The Stanski Corporation was organized on March 1 of this year, with a charter providing for the following authorized capital:

a. 3,000 shares of preferred 10 percent stock, $50 par value

b. 20,000 shares of no-par common stock, $25 stated value During the first year of operations, the Stanski Corporation completed the fol¬

lowing transactions:

Instructions Record these transactions in general journal form. What is the total paid-in capital?
Instructions for General Ledger Software 1. Record the entries in the general journal.
2. Print the general journal. What is the total paid-in capital?
Problem Set B

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Mar. Apr. 2 Bought land from Stanski for $39,000. Stanski accepted 1,200 shares of common stock for the land (credit Paid-in Capital in Excess of Stated Value, $9,000). 4 Received subscriptions to 4,500 shares of common stock at $26 per share, collecting 40 percent of the subscription price. 6 Issued 100 shares of common stock to Stanski at $26 per share, in return for organizational services. 10 Subscribers to 4,500 shares of common stock paid an additional 30 percent of the subscription price. 13 Paid an attorney $3,940 for performing services needed for incor- porating the firm and for reimbursement of state fees. 14 Received subscriptions to 750 shares of preferred 10 percent stock at $52 per share, collecting 20 percent of the subscription price. 21 Subscribers to 4,500 shares of common stock paid the remaining 30 percent of the subscription price; Stanski Corporation then issued the stock. 9 Received subscriptions to 3,000 shares of common stock at $27 per share, collecting 50 percent of the subscription price. 17 Subscribers to 750 shares of preferred 10 percent stock paid an addi- tional 40 percent of the subscription price. 23 Sold 300 shares of preferred 10 percent stock at $51 per share for cash.