Solved: Issued 8000 share of common stock with a par value of 10, Accounting Basics

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Issued 8000 share of common stock with a par value of 10

Question - Samson Company had the following transactions.

1. Issued 4,000 shares of $100 par preferred stock at $107 for cash.

2. Issued 8,000 share of common stock with a par value of $10 for $110,000.

3. Purchased 500 shares of treasury common stock for $12,000.

Instructions - Prepare the journal entries to record the above stock transactions.

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Accounting Basics: Issued 8000 share of common stock with a par value of 10

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Accounting Basics: Issued 8000 share of common stock with a par value of 10

Reference No:- TGS02600715

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