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Pringle Corporation has been authorized to issue 23,300 shares of $100 par value, 8%, noncumulative preferred stock and 1,007,600 shares of no-par common stock.

The corporation assigned a $4 stated value to the common stock. At December 31, 2014, the ledger contained the following balances pertaining to stockholders’ equity.

Preferred Stock		$165,200
Paid-in Capital in Excess of Par Value—Preferred Stock		21,230
Common Stock		2,270,000
Paid-in Capital in Excess of Stated Value—Common Stock		1,546,000
Treasury Stock— (5,470 common shares)		49,230
Retained Earnings		82,900

The preferred stock was issued for $186,430 cash. All common stock issued was for cash. In November 5,470 shares of common stock were purchased for the treasury at a per share cost of $9. No dividends were declared in 2014.

Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(1)		Issuance of preferred stock for cash.
(2)		Issuance of common stock for cash.
(3)		Purchase of common treasury stock for cash.

No.

Account Titles and Explanation

Debit

Credit

1.

$

:

$

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