Answer:
Jan 22
Dr Cash 600,000
Cr Common stock 600,000
Feb 14
Dr Cash 150,000
Cr Preferred stock 150,000
Aug 30
Dr Cash 1,350,000
Cr Preferred stock 1,250,000
Cr Paid in capital excess of par preferred stock 100,000
Explanation:
Muir Corporation Journal entries
Date Accounts Debit Credit
Jan 22
Dr Cash (20,000*30) 600,000
Cr Common stock 600,000
Feb 14
Dr Cash (3000*50) 150,000
Cr Preferred stock 150,000
Aug 30
Dr Cash (25,000*54) 1,350,000
Cr Preferred stock (25,000*50) 1,250,000
Cr Paid in capital excess of par preferred stock 100,000
