On January 1, 2014, Vidalia Company issued 30,000 shares of $2 par value common stock for $150,000 On March 1, 2014, the company purchased 6,000 shares of its common stock for $8 per share for the treasury On June 1, 2014, 1,500 of the treasury shares are sold for $10 per share On September 1, 2014...

Jan 1 Cash 150000 Common Stock 60000 PaidIn Capital in Excess ...

On January 1, 2014, Vidalia Company issued 30,000 shares of $2 par value common stock for $150,000.

Question:

On January 1, 2014, Vidalia Company issued 30,000 shares of $2 for $150,000. On March 1, 2014, the company purchased 6,000 shares of its for $8 per share for the treasury. On June 1, 2014, 1,500 of the treasury shares are sold for $10 per share. On September 1, 2014, 3,000 treasury shares are sold at $6 per share.
Instructions
Journalize the stock transactions of Vidalia Company in 2014.
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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...