Question: Tiger Corporation previously had issue 10,000 shares of its $2 value common stock for $15 share. On December 29, 2014, it sells another 5,000 shares to per investors for $20 per share.
Required: (1) Using account columns, (a) enter the balances in the applicable accounts for the common stock that had previously been issued and (b) record the sale of the 5,000 shares of common stock on December 29, 2014.
(2) Prepare the contributed capital section of Tiger Corporation's December 31, 2014 balance sheet.