No. Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT PRINGLE CORPORATION Partial Balance Sheet December 31, 2014Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1)Issuance of preferred stock for cash.(2)Issuance of common stock for cash.(3)Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit1. 2. 3. SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Solution 1)Journal entry Partial Balance sheet:DateAccount titleDebitcredit1CashPreferred stock[Being preferred stock issued recorded]2cashcommon stock[being common stock issued recorded]3common Treasury stockcash[being common stock repurchased].

1. No.
Account Titles and Explanation
Debit
Credit
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
PRINGLE CORPORATION
Partial Balance Sheet
December 31, 2014Prepare the journal entries for the following. (Credit account titles are
automatically indented when amount is entered. Do not indent manually.)
(1)Issuance of preferred stock for cash.(2)Issuance of common stock for cash.(3)Purchase of
common treasury stock for cash.
No.
Account Titles and Explanation
Debit
Credit1.
2.

2. 3.
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
Solution
1)Journal entry
Partial Balance sheet:DateAccount titleDebitcredit1CashPreferred stock[Being preferred stock
issued recorded]2cashcommon stock[being common stock issued recorded]3common Treasury
stockcash[being common stock repurchased]