Business, 08.10.2019 02:10 poptropic7932

Teal corporation is authorized to issue 54,000 shares of $5 par value common stock. during 2020, teal took part in the following selected transactions. 1. issued 5,100 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $8,200. 2. issued 1,000 shares of stock for land appraised at $54,000. the stock was actively traded on a national stock exchange at approximately $50 per share on the date of issuance. 3. purchased 540 shares of treasury stock at $40 per share. the treasury shares purchased were issued in 2016 at $37 per share. (a) prepare the journal entry to record item 1. (b) prepare the journal entry to record item 2. (c) prepare the journal entry to record item 3 using the cost method.

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Teal corporation is authorized to issue 54,000 shares of $5 par value common stock. during 2020, tea...

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