Reference no: EM132385530
Question
Part A)
On January 2, 2016, Alpha Corporation issued 5,000 shares of $2 par value common stock. The issue price was $7.50 per share. Use this information to prepare the General Journal entry (without explanation) for the January 2 entry.
Date Accounts Debit Credit
Part B)
On January 2, 2016, Alpha Corporation issued 1,500 shares of $6 par value common stock. The issue price was $15 per share. On January 15, Alpha Corporation issued 1,100 shares of its $100 par 5% cumulative preferred stock for $105 per share. Use this information to prepare the General Journal entry (without explanation) for the January 2 and January 15 entries.
Date Accounts Debit Credit
Part C)
On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $25 per share. Use this information to prepare the General Journal entry (without explanation) for September 1.
Date Accounts Debit Credit
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