Copitol Stock-Share Activity Copital Stock Share Activity PS & CS Common Stock N

Question

Copitol Stock-Share Activity Copital Stock Share Activity PS & CS Common Stock Number of Number of Price Paid Per Share Copital Stock Capital Stock Total | Preferred Shares Legal Volue Pad-n Copital Copital Stock Dote 6/12/2017 Issued new shares cS 7/11/2017 Issued new shares PS 11/28/2017 Purchase Treasury Shares -C 2/1/2018 Issued new shares-PS 7/1/2018 Issued new shares CS Common Shores Treasury Shares $1 $100 $110.00 2,00010.00 $ 125.00 $ 10.00 $100 4,000 $16,000 25,000 Total Shares and Values Creadtt Account DR Account CR /11/2017 11/28/2017 2/1/2018

Explanation / Answer

Date Account title & explanation Debit Credit Amount in $ Amount in $ June 12, 2017 Cash 5000000 Common stock at par 1000000 Paid in Capital in excess of par-Capital stock 4000000 To record the issuance of common stock July 11, 2017 Cash 1650000 Preferred stock at pat 1500000 Paid in capital in excess of par -Preferred stock 150000 To record the issuance of preferred stock November 28, 2017 Treasury stock 10000 Retained earnings 10000 Cash 20000 To record the purchase of treasury stock February 1, 2018 Cash 500000 Preferred stock at pat 400000 Paid in capital in excess of par -Preferred stock 100000 To record the issuance of preferred stock July 1, 2018 Cash 60000 Common stock at par 6000 Paid in Capital in excess of par-Capital stock 54000 To record the issuance of common stock Preferred stock 1500000 400000 1900000 Total 1900000 Ending Balance Common stock 1000000 6000 1006000 Total 1006000 Ending Balance Paid in capital common stock 4000000 54000 4054000 Total 4054000 Ending Balance Paid in capital Preferred stock 150000 100000 250000 Total 250000 Ending Balance

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