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scoundrel [369]
1 year ago
9

Carla Vista Co. had these transactions during the current period.

Business
1 answer:
Kisachek [45]1 year ago
3 0

Answer:

June 12

Dr Cash 83,000

Cr Common Stock (83,000 × $1)

Dr Paid in capital in excess of par value 311,250

Cr Common Stock 311,250

July 11

Dr Cash 460,100

Cr Preferred Stock 442,900

Cr Paid in Capital in excess of par value -Preferred Stock 17,200

Nov. 28

Dr Treasury Stock 9,350

Cr Cash 9,350

Explanation:

Journal entries for Carla Vista Co.

June 12

Dr Cash 83,000

Cr Common Stock (83,000 × $1)

Dr Paid in capital in excess of par value 311,250

Cr Common Stock 311,250

July 11

Dr Cash 460,100

(4,300 × $107)

Cr Preferred Stock 442,900

(4,300 × $103)

Cr Paid in Capital in excess of par value -Preferred Stock 17,200

(4,300 × $4)

Nov. 28

Dr Treasury Stock 9,350

Cr Cash 9,350

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