Samson Company had the following transactions.
1. Issued 5,000 shares of $100 par preferred stock at $107 for cash.
2. Issued 8,000 share of common stock with a par value of $10 for $120,000.
3. Purchased 500 shares of treasury common stock for $12,000.
Instructions
Prepare the journal entries to record the above stock transactions.

Question

Quizplus · Accepted Answer

The Answer of Samson Company had the following transactions.
1. Issued 5,000 shares of $100 par preferred stock at $107 for cash.
2. Issued 8,000 share of common stock with a par value of $10 for $120,000.
3. Purchased 500 shares of treasury common stock for $12,000.
Instructions
Prepare the journal entries to record the above stock transactions.

Samson Company Had the Following Transactions