Based on the Following Information, Prepare Journal Entries for Windgate

question 37

Essay

Based on the following information, prepare journal entries for Windgate Corporation.
Mar. 7
Issued 10,000 shares of $5 par common stock for $43,000 casH.16
Issued 6,000 shares of $5 par common stock for $33,000 casH.23
Issued 4,000 shares of $12 par, 7% preferred stock for $53,000 casH.29
Issued 5,000 shares of $4 par common stock for land with a fair market value of $28,000.
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Definitions:

Iliac Fossae

The large, concave areas on the inner surface of the iliac bones, part of the pelvis.

Olecranon Process

A prominent projection on the upper end of the ulna that forms the tip of the elbow.

Distal End

The farthest point from the center of the body, or the point farthest from the point of attachment of a limb or structure.

Upper Limb

The portion of the human body that extends from the shoulder to the hand, including the arm, forearm, wrist, and fingers.