Junot Corp., a publicly traded company, had 2,700 preferred shares issued with a balance of
$59,400 and 154,000 common shares issued with a balance of $770,000 at the beginning of the
year. The following share transactions occurred during the year: June 12 Issued 47,600 common
shares for $6 per share. July 11 Issued 900 preferred shares for $26 per share. Oct. 1 Issued
10,900 common shares in exchange for land. The common shares were trading for $7 per share
on that date. The fair value of the land was estimated to be $80,800. Nov. 15 Issued 26,700
preferred shares for $28 per share.
Record the above transactions. (List all debit entries before credit entries. Credit account titles
are automatically indented when the amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for the amounts.).
Junot Corp., a publicly traded company, had 2,700 preferred shares is.pdf
1. Junot Corp., a publicly traded company, had 2,700 preferred shares issued with a balance of
$59,400 and 154,000 common shares issued with a balance of $770,000 at the beginning of the
year. The following share transactions occurred during the year: June 12 Issued 47,600 common
shares for $6 per share. July 11 Issued 900 preferred shares for $26 per share. Oct. 1 Issued
10,900 common shares in exchange for land. The common shares were trading for $7 per share
on that date. The fair value of the land was estimated to be $80,800. Nov. 15 Issued 26,700
preferred shares for $28 per share.
Record the above transactions. (List all debit entries before credit entries. Credit account titles
are automatically indented when the amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for the amounts.)
