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During Its First Year of Operations, Cole's Electronics Inc

Question 163

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During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity. During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity. The articles of incorporation authorize 5,000,000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares with a par of $100 per share. Required: Record the above transactions in general journal form. The articles of incorporation authorize 5,000,000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares with a par of $100 per share.
Required:
Record the above transactions in general journal form.

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