Question: Please help and explain your steps. Thank you in advance On May 1, Greencastle Corporation incorporated and authorized 218,000 preferred shares and an unlimited number
Please help and explain your steps. Thank you in advance
On May 1, Greencastle Corporation incorporated and authorized 218,000 preferred shares and an unlimited number of common shares. On May 2, Greencastle issued 2,000 common shares for $15 per share. On June 15, it issued an additional 1,100 common shares for $17 per share. On November 1, Greencastle issued 190 preferred shares for $32 per share. On December 15, it issued an additional 190 preferred shares for $36 per share. Record the share transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0for the amounts.) Account Titles and Explanation Credit Date Debit Indicate how many shares are authorized and how many are issued at the end of the year for the (1) preferred shares and (2) common shares Number of shares authorized Number of shares issued (1) Preferred shares (2) Common shares
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