Tidal corporation was organized on january 1, 2017. it is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. the following stock transactions were completed during the first year. jan. 10 issued 70,000 shares of common stock for cash at $4 per share. mar. 1 issued 12,000 shares of preferred stock for cash at $53 per share. may 1 issued 120,000 shares of common stock for cash at $6 per share. sept. 1 issued 5,000 shares of common stock for cash at $5 per share. nov. 1 issued 3,000 shares of preferred stock for cash at $56 per share.
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Tidal corporation was organized on january 1, 2017. it is authorized to issue 20,000 shares of 6%, $...
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