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Dukas Corporation had these transactions throughout the current period.

Journalize issuance of common stock and preferred stock and purchase of treasury stock.

June 12: Issued 80,000 shares of $1 par value common stock for cash of $300,000.

July 11: Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share.

Nov. 28: Purchased 2,000 shares of treasury stock for $9,000.

Instructions:

Make the journal entries for the Dukas Corporation transactions.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M919400

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