ACC 363 E12-2 Garza Co. had the following transactions during the current period.

ACC 363 E12-2 Garza Co. had the following transactions during the current period.

ACC 363 E12-2 Garza Co

Axia College of University of Phoenix (UoP) Financial Accounting: Weygandt, Kieso, and Kimmel, 5th Edition Financial Accounting II

Exercise E12-2, Journalize issuance of common and preferred stock and purchase of treasury stock. 

E12-2 Garza Co. had the following transactions during the current period.

Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate.

June 12 Issued 60,000 shares of $1 par value common stock for cash of $375,000.

July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share.

Nov. 28 Purchased 2,000 shares of treasury stock for $80,000.

Instructions

Journalize the transactions.
File name: ACC-363-E12-2-Garza-Co.xls File type: application/vnd.ms-excel Price: $3