Marianna Corporation is authorized to issue 100,000 shares of $5 stated par value stock and 2,000 shares

Question:

Marianna is authorized to issue 100,000 shares of $5 stated stock and 2,000 shares of $100 6 percent preferred stock. Prepare journal entries in journal form without explanations to record the following transactions:
July 15 Issued 1,000 shares of to an attorney for a bill of $7,000 for services rendered.
7000
July 25 Issued 2,000 shares of preferred stock for cash of $120 per share.
July 27 Issued 10,000 shares of in exchange for land for a plant site valued at $75,000.
Aug. 1 Issued 5,000 shares of for $35,000 in cash.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...