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Prepare the journal entries for transactions

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Question - Prepare the journal entries for this transactions

a. Peterson Company issued 4,000 shares of preferred stock for $240,000. The stock has a par value of $60 per share.

b. On December 2, 2014, Ewell Company purchases a piece of land from the original owner. In payment for the land, Ewell Company issues 8,000 shares of common stock with $1.00 par value. The land has been appraised at a market value of $400,000.

c. Chaney Corporation issued 20,000 shares of common stock on January 1, 2014. The stock has par value of $1.00 per share and was sold at $30 per share.

d. Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share.

Reference no: EM132739102

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