Exercise 112 Ivanhoe Company had these transactions during the current period. J
ID: 2525147 • Letter: E
Question
Exercise 112 Ivanhoe Company had these transactions during the current period. June 12 Issued 82,500 shares of $1 par value common stock for cash of $309,375. July 11 Issued 3,450 shares of $103 par value preferred stock for cash at $107 per share Nov. 28 Purchased 2,650 shares of treasury stock for $8,450. Prepare the ournal entries or the Ivanhoe Company transactions shown above. (Record ournal entries in the order presented in the proble n Credit account indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts esae auto ma ca Date Account Titles and Explanation Debit Credit June 12 July 11 Nov. 28 Click if you would like to Show Work for this question: Open Show WorkExplanation / Answer
Answers
Date
Accounts Titles
Debit
Credit
Jun-12
Cash [82500 x $3.75]
$ 3,09,375.00
Common Stock [82500 shares x $1 par]
$ 82,500.00
Additional Paid In Capital in Excess of Par - Common Stock [82500 shares x $2.75]
$ 2,26,875.00
(common stock issued)
Jul-11
Cash [3450 x $107]
$ 3,69,150.00
Preferred Stock [3450 shares x $103 par]
$ 3,55,350.00
Additional Paid In Capital in Excess of Par - Preferred Stock [3450 shares x $4]
$ 13,800.00
(preferred stock issued)
Nov-28
Treasury Stock
$ 8,450.00
Cash
$ 8,450.00
(treasury stock purchased)
Date
Accounts Titles
Debit
Credit
Jun-12
Cash [82500 x $3.75]
$ 3,09,375.00
Common Stock [82500 shares x $1 par]
$ 82,500.00
Additional Paid In Capital in Excess of Par - Common Stock [82500 shares x $2.75]
$ 2,26,875.00
(common stock issued)
Jul-11
Cash [3450 x $107]
$ 3,69,150.00
Preferred Stock [3450 shares x $103 par]
$ 3,55,350.00
Additional Paid In Capital in Excess of Par - Preferred Stock [3450 shares x $4]
$ 13,800.00
(preferred stock issued)
Nov-28
Treasury Stock
$ 8,450.00
Cash
$ 8,450.00
(treasury stock purchased)
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