

(f) Issued 6,000 shares of no-par common stock with a stated value of $8 per share for $48,000 cash.

(g) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $22,000 cash.

(h) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $25,000 cash.

Prepare general journal entries to record the stock transactions, identifying each transaction by letter.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...