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Post to the stockholders equity accounts

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Question - Culver Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. 1 Issued 21,000 shares for cash at $57 per share.

July 1 Issued 12,500 shares for cash at $61 per share.

Required -

(a) Journalize the transactions.

(b) Post to the stockholders' equity accounts.

Reference no: EM133141560

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