Reference no: EM132891542

Question - Record each of the following transactions for the Toyota Company during 2013 in general journal form.

Assume that treasury stock transactions are recorded using the cost method.

Retained earnings has a balance of $450,000 in it:

(a) Issued 30,000 shares of 9%, $20 par preferred stock at $26 each share.

(b) Issued 50,000 shares of $3 par value of common stock at $33 each share.

(c) Re-purchased 4,000 shares of its preferred stock at $28.

(d) Re-purchased 6,000 shares of its common stock at $35.

(e) Re-issued 1,000 shares of common treasury stock at $37 each share.

(f) Re-issued 500 shares of common treasury common stock at $32 per share.

(g) Re- issued 1,200 shares of treasury preferred stock at $32 per share.

(h) Re-issued 620 shares of treasury preferred stock at $20 each share.