Question: Exercise 8-13 Ivanhoe Company had these transactions during the current period June 12 Issued 82,500 shares of $1 par value common stock for cash of

Exercise 8-13 Ivanhoe Company had these transactions during the current period June 12 Issued 82,500 shares of $1 par value common stock for cash of $309,375 July 11 Issued 3,450 shares of $103 par value preferred stock for cash at $107 per share Nov. 28 Purchased 2,650 shares of treasury stock for $8,450 Prepare a tabular summary to record the Ivanhoe Company transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Stockholders' Equity Paid-in-Capital Retained Earnings PIC in Excess of Par Com. PIC in Excess of Treasury Stock Common Cash Pref. Stock +Par Pref +Stock + Revenue ExpenseDividend June 22 uly 11 Nov. 28 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
