Answer and Explanation:
The journal entries are shown below;
a. Cash  (10000 × $69) $690,000 Â
     To Preferred stock (10000 × $51) $510,000
     To Additional paid in capital $180,000
(Being issuance of the preferred stock is recorded)
Cash (14000 × $10) $140,000 Â
     To Common stock no par value  $140,000
(being issuance of the common stock is recorded)
b. Â
Cash $140,000 Â
    To Common stock stated value (14000  ×$5) $70,000
    To Paid in capital in excess of stated value $70,000
(being issuance of the common stock is recorded)
c. Â
Cash $140,000 Â
    To Common stock at par (14000 × $1)  $14,000
    To Paid in capital in excess of par $126000
(being issuance of the common stock is recorded)
