Prepare journal entry for the issuance

Reference no: EM1375406

Hartman Inc. Issues 500 shares of $ 10 par value common stock and 100 shares of $ 100 par value preferred stock for lump sum of $ 100,000.

a. Create the journal entry for the issuance when the market price of common shares is $ 168 each and market price of the ideal is 210 each. (Round to nearest dollar.)

b. Fill the journal entry for the issuance when only the market price of the common stock is known and it is $ 170 per share.

Reference no: EM1375406

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