all journal enty please. 1. Prepare the journal entry to record Tamas Company\'s

Question

all journal enty please.

1. Prepare the journal entry to record Tamas Company's issuance of 7,000 shares of $100 par value, 6% cumulative preferred stock for $105 cash per share View transaction list Journal entry worksheet Record the issue of $100 par value preferred stock for $105 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Cash referred stock, $100 par value aid-in capital in excess of par value, preferred stock Record entry Clear entry View general journal

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Cash (7000*105) 735000 Preferred Stock 700000 Paid in capital in excess of par value-Preferred stock 35000 (To record issue preferred stock)

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