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ACCT 220 Week 6 Homework

ACCT 220 Week 6 Homework

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ACCT 220 Week 6 Homework

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ACCT 220 Week 6 Homework

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Week 6

An accounting intern recently made the following entries.

 

May 2              Cash                            $140,000

Common Stock                        $140,000

(Issued 10,000 shares of common stock of $10 stated value at $12 per share.)

May 10            Cash                            $700,000

Preferred Stock                       $700,000

(Issued 10,000 shares of $50 par value preferred stock for $70 per share.)

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