Question: Please help me journalize these transactions, and answer the question below the transaction of March 1, 2013. Please show the allocation of preferred or common
Stock split (AOFL) Attached Files: Ace Manufacturing Blanks.xlsx (9.101 KB) INSTRUCTIONS: Fill out the journal entries for the following transactions for Ace Manufacturing: 2011 - Ace Manufacturing issued the following stock for cash: Jan. 1 - Preferred 10 000 shares @ $100 per share Jan. 15 - Common stock 100 000 shares @ $20 June 1 - They declared a stock dividend of $2 on the preferred stock June 30 - They paid the dividend. Dec. 31- They closed the dividend account. 2012 - Jan. 15 - They issued a stock dividend of 10 percent for the common stock, and the current market price was 530 Feb, 30 - They issued the common stock for the dividend. Dec 31 - They closed the declared account 2 2013 - March 1 - The common stock was now worth $100, so they split it in half Based on the March 1 transaction, what is the number of outstanding common stock shares on March 31, 2013
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