Miles Co. had these transactions during the current period. June $\quad$12 $\quad$Issued 50,000 shares of $\$ 3$ stated value common stock for cash of $\$ 250,000$.
July $\quad$11$\quad$ Issued 2,000 shares of $\$ 100$ par value preferred stock for cash at $\$ 108$ per share.
Nov. $\quad$28$\quad$ Purchased 2,000 shares of treasury stock for $\$ 10,000$.
Instructions
Prepare the journal entries for the preceding transactions.

Question

Miles Co. had these transactions during the current period. June $\quad$12 $\quad$Issued 50,000 shares of $\$ 3$ stated value common stock for cash of $\$ 250,000$.
July $\quad$11$\quad$ Issued 2,000 shares of $\$ 100$ par value preferred stock for cash at $\$ 108$ per share.
Nov. $\quad$28$\quad$ Purchased 2,000 shares of treasury stock for $\$ 10,000$.
 Instructions
Prepare the journal entries for the preceding transactions.

Quizplus · Accepted Answer

The Answer of Miles Co. had these transactions during the current period. June $\quad$12 $\quad$Issued 50,000 shares of $\$ 3$ stated value common stock for cash of $\$ 250,000$.
July $\quad$11$\quad$ Issued 2,000 shares of $\$ 100$ par value preferred stock for cash at $\$ 108$ per share.
Nov. $\quad$28$\quad$ Purchased 2,000 shares of treasury stock for $\$ 10,000$.
 Instructions
Prepare the journal entries for the preceding transactions.

Miles Co Had These Transactions During the Current Period \quad 12 \quad

Miles Co Had These Transactions During the Current Period $\quad$ 12 $\quad$