Tyler Corporation Has 100,000 Shares of $40 Par Value Preferred

question 38

Essay

Tyler Corporation has 100,000 shares of $40 par value preferred stock authorized. During the year, it had the following transactions related to its preferred stock.
(a) Issued 20,000 shares at $55 per share.
(b) Issued 10,000 shares for equipment having a $700,000 asking price. The stock had a market value of $65 per share
Instructions
Journalize the transactions.

---

Definitions:

Nonmonetary Characteristics

Features or attributes of goods, services, or job positions that do not have a direct monetary value or financial aspect.

Labor Markets

Economic platforms where workers find paying work, employers find willing workers, and wage rates are determined.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given time period.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage rate within an economy.