Question

Tidwell Corporation was organized on January 1, 2014. It is authorized to issue 20,100 shares of 7%, $52 par value preferred stock and 521,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the year. Jan. 10 Issued 70,100 shares of common stock for cash at $4 per share. Mar. 1 Issued 11,400 shares of preferred stock for cash at S55 per share May 1 Issued 128,400 shares of common stock for cash at $5 per share. Sept. 1 Issued 4,400 shares of common stock for cash at $9 per share. Nov. 1 Issued 3,300 shares of preferred stock for cash at $56 per share. Journalize the transactions. Journalize the transactions.