On April 1, 10,000 shares of $5 par common stock were issued at $22, and on...

  

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On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. What are the entries for April 1 and 7? O a. Apr. 1 Cash 50,000 170,000 Dividends Common Stock 50,000 Paid-In Capital in Excess of Par-Common Stock 170,000 Apr. 7 Cash 250,000 Dividends 270,000 Preferred Stock 250,000 Paid-In Capital in Excess of Par-Preferred Stock 270,000 b. Apr. 1 Cash 220,000 Common Stock 220,000 Apr. 7 Cash 520,000 Preferred Stock 520,000 O c. Apr. 1 Cash 220,000 Common Stock 50,000 Paid-In Capital in Excess of Par-Common Stock 170,000 Apr. 7 Cash 520,000 Preferred Stock 250,000 Paid-In Capital in Excess of Par-Preferred Stock 270,000 Od. Apr. 1 Cash 220,000 Common Stock 170,000 Paid-In Capital in Excess of Par-Common Stock 500,000 Apr. 7 Cash 520,000 Preferred Stock 270,000 Paid-In Capital in Excess of Par-Preferred Stock 250,000 On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. What are the entries for April 1 and 7? O a. Apr. 1 Cash 50,000 170,000 Dividends Common Stock 50,000 Paid-In Capital in Excess of Par-Common Stock 170,000 Apr. 7 Cash 250,000 Dividends 270,000 Preferred Stock 250,000 Paid-In Capital in Excess of Par-Preferred Stock 270,000 b. Apr. 1 Cash 220,000 Common Stock 220,000 Apr. 7 Cash 520,000 Preferred Stock 520,000 O c. Apr. 1 Cash 220,000 Common Stock 50,000 Paid-In Capital in Excess of Par-Common Stock 170,000 Apr. 7 Cash 520,000 Preferred Stock 250,000 Paid-In Capital in Excess of Par-Preferred Stock 270,000 Od. Apr. 1 Cash 220,000 Common Stock 170,000 Paid-In Capital in Excess of Par-Common Stock 500,000 Apr. 7 Cash 520,000 Preferred Stock 270,000 Paid-In Capital in Excess of Par-Preferred Stock 250,000

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Answer The correct entries for April 1 and April 7 are as follows a Apr 1 Debit Cash 220000 ... View the full answer