A corporation was organized on jan 1 of the current year

Assignment Help Accounting Basics

Reference no: EM13602706

A corporation was organized on Jan 1, of the current year, with an authorization of 20,000 shares of $4 PREFERRED STOCK, $12 par, & 100,000 shares of $3 par COMMON STOCK & the following selected transactions were completed during the 1st year of operations.
Jan 3- Issued 15,000 shares of common stock at $23 per share for cash
Jan 31- Issued 2000 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. The value of the stock was at the time of payment was $25 per share.
Feb 24- Issued 20,000 shares of common stock in exchange for land, buildings, & equipment with fair market prices of $65,000, $120,000, & $45,000 respectively
Mar. 15- Issued 2,000 shares of preferred stock at $56

Reference no: EM13602706

Questions Cloud

Olgas total cost recovery depreciation deduction including : olga is the proprietor of a small business. in 2012 the business income before consideration of any cost recovery or

In the month of june paulas beauty salon gabe 3400 haircuts : in the month of june paulas beauty salon gabe 3400 haircuts shampoos and haircuts at an average price of 38. during

During the month fixed cost were 19316 and variable cost : in the month of march new day spa services 565 clients at an average price of 110. during the month fixed cost were

On the basis of the following data for larson co for 2010 : on the basis of the following data for larson co. for 2010 and the preceding year ended december 31 2010 prepare a

A corporation was organized on jan 1 of the current year : a corporation was organized on jan 1 of the current year with an authorization of 20000 shares of 4 preferred stock 12

On april 2 a corporation prchased for cash 5000 shares of : on april 2 a corporation prchased for cash 5000 shares of its own 10 par common stock at 26 a share. they sold 3000 of

Below is the complete list of accounts of fightin blue hens : below is the complete list of accounts of fightin blue hens incorporated and the related balance at the end of march.

Double eagle corporation produces the prestigious double : double eagle corporation produces the prestigious double eagle golf ball in one department using a process costing

If management accountants dont have to follow gaap in their : if management accountants dont have to follow gaap in their reporting and have the freedom of more customized

User Account

All Pages