Business, 10.09.2019 20:30 amm2795

Tyler corporation was organized in 2014. it’s corporate charter authorized the issuance of 50,000 shares of common stock, par value $5 per share, and 10,000 shares of 8% preferred stock, per value $25 per share.
prepare journal entries for each of the following transactions:
january 1 sold and issued 45,000 shares of common stock for cash at $ 25 per share
february 1 sold and issued 5,000 shares of preferred stock for cash of $75 per share.
june 1 purchased 7,500 shares of common stock in the open market at $24 per share.
august 1 sold 1,000 shares of the treasury stock at $26 per share.
october 1 sold another 1,500 shares of the treasury stock at $23 per share.
december 1 declared dividends totaling $100,000.
allocations of the dividend to preferred and common stockholders.
december 31 paid the dividends that were declared.

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Tyler corporation was organized in 2014. it’s corporate charter authorized the issuance of 50,000 sh...

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