Question

#3 Quay Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares...

#3 Quay Co. had the following transactions during the current period.

Mar.

2

Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate.

June

12

Issued 60,000 shares of $5 par value common stock for cash of $375,000.

July

11

Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share.

Nov.

28

Purchased 2,000 shares of treasury stock for $80,000.

Instructions

Journalize the transactions.
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