Exercise 11-2 Date Account Titles and Explanation Debit Credit SAVE FOR LATER SU
ID: 2590799 • Letter: E
Question
Exercise 11-2
Date
Account Titles and Explanation
Debit
Credit
SAVE FOR LATER
SUBMIT ANSWER
Exercise 11-2
Wildhorse Co. had these transactions during the current period.June 12 Issued 82,500 shares of $1 par value common stock for cash of $309,375. July 11 Issued 4,050 shares of $102 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2,050 shares of treasury stock for $9,350.
Prepare the journal entries for the Wildhorse Co. transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when 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.)
Date
Account Titles and Explanation
Debit
Credit
June 12July 11Nov. 28
June 12July 11Nov. 28
June 12July 11Nov. 28
Question Attempts: 0 of 1 usedSAVE FOR LATER
SUBMIT ANSWER
Explanation / Answer
Jun-12 Cash 309375 Common stock 82500 Paid in capital in excess of par-Common stock 226875 Jul-11 Cash 445500 Preferred stock 413100 Paid in capital in excess of par-Preferred stock 32400 Nov-28 Cash 9350 Treasury stock 9350
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.