Solution-Record the general journal

Record the general journal

Reference no: EM132913221

Question - On January 1 of the current year, Big Corporation had 220,000 shares of $ 2.00 par value common stock outstanding and 5,000 shares of $ 50.00 per value preferred stock outstanding .

During the year, the following stock transactions occured.

Feb 1 - Issue 5,500 shares of common stock to the promoters who organized the corporation. Their fee was $ 25,000.

April 5 - Issued 1,200 shares of preferred stock for $ 60.00 per share.

June 10 - Accepted subscriptions to 1,000 shares of common stock at $ 50.00 per share. Received a one-fourth down payment of the subscription price.

August 15 - Collected a one-fourth payment of the stock subscriptions.

October 15 - Corrected the remaining balance due on the Stock subscriptions and issued the command stock.

Could you please help record the general journal.

Reference no: EM132913221

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Record the general journal

Reference no: EM132913221

Reference no: EM132913221

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