Answer:
The journal entries have been given as under;
Explanation:
Cash 15,000*12 Dr.$180,000
Common Stocks 15,000*10 Cr.$150,000
paid in capital-common stock 15,000*(12-10) Cr.$30,000
Cash 5,000*51 Dr.$255,000
Preferred stocks 5,000*50 Cr.$250,000
Paid in Capital-preferred stock 5,000*1 Cr.$5,000
Cash 60,000*15 Dr.$900,000
Common Stocks 60,000*10 Cr.$600,000
Paid in Capital-common stocks 60,000*(15-10) Cr.$300,000
