Question: The following information was taken from the statement of shareholders' equity of Chinook Furs: Provide the journal entries for the following: (a) The issuance of

The following information was taken from the statement of shareholders' equity of Chinook Furs:

Provide the journal entries for the following:
(a) The issuance of preferred stock during 2012.
(b) The issuance of common stock during 2012.
(c) The sale of treasury stock during 2012.

2012 2011 Preferred stock (no par) Common stock (S1 par value) Additional paid-in capital: Common stock Treasury stock Less: Treasury stock S 700 S400 900 1,000 40 20 10 130 150

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