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Discuss danielle corporation is authorized to issue

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Reference no: EM131782005

Danielle Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares of $100 par value, 8 percent preferred stock. Prepare entries in journal form without explanations to record the following transactions:

Apr.

15

 

Issued 1,000 shares of common stock to an attorney for a bill of $9,000 for services rendered.

 

25

 

Issued 1,000 shares of preferred stock for cash of $115 per share.

 

27

 

Issued 8,000 shares of common stock in exchange for land for a plant site valued at $50,000.

May

1

 

Issued 15,000 shares of common stock for $90,000 in cash.

Reference no: EM131782005

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