Journalize the transactions.

If an amount box does not require an entry, leave it blank.

Question Content Area

Feb. 5. Issued 70,000 shares of common stock at par for cash.

DateAccountDebitCredit

Feb. 5.

Cash

70,000

70,000

Common Stock

70,000

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Feb. 5. Issued 550 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

DateAccountDebitCredit

Feb. 5.

Organizational Expenses

550

Common Stock

550

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Apr. 9. Issued 15,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $27,000, $149,000, and $34,000, respectively.DateAccountDebitCreditApr. 9. Land27,000Buildings149,000Equipment34,000Common Stock15,000Paid-In Capital in Excess of Par-Common Stock195,000Feedback AreaFeedbackQuestion Content AreaJune 14. Issued 28,000 shares of preferred stock at $65 for cash.

DateAccountDebitCredit

June 14.

Cash

1,820,000

Preferred Stock

Paid-In Capital in Excess of Par-Preferred Stock

asked by guest
on Nov 18, 2024 at 6:37 pm



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