Question

Bostick Co. had the following transactions during the current period.

Mar. 2 Issued 4,000 shares of $1 par value common stock to attorneys in payment of a

bill for $35,000 for services performed in helping the company to incorporate.

June 12 Issued 50,000 shares of $1 par value common stock for cash of $360,000.

July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $120 per share.

Nov. 28 Purchased 2,000 shares of treasury stock for $70,000.

Instructions

Journalize the transactions.​

Answer 1

Answer:

 Journal entries      DateAccount Title and ExplanationDebitCredit02-MarOrganization expense$35,000  Common Stock (4000 x $1) $4,000 Paid-in capital in excess of par-Common Stock

Explanation:

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